A summary of credit card pre-authorization query methods

Credit cards are used more and more, and they are also one of the must-have items for many people when going out. Since it is a necessity, of course we must understand it Okay, but what is bank card pre-authorization and how to check credit card pre-authorization? My little friend, I am really confused about the two-foot-tall monk, so I will help you summarize it.

1. When a pre-authorized transaction occurs, the cardholder can make a credit card pre-authorization inquiry at any time by logging into the card-issuing bank's online banking. Credit card pre-authorization refers to a transaction in which the card issuer or its agency confirms the authorized frozen limit before the special merchant debits the money.

2. You can also call the credit card center to inquire about pre-authorization. If the "pre-authorization" is not canceled in time, the bank will automatically cancel the frozen limit after 30 to 45 days. It is worth noting that during this period, the frozen part of the "pre-authorized" funds cannot be used.

3. A bank staff member explained that when the consumer formally settles the "pre-authorization", the "pre-authorization" will be canceled and the funds frozen by the "pre-authorization" will automatically enter The funds will generally be returned to the cardholder's account within 24 hours.

4. The pre-authorization amount can be checked on the credit card website. Generally, it will not be displayed immediately. Banks have their own accounting days. The earliest you can check is the day after the pre-authorization. If it is later, it will take 3 days. , 4 days, if it is pre-authorized abroad, it will take longer.

Credit card pre-authorization transaction completed

Credit card pre-authorization completed, also called credit card pre-authorization confirmation. After the credit card holder completes the consumption, it does not mean that the entire transaction of credit card pre-authorization is completed. In addition to the credit card pre-authorization step, there is also the completion of credit card pre-authorization. So what is the completion of credit card pre-authorization?

Credit card pre-authorization confirmation and completion

Pre-authorization confirmation and pre-authorization completion are the same thing, but each bank calls them differently. That is, when the cardholder completes the consumption and determines the consumption amount, the pre-authorized merchant will complete the card payment through the POS terminal or manually based on the cardholder's actual consumption amount within the pre-authorized amount or a certain proportion exceeding the pre-authorized amount. In order to prevent the cardholder from running out of orders, the pre-authorization process does not require the cardholder to enter the password again at the POS terminal. This practice has become an industry practice in the credit card pre-authorization business.

You need a password when doing pre-authorization. No password is needed to complete it. Some POS can do pre-authorization without even needing a card. As long as there is a pre-authorization form, the credit card and authorization number are within 30 days. All can be completed; in short, no password is required for transactions after pre-authorization, such as pre-authorization completion/confirmation, pre-authorization revocation, pre-authorization completion revocation, etc.

Credit card pre-authorization transaction process

Credit card pre-authorization transaction is a transaction type specially designed for the transaction characteristics of special merchants such as hotels, car rental companies or hospitals. Since the transaction authorization and fund settlement of such special merchants are not synchronized, and the estimated consumption amount and the actual settlement amount may be inconsistent, credit card pre-authorization transactions usually include two transaction links: pre-authorization and pre-authorization completion: The pre-authorization link, that is, the credit card holder When a person starts consumption at a special merchant, he must swipe his card at the POS terminal, enter his password (if reserved) and sign the pre-authorization document. The bank will freeze the funds in the cardholder's credit card account based on the pre-authorized amount, and its legal effect is It means that the special merchant obtains the bank's unconditional commitment to pay within the pre-authorized amount. At this time, the special merchant provides services to the cardholder based on its trust in the bank's credit; if the cardholder runs out of orders, the special merchant can contact the bank through the bank The consumption amount is deducted from the cardholder's account.

You can look at the purchase form for pre-authorization. If it is pre-authorized, it will say pre-authorization on it. Pre-authorization means that the account will be deducted after it is given. You are allowed to authorize it. The completion of pre-authorization means that the authorization has been completed. Usually when we book a room in a hotel, we have pre-authorization, deduct the deposit first, and then wait for check-out. After settlement is completed, pre-authorization is completed.

What does credit card pre-authorization mean?

1. Credit card pre-authorization refers to a transaction in which the card issuer or its agency confirms the permission to freeze the amount before the special merchant deducts the money. The pre-authorization will occupy the card's credit limit and will be canceled when the customer settles the pre-authorization.

If the customer does not make settlement within 30 days of the pre-authorization, the pre-authorization will be cancelled.

2. To put it simply, pre-authorization is a prepayment method similar to a "deposit". When consumers use credit cards to book hotels, air tickets or rent cars, the bank will first freeze part of the credit card based on the merchant's request. The amount is used as a "deposit", which is equivalent to a kind of guarantee. At the final settlement, the merchant will deduct the actual consumption amount from the pre-authorized amount. Therefore, it should be noted that the credit limit occupied by pre-authorization is generally higher than the actual consumption amount.

