FAQs on Pending Balance

Here's all you need to know about pending deposits to your virtual account.

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Written by Grey Support
Updated over a week ago

Why are my funds in pending balance?

Suppose there are inconsistencies with the account name and payment details. In that case, we're required to verify the transaction's legitimacy as a regulatory requirement to protect both the sender and receiver. It helps us ensure that our services are safe for everyone.

These funds will be temporarily held in your pending balance within this period.

How can I verify that my pending transaction is legitimate?

Simply tap in Verify your deposit (add link of How to Verify deposits in your Pending balance on Your Account)

  • The purpose of the transaction,

  • Your relationship with the sender and

  • A supporting document showing the purpose of the transaction.

What kind of supporting documents can I upload?

Any document proving that the transaction was not conducted on false pretenses, such as a detailed invoice to verify salary payments or business transactions and the bank transfer receipt.

How long will it take to verify my transaction?

Once you complete the form or provide the requested information, your transaction and documents will be reviewed within 24 - 72 working hours. Your funds will be moved to your available balance if everything checks out. Just so you know, this timeline does not include weekends or public and bank holidays.

Could you let me know what happens if I receive an email asking for extra information?

Please respond to the email with the details asked for; just so you know, transactions are reviewed case-by-case basis, and specific information might be required to clear a transaction.

What happens if my transaction cannot be verified?

Unfortunately, the funds will be reversed to the sender if we're unable to verify your transaction based on the details provided in the form.

How long do deposit reversals take for unverified transactions?

Reversed deposits should arrive at the sending or originating bank within 7 - 10 business days.

What do I do if the sender does not receive the reversal after the timeline?

Please get in touch with us; we'll provide you with a refund telex to enable the sending bank to trace this refund.

Note: We do not support receiving payments for Cryptocurrency, P2P, Betting, and Forex Trading. You'll be able to learn more about our acceptable use policy here.

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