Thursday, December 8, 2011

I bought something online but on my my bank has the transaction on hold?

what des that mean, i put money in there and i bought a 40.95 item and i check my account online and it says the expiration date of the hold is tomorrow, does it mean that it wont send the money to the seller, im really confused


this is the first time buying something online. i used my credit card|||If a transaction is pending or on hold it means that the transaction hasn't been completed by the company. When you make an online purchase you pay with your credit card and the company will run it to make sure you have enough money to complete the transaction. This puts a hold on your account. Then the company will need to submit some paperwork or electronicly notify the bank to complete the transaction, and then the transaction is considered completed. Sometimes a company will put a hold on your account just to ensure they will get paid. An example of this is a Car Rental company. A car rental company will ask you to present a credit card at the time you go and rent the card. The hold remains until you return the car, at that point you can choose to pay with a different method, and the hold is removed and the funds become available. Its a common industry practice, and you shouldn't worry about it.|||it's probably on hold because you haven't actually been charged yet. the date means that's when you'll be charged.





usually wherever you bought the thing from doesn't charge you until it's actually shipped|||try http://www.luxuryfied.com . next time|||Contact your bank about it because they might want your authorization first because some banks put the payments in temporary hold if they find a payment a little suspicious.

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