1. Definition

1. Simply put: Credit card pre-authorization means that the merchant freezes a portion of the cardholder's funds before consumption. After the consumption is completed, the cardholder signs and the merchant can This part of the funds is officially deducted. For example, if you go to a hotel and tell the hotel how many days you want to stay, the hotel will freeze the charges for these days on your credit card. After you confirm the consumption amount when you check out and leave the hotel, the hotel will use your credit card. The pre-authorization is completed on your card, so that the actual consumption amount is deducted from your card, and the hotel receives this part of the payment. The reason for this is to ensure that the cardholder's credit card has enough money for current consumption.

2. The benefits of pre-authorization: it can avoid the occurrence of running orders as much as possible. If the guest leaves the hotel without paying the bill after completing the pre-authorization, the hotel can apply to UnionPay to complete the pre-authorization and provide the guest's consumption receipt and pre-authorization receipt. In this way, UnionPay can transfer money from the guest's card to the hotel account.

2. Operation introduction

1. Credit card pre-authorization is a new transaction method. In layman's terms, it is a form of advance payment, which can be understood as a "deposit". When a consumer uses a credit card to book a hotel or air ticket, the bank will first freeze a portion of the funds in the credit card as a "deposit" for the merchant's consumption. After the consumption is completed, the cardholder's signature is pre-authorization confirmation, and the merchant can officially deduct the money. This part of the funds.

2. However, if the consumer fails to confirm pre-authorization in time, the merchant can apply to UnionPay for pre-authorization completion, and then the bank can transfer the funds to the merchant's account.

Revocation and completion of credit card pre-authorization transactions

With the development of the economy, more and more people use credit cards. Due to the various conveniences and benefits brought by credit cards, people can enjoy early consumption, overdraft and other rights, which bring various credit card transactions. Credit card authorization transactions are one of them. Credit card pre-authorization transactions include: pre-authorization, pre-authorization revocation, pre-authorization completion, pre-authorization completion revocation, etc.

Credit card pre-authorization transaction In order to ensure that the money in the cardholder's credit card is sufficient for current consumption, a pre-authorization transaction is first sent to freeze the customer's consumption amount, and then the pre-authorization is sent to complete the transaction when the customer actually checks out. The actual deduction is credited to your account. Pre-authorized transactions do not participate in clearing until pre-authorization is completed, because pre-authorization is only frozen and the bank has not yet entered into an accounting relationship with UnionPay or the merchant. Pre-authorized transactions are mostly used with credit cards, and some debit cards also support this type of transactions.

Pre-authorization transactions

(1) Please enter for pre-authorization details~

Pre-authorization means that hotels and hotel merchants estimate the cardholder in advance After confirming the consumption amount, obtain the pre-authorization number through POS online to ensure that there are transactions with sufficient payment amount in the cardholder's account. It can be understood that the pre-authorized amount in the cardholder's account is temporarily frozen as a deposit, but the amount is still in the cardholder's account and will be transferred to the merchant according to the actual consumption amount after the pre-authorization is completed (or at settlement).

(2) Pre-authorization revocation

Pre-authorization revocation refers to a transaction in which the original pre-authorization needs to be revoked due to a pre-authorization operation error or other reasons (such as using other methods for payment, etc.). After the pre-authorization revocation is completed, the original pre-authorization amount will be unfrozen.

(3) Pre-authorization completion will show you how to fly~

Pre-authorization completion means that after the pre-authorization transaction is approved, the cardholder will etc.) Use this transaction when checking out and paying at the POS terminal. Completion of pre-authorization is deemed as successful consumption, and the cardholder's bank card account will be deducted according to the actual consumption amount, and the original pre-authorization amount will be unfrozen at the same time.

(4) Revocation of pre-authorization completion

Revocation of pre-authorization completion means that due to operational errors and other reasons, the cashier completes the pre-authorization transaction on the day before POS settlement on the day. To perform a reversal, the transaction is similar to a consumption reversal.

I believe that credit cards are convenient and fast, but knowing more is not a bad thing. For credit card pre-authorization transactions, if you have a credit card, you should understand credit card transactions.

What should I do if my credit card cannot be pre-authorized?

Go to the bank branch counter to apply for the credit card pre-authorization service. After activating the pre-authorization service on a credit card, when you use the credit card to make purchases with a deposit, you can activate the pre-authorization of the credit card and freeze a part of the funds as a deposit. On the surface, the merchant has swiped away the pre-authorized amount, but in fact the funds It's still in the user's credit card account, it's just frozen. Later, when the user goes through the "pre-authorization completion" procedure for settlement, after deducting the user's actual consumption amount, the remaining frozen amount will be unfrozen by the bank. It should be reminded that credit card pre-authorization has a 30-day period. If the settlement is not completed within 30 days, it will be automatically canceled by the bank. In addition, credit card pre-authorization also carries certain risks. Due to the time difference, the credit card may be stolen. It is recommended not to blindly use credit card pre-authorization services.

This concludes the introduction on how to operate credit card pre-authorization and Bank of China credit card pre-authorization. Have you found the information you need?