Some retailers, such as restaurants, gas stations, and hotels, may place a temporary hold for a larger amount than you actually spent on your card while they process your transaction. This is called a pre-authorization and is a common practice in Canada to confirm your account has enough money. The additional amount a retailer holds can vary.
Here’s how it works:
Pre-Authorization: A temporary hold is placed on your account for an amount larger than your actual purchase.
Settlement: These temporary holds usually settle, or become final, in 2-3 business days. However, it can take longer depending on the retailer.
Final Amount: Once the temporary hold settles, the transaction amount is updated to reflect the correct purchase price, and any unused authorization amounts are automatically refunded to your account.
Temporary holds are shown as “Pending” in your transaction history until they are finalized.
We aim to provide clarity and support for all your transactions. If you have any questions or need assistance, our friendly customer support team is always ready to help.