On March 12th we updated our debit card transaction processing to real-time. .
What is Real-Time Transaction Processing?
With real-time processing, your account will automatically be updated whenever a transaction is processed with your VisionBank debit card. Whether you use your debit card every two minutes or two hours, you’ll appreciate having the most up-to-date account information available — immediately. When you make a deposit at one of our locations, you will see your deposit when you inquire at the ATM.
How it Works.
When you swipe your card at a business, an authorization will take place immediately. This initial authorization will appear right away on your account and be visible to you through internet banking. Once the business ends their business day and sends their debit card transactions for processing, the actual transaction will post to your account. This will help you understand why a transaction could be pending for 1 day or 3 days, it’s all dependent on the business and when they send their transactions for processing.
Authorization Vs. Posted Transaction.
The initial authorization and the actual posted transaction may differ in amounts, dependent on the type of business you use your card at. The following are a few examples of when the authorization and actual transaction may be different:
Real-time processing will also help further protect your account from potential fraud. With automatic updates to your account balance, you’ll be able to view all your account transactions right away. If you notice any suspicious activity on your account, report it immediately to VisionBank.
Please feel free to call us at 800-574-8123 if you have any questions regarding real-time processing. We appreciate your business and look forward to providing continued service enhancements as we help you with all your financial needs.