Contrary to traditional banks, Qonto shows you transactions in real-time. This implies that Qonto shows you all transactions, including those that are hidden in the background for other banks.
When you see a transaction labelled “processing” but don’t understand its amount, it can be because this transaction corresponds to one of the following cases:
A balance check
A merchant (automated gas station, hotel, car rental, etc.) can perform an authorization request to your bank, to ensure that your balance includes sufficient funds to cover the amount you’re likely to pay at the delivery of their service. These requests can remain labelled as “processing” in your account history for up to 11 days, before getting cleared.
A card verification
A merchant (online retailer, ride-sharing app, etc.) can perform an authorization request to your bank (generally of an amount inferior to €1), to ensure that your card is valid. These requests can remain labelled as “processing” in your account history for up to 11 days, before getting cleared.
The remaining part of a prior authorization request
Sometimes, the amount of an authorization request can be higher than the amount you end up paying. For example, a hotel can perform an authorization request for an amount corresponding to a 3-nights stay, while you end up staying and paying for just 1 night. In some of these cases, a remaining authorization request (corresponding to the difference between the amount authorized in the first place, and the amount you paid) can remain on your account for up to 11 days, before getting cleared.