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Why is my deposit in my pending balance?

Reasons why you need to verify deposits in your pending balance.

Mojisola Aimasiko avatar
Written by Mojisola Aimasiko
Updated over 5 months ago

At Grey, we prioritize the safety of our customers and their financial transactions. This means that if your transactions are pending, it is simply a safety measure to ensure that we;

  • Verify the legitimacy of funds received by our customers.

  • Protect you from potential fraudsters by confirming that the funds are from legitimate sources and no one is being defrauded.

  • Reduce the risk of any fraudulent activity that could harm you in the future. Some examples are money laundering, identity theft, and scams.

  • Serve as a deterrent to potential fraudsters and create a safe platform for you to transact with in the long term.

With the new regulatory requirements imposed by governing bodies, this process ensures we avoid legal complications by being a compliant and responsible financial institution.

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