Why is my payment processing? | Help Center | HoneyBook (2024)

FAQs

Why is my payment processing? | Help Center | HoneyBook? ›

Why is my payment processing? Not to worry! If you see a payment marked as processing in HoneyBook, this simply means that your client paid using HoneyBook's bank transfer option. Bank transfers generally take 7-8 business days to process, since the funds need to clear your client's bank account first.

When a payment status appears as “processed pending” or simply “pending,” it signifies that the payment has been authorized but is not yet settled or funded. In simpler terms, the transaction has received the initial approval but is still awaiting completion of the final processing steps.

In general, it is safe to assume that most credit card companies process electronic payments in one to two business days. However, don't fret if it is taking a bit longer, especially if you've submitted your payment on time and you have sufficient funds in your checking account.

Recipient bank

The banking provider of a recipient may also impact processing times. Some banks may take longer than others to process and clear any funds they receive. This happens due to outdated infrastructure, banking restrictions or closures. Many banks tend to process payments in 48-72hr backdated batches.

Payment processing refers to the handling and facilitating of financial transactions between a customer and a business. It involves the authorization, authentication, and settlement of payments for goods or services.

Payment processing is a series of actions that securely transfer fund between a payer and a payee during digital payment transactions. These actions involve secure payment gateways, banks, and consumer accounts to facilitate the exchange of funds for goods and services.

Does processed mean paid? Processed does not necessarily mean paid. If the bank says a transaction has been processed, that can mean that it has been authorized and authenticated but not yet settled - meaning, the seller may not see the funds in their account yet.

In most cases, yes, bank transfer times are instantaneous. However, banks will occasionally hold onto your funds for several days. There are a wide range of reasons that this could be the case, but it's most likely to happen to anomalous or especially large transactions.

How can I speed up my processing payment? ›

The time it takes for a bank transfer to be successful depends on a number of factors, and some of these factors could cause a delay. These factors include the timing of the transfer, where the transfer is being made, the currencies involved, security checks, bank holidays, and the reasons for the transaction.

A pending transaction is an approved debit or credit to your bank account or credit card that hasn't been processed yet. Essentially, the money is still in transition from one bank to another. Pending transactions may include: Bank account deposits made by check, cash or direct deposit.

It generally takes one to five business days for a credit card payment to post to your account. Your payment may even be credited to your account before it posts. In other words, your card issuer may acknowledge receipt of the payment before the transaction is fully processed.

Bank payment processing times in the US depend on the payment method. Card transactions usually process instantly but may take 1-3 business days for funds to clear. ACH or Direct Debit payments typically process within 1-3 business days.

In an effort to keep all your business information in one place, HoneyBook acts as the payment processor for any card or ACH/bank transfer payments you receive.

What does this mean? Your payment has the status: “Payment processing”. This status means that your bank is currently checking whether your payment can be completed or not.

It means that your order has been received and is now in the queue to be shipped out.

Payment processing is the collection of steps that occur when digital payment transactions are conducted between a merchant and a customer. While a merchant might typically be a business accepting payments from its customers, a merchant can also include any individual or entity accepting payments for goods or services.