debit card help? whats pos pre-authorization?

Question

i was about to stay at a hotel so i used my debit card. but then i changed my mind after they swiped the card. but they said they didnt take the money. but when i checked my balance online, the money was gone, and next to it it wrote "POS Pre-Authorization", and 30 day hold. what does this mean? i think it means that i'll get my money back in 30 days. right.

Answer 1

Any time you use a credit/debit card, the amount of the sale and sometimes more is encumbered in your account. This means that it is not available to you in your account for a debit card and on your credit limit for a credit card. This happens at the time of approval of the transaction and will remain in effect until the charge is posted or the statutory time limit has expired.

Answer 2

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A Credit card terminal is a device that can do transactions with a debit card or a credit card. Several types of credit card terminals are available to merchants. Key functionality of a Credit Card Terminal. The credit card terminal of today has multiple facets. Depending on the needs of the merchant and the type of transactions processed by the card issuing bank, key operations and functions include:[1] * Acceptance of credit, debit and charge cards (both domestic and international) * Key Entry (mail and telephone order) * Tips * Refunds and Adjustments * Settlement (including Automatic) * Pre-Authorisation * Remote Initialisation and Software update * POS Integration * Multi-merchant Capabilities * Pen or PIN * Surcharge Function * Secure Password Operation

Answer 3

I believe it means that the money was simply put aside, if you did charge it. It takes a couple days for processing of credit cards and debit cards, which act just like credit cards. If in a week the charge is still there, contact your bank. It's no big deal at all.

Answer 4

POS point of sale Pre auth.



pre auth means the system checked to see if you had enough funds in your account. It holds that money for 30 days.

yes you will get it back when it expires.

Answer 5

I put money on my debit card for two hotel rooms I was over charged for one room and that made my card declined for the other room I had to pay an additional $130 out of pocket even though the money was taken from my card now it's in pos Pre Authotization does this mean I will get my $130 back

Answer 6

keep in mind when you use your debit card at restaurants they usually hold the original amount plus 20% for the tip you should be giving

Answer 7

Pos reconcilation 20day hold

Answer 8

Its the little thing with the keypad on it that you put your card in when using it to pay for something.

Answer 9

I often end up asking the same thing on other sites

Answer 10

Pretty good arguments.

Answer 11

CALL UR BANK ASAP and inquire that transaction. DONT WAIT AND DONT ASK US FOR HELP BRO ONLY THE BANK WILL CLEAR THAT UP SO HURRY AND CALL



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