The double charge you are seeing on your bank account is an authorization. This is a common bank practice for handling credit card transactions to ensure sufficient funds are available.
An authorization hold (also known as card authorization, preauthorization, or preauth) is the practice within the banking industry of authorizing and validating funds for electronic transactions done with a debit card or credit card.
Bank institutions ‘hold’ this balance as unavailable from the individual account until either the merchant completes the transaction (also called 'settlement'), or the hold "falls off." A ‘fall off’ is when banks render the balance available to the individual’s account again. Debit card authorization holds can fall off the account anywhere from 1–5 days after the transaction date depending on the bank's policy. Credit card holds may last as long as 30 days, depending on the issuing bank.
If after this timeframe you can still see the authorization amount as blocked, please reach out to your bank or the payment provider. If they confirmed there has been an incorrect double charge, please ask them to provide you with an official bank letter and reach out to us so we can investigate and provide you a solution within the shortest time.
Comments
0 comments
Article is closed for comments.