I placed an order for Chance's seed, this morning at Chewy, in addition to a 5 item order I made 2 days ago.
I balance my register every 2 to 3 days - or when ever I buy things online.
Imagine my shock when the bank amts were more then the amts of the invoices for both orders.
One was 41 cents higher then the order on the chewy site. The other was 28 cents higher then the order on the Chewy site.
I called Chewy this morning to find out why the bank received amts for more then my order amounted to. I talked to a rep who explained that when we place an order the bank receives an amount that does not reflect the ACTUAL item(s) costs.
The amount sent to the bank is called "THE PENDING COST. After an order has shipped, the PENDING COST is replaced by the actual cost.
This PENDING COST is their cost in their stock inventory. The actual price on our Invoices reflects new lower price changes to the items we bought.
It appears both Chewy & Amazon are both using this new process. I have had a horrible time with my Amazon orders for they also have orders on backorder. Recently one of my orders cost was for $9.60. My bank received a charge for $9.60, then a second $9.60 charge, and finally a credit for $9.60. Plus my bank has had a number of PENDING costs in my account from Amazon.
It sure looks like a joint effort between Banks and Sellers to ensure the items being purchased have the money in the bank guaranteed to cover the costs.
Why hit our banks with higher amounts if the actual order amount is less? What in the world is going on????? This makes no sense at all. I was a bookkeeper for a long time...this is a disaster waiting to happen.
If they send a Pending amt, people with tight budgets could have horrible problems. Don't think a bank won't reject an order that is pennies over the acct balance. Because they will.
This Program automatically sends an amount to the bank which contains the company's INVENTORY price for each item. The total of your order is called the PENDING cost.
This amount is generated as soon as you process your order for shipping. What happens next is that Chewy, once the order is shipped the order cost is adjusted to reflect the actual prices, which would included price reductions on any items.
Hope this isn't too confusing.
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