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Any plastic card holder and active Internet banking user has at least once observed in their account statement the column "Reserved funds" and the n-th amount of money opposite it. If at the same time you think in a panic: "What are these funds? Why, by whom, and – most importantly – for what they are reserved???", so you have never heard of holding. Or they heard, but did not know, "what it is and what it is eaten with." Calm down! You have us, and now we will tell you everything.Chip and Dale Bank is coming to the rescue!
Holding is a procedure in which the bank "freezes" the amount of money you spent on the card at the time of non-cash payment, and it becomes unavailable for use. Full debiting occurs only after some time: Usually, the next day, but the maximum period is 30-35 days (depending on the bank whose POS terminal is installed in the store, barber shop, hotel, etc.-the acquiring bank). That is, during this period, the amount "hangs" on your account: you can not use it, and the company does not receive it immediately.
The holding process accompanies almost any card payment transaction. With a few exceptions: there are so-called unauthorized operations without holding (for example, on board an airplane). Funds are not debited immediately. After the cashier has passed your card through the POS terminal, your bank receives information about the transaction and blocks the purchase amount, which is marked as "Reserved funds"in the statement. If you found a more suitable item while shopping or simply decided to return the item, the money will be unlocked as soon as the cashier cancels the transaction, provided that you returned the item on the same day and the acquiring bank has not yet received information about the transaction).
If you've ever booked a hotel over the Internet, you've also experienced holding. By clicking on the cherished "Reserve" button, with one click of the mouse you give the hotel the opportunity to block a certain amount on your card. However, when entering, please remind the girl (or boy) at the reception that the full amount for accommodation should be debited from the card, taking into account the hold – otherwise, you can stay for 30-35 days without a "frozen" amount – until the reservation is canceled. If you didn't take care of this, but you need the money right away, you will have to ask the bank for help with documents from the hotel or car rental company: an invoice from the hotel with the date of entry and exit, or a car rental agreement with an impression of your card and the amount of payment, invoices and checks issued for services confirming their payment. If you keep these documents, there is a high probability that the bank will be able to "release" your money, and you will be able to use them freely again.
If you travel frequently in Europe, it makes sense to open a card with a foreign currency account, because if the currency of your account is rubles, the blocked money will be debited at the rate of the debiting date, and changes in the exchange rate may not play in your favor.
Have you booked a hotel or car and decided to cancel your reservation? If in this case the company did not unlock the amount itself, and you do not want to wait for your money for 30-35 days, you can contact the bank with a letter confirming the cancellation of the reservation. Didn't get it? You will have to request it from the company in some way-for example, by email.
Holding is a rather complex and multi-stage process. It happens like this: The customer gave the cashier a card to pay for goods or services => When the cashier passes the card through the POS terminal, the terminal transmits the card data to its own bank (acquirer) => The acquiring bank (which installed the POS terminal) sends a request to the payment system, which, in turn, sends it to the issuing bank (the bank that issued your card) = > The issuing bank verifies the card's solvency and allows the payment to be made (authorizes it) => Funds are held => The issuing bank sends information about the approval of the transaction to the payment system, which sends it to the acquiring bank, which, in turn, sends it to the point of sale => A receipt is generated at the POS terminal-the operation is approved.
We hope that now the phrase "Reserved funds" will no longer plunge you into shock. "Read" the statement – be an advanced user. Next time, we will continue the topic of "decoding" an account statement.
Any plastic card holder and active Internet banking user has at least once observed in their account statement the column "Reserved funds" and the n-th amount of money opposite it. If at the same time you think in a panic: "What are these funds? Why, by whom, and – most importantly – for what they are reserved???", so you have never heard of holding. Or they heard, but did not know, "what it is and what it is eaten with." Calm down! You have us, and now we will tell you everything.
Holding is a procedure in which the bank "freezes" the amount of money you spent on the card at the time of non-cash payment, and it becomes unavailable for use. Full debiting occurs only after some time: Usually, the next day, but the maximum period is 30-35 days (depending on the bank whose POS terminal is installed in the store, barber shop, hotel, etc.-the acquiring bank). That is, during this period, the amount "hangs" on your account: you can not use it, and the company does not receive it immediately.
The holding process accompanies almost any card payment transaction. With a few exceptions: there are so-called unauthorized operations without holding (for example, on board an airplane). Funds are not debited immediately. After the cashier has passed your card through the POS terminal, your bank receives information about the transaction and blocks the purchase amount, which is marked as "Reserved funds"in the statement. If you found a more suitable item while shopping or simply decided to return the item, the money will be unlocked as soon as the cashier cancels the transaction, provided that you returned the item on the same day and the acquiring bank has not yet received information about the transaction).
If you've ever booked a hotel over the Internet, you've also experienced holding. By clicking on the cherished "Reserve" button, with one click of the mouse you give the hotel the opportunity to block a certain amount on your card. However, when entering, please remind the girl (or boy) at the reception that the full amount for accommodation should be debited from the card, taking into account the hold – otherwise, you can stay for 30-35 days without a "frozen" amount – until the reservation is canceled. If you didn't take care of this, but you need the money right away, you will have to ask the bank for help with documents from the hotel or car rental company: an invoice from the hotel with the date of entry and exit, or a car rental agreement with an impression of your card and the amount of payment, invoices and checks issued for services confirming their payment. If you keep these documents, there is a high probability that the bank will be able to "release" your money, and you will be able to use them freely again.
If you travel frequently in Europe, it makes sense to open a card with a foreign currency account, because if the currency of your account is rubles, the blocked money will be debited at the rate of the debiting date, and changes in the exchange rate may not play in your favor.
Have you booked a hotel or car and decided to cancel your reservation? If in this case the company did not unlock the amount itself, and you do not want to wait for your money for 30-35 days, you can contact the bank with a letter confirming the cancellation of the reservation. Didn't get it? You will have to request it from the company in some way-for example, by email.
Holding is a rather complex and multi-stage process. It happens like this: The customer gave the cashier a card to pay for goods or services => When the cashier passes the card through the POS terminal, the terminal transmits the card data to its own bank (acquirer) => The acquiring bank (which installed the POS terminal) sends a request to the payment system, which, in turn, sends it to the issuing bank (the bank that issued your card) = > The issuing bank verifies the card's solvency and allows the payment to be made (authorizes it) => Funds are held => The issuing bank sends information about the approval of the transaction to the payment system, which sends it to the acquiring bank, which, in turn, sends it to the point of sale => A receipt is generated at the POS terminal-the operation is approved.
We hope that now the phrase "Reserved funds" will no longer plunge you into shock. "Read" the statement – be an advanced user. Next time, we will continue the topic of "decoding" an account statement.
