Why Do I See Pre-Authorized Transactions in My Payoneer Account?
A credit card pre-authorization is much like any other charge to a credit card, except instead of actually debiting funds from the cardholder, the merchant just puts a temporary “hold” on the funds in order to confirm that you have sufficient funds to cover the purchase. Once a credit card has been pre-authorized the cardholder cannot go and…
Why do I see a pre-authorized transaction on my card?
While there are several scenarios that could result in an outstanding authorization the two most common are the following:- Merchant offers a service prior to payment – In the case of gas stations, for example, choosing to pay “at the pump” will often result in a set amount placed on hold, separate from your actual gas purchase. This is done to verify you have enough money in your account to fill up a tank of gas.
- Incomplete transactions – Sometimes when a merchant tries to charge your card, the transaction does not go through – technical reasons for example. Refunding the buyer is done automatically by the merchants system, however you may see the initial pre-authorization in your account for a few days until it expires (usually no more than 5-7 days) and your funds will be released back to your card.
How do I know there is a pre-authorized transaction on my account?
You can easily view the outstanding authorizations on your Payoneer Prepaid Mastercard® by performing the following steps: 1. Log in to Payoneer 2. Select Activity from the menu and then Transaction History 3. Find the link titled Click here to view pending authorizations located above your transactions listI have a pre-authorized transaction on my card, what next?
With pre-authorized transactions, patience is the name of the game, since the hold is being placed by the merchant. In some cases, Payoneer Customer Care can be of assistance, so feel free to get in touch. It is important to realize that there is an entire process occurring behind the scenes until the transaction is settled which takes time. You will need to wait at least 7 business days from the date of the transaction for the funds to be released back into your available balance. Should the funds remain on hold after that time period, you are welcome to contact our customer care team for further assistance on that matter.Related resources
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Disclaimer
Nothing herein should be construed as if Payoneer Inc. or its affiliates are soliciting or inviting any person outside the jurisdiction where it operates/is licensed to engage in payment services provided by Payoneer Inc. or its affiliates, unless permitted by applicable laws. Any products/services availability are subject to customer’s eligibility. Not all products/services are available in all jurisdictions in the same manner. Depending on your eligibility, you may be offered with the Corporate Purchasing Mastercard, issued by First Century Bank, N.A., under a license by Mastercard® and provided to you by Payoneer Inc., or the Payoneer Business Premium Debit Mastercard®, issued and provided from Ireland by Payoneer Europe Limited under a license by Mastercard. The Payoneer Business Premium Debit Mastercard® cannot be used at merchants or ATMs in Hong Kong or for HKD payments. If you are located in the EEA, all Payoneer Services will be provided to you by Payoneer Europe Limited, trading as Payoneer and regulated by the Central Bank of Ireland.
The information in this document is intended to be of a general nature and does not constitute legal advice. While we have endeavored to ensure that the information is up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability or suitability of the information. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever incurred in connection with the information provided.
