diff --git a/src/libs/OptionsListUtils.js b/src/libs/OptionsListUtils.js
index e0f334ca36af..4f1ebb405e41 100644
--- a/src/libs/OptionsListUtils.js
+++ b/src/libs/OptionsListUtils.js
@@ -393,7 +393,14 @@ function getLastMessageTextForReport(report) {
         lastMessageTextFromReport = ReportUtils.getReportPreviewMessage(report, lastReportAction, true);
     } else if (ReportActionUtils.isReportPreviewAction(lastReportAction)) {
         const iouReport = ReportUtils.getReport(ReportActionUtils.getIOUReportIDFromReportActionPreview(lastReportAction));
-        lastMessageTextFromReport = ReportUtils.getReportPreviewMessage(iouReport, lastReportAction);
+        const lastIOUMoneyReport = _.find(
+            allSortedReportActions[iouReport.reportID],
+            (reportAction, key) =>
+                ReportActionUtils.shouldReportActionBeVisible(reportAction, key) &&
+                reportAction.pendingAction !== CONST.RED_BRICK_ROAD_PENDING_ACTION.DELETE &&
+                ReportActionUtils.isMoneyRequestAction(reportAction),
+        );
+        lastMessageTextFromReport = ReportUtils.getReportPreviewMessage(iouReport, lastIOUMoneyReport, true);
     } else if (ReportActionUtils.isModifiedExpenseAction(lastReportAction)) {
         const properSchemaForModifiedExpenseMessage = ReportUtils.getModifiedExpenseMessage(lastReportAction);
         lastMessageTextFromReport = ReportUtils.formatReportLastMessageText(properSchemaForModifiedExpenseMessage, true);
diff --git a/src/libs/actions/IOU.js b/src/libs/actions/IOU.js
index 198ceb2b8172..49cf6df4f025 100644
--- a/src/libs/actions/IOU.js
+++ b/src/libs/actions/IOU.js
@@ -154,6 +154,7 @@ function buildOnyxDataForMoneyRequest(
             value: {
                 ...chatReport,
                 lastReadTime: DateUtils.getDBTime(),
+                lastMessageTranslationKey: '',
                 hasOutstandingIOU: iouReport.total !== 0,
                 iouReportID: iouReport.reportID,
                 ...(isNewChatReport ? {pendingFields: {createChat: CONST.RED_BRICK_ROAD_PENDING_ACTION.ADD}} : {}),