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My transaction failed, but I was still charged?

My card didn't go through, but I still see a charge.

Sometimes, when a transaction does not complete successfully you may still see what is called an authorization hold. The credit card authorization process is multi step. First, the payments system places an authorization hold on your card to ensure funds availability. If that is successful, it runs through several other types of checks to ensure that your transaction falls within certain guidelines. If this second process fails, your order will not complete. However, you may still see an authorization hold on your account for a short period.

What happens to the money after the transaction fails?

The credit card system automatically conducts what is called batch settlement. It checks to see if all transactions completed successfully. If your transaction was successful, the authorization hold is converted to a transaction and your account is debited. If the transaction failed in any way, the authorization hold will be released and the funds will once again become available. To you, the transaction will simply disappear with no action.

How long does it take?

If an authorization hold was made to your account but the transaction subsequently failed, it will take a minimum of 1 - 2 business days to disappear depending on your bank.

 

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