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The Gunners agreed a fee with their London rivals earlier this month that will see them shatter their transfer record.
With personal terms having been agreed weeks ago, fans of both clubs have been left puzzled by a lack of official confirmation.
The Hammers were reported to have been annoyed with Arsenal’s delaying tactics earlier this week, while eyebrows were raised by pictures that emerged on Wednesday of Rice training alongside the likes of Bruno Fernandes, Joao Cancelo and Rafael Leao in Portugal.
While West Ham have done well to engineer a deal that will eventually see them receive £105million, the hold-up is preventing them from beginning their own summer spending in earnest.
As well as sourcing a replacement for their captain, Moyes is keen to add more firepower to an attack that remains heavily reliant on Michail Antonio.
Speaking ahead of his side’s friendly against Perth Glory, Moyes said: ‘Until it’s done we can’t plan anything.
‘Everybody knows the situation, we’re expecting something to happen. I think you (Sky Sports) said it was done two weeks ago and it’s still not done.’
Mikel Arteta, meanwhile, refused to give any update on when Rice’s move would be rubber-stamped following last night’s 1-1 draw against Nurnberg.
‘I don’t know,’ he said when asked deals for Rice and Jurrien Timber would be confirmed by the club.
‘We are working on them and when we have something to announce we will.’
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