Resources Hub

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…

The ins and outs of Receiving Accounts: How Payoneer’s multicurrency account can help SMBs expand globally
6dba364e097cb11acdc6665c5b4a3aebd44792ad1d3ec88c09b1a34c3facfe8f?s=48&d=mm&r=g

Payoneer Team

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 spend this money anywhere. However, at the same time the charge doesn’t actually show up on their credit-card statement.

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:
  1. 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.
  2. 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 list

I 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.

Latest articles

Disclaimer
The information in this article/on this page is intended for marketing and informational purposes only and does not constitute legal, financial, tax, or professional advice in any context. Payoneer and Payoneer Workforce Management are not liable for the accuracy, completeness or reliability of the information provided herein. Any opinions expressed are those of the individual author and may not reflect the views of Payoneer or Payoneer Workforce Management. All representations and warranties regarding the information presented are disclaimed. The information in this article/on this page reflects the details available at the time of publication. For the most up-to-date information, please consult a Payoneer and/or Payoneer Workforce Management representative or account executive.
Availability of cards and other products is subject to customer’s eligibility. Not all products are available in all jurisdictions in the same manner. Nothing herein should be understood as solicitation outside the jurisdiction where Payoneer Inc. or its affiliates is licensed to engage in payment services, unless permitted by applicable laws. Depending on or your eligibility, you may be offered 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®.
Skuad Pte Limited (a Payoneer group company) and its affiliates & subsidiaries provide EoR, AoR, and contractor management services.

Thanks!

Please continue to Registration.

Open account