The Little Green Button
Members may have noticed a new addition to online banking...the Little Green Button .
When a member logs in to HCU Online Banking, they will now see a new feature, symbolized by this little green button . This new feature is a quick and easy way to see all Pending Card Authorizations that are waiting to clear your account. If you don't have anything pending, the button will not be visible. This feature gives members a to-the-second view of all pending card authorizations and allows our members a faster, easier way to do their banking!
What is a Pending Card Authorization?
When you use your CREDIT or DEBIT card, the merchant will authorize the transaction to confirm you have the funds to cover the purchase (or cash advance), which creates an authorization on your account.
While the money hasn't actually been paid to the merchant YET, your available credit or balance is reduced by the authorization amount, so that the funds (or credit) are set aside and cannot be spent again. The actual charge to your account is completed one to five days later, when the transaction is processed, and HCU transfers funds to the merchant's bank account.
If the transaction isn't processed within a certain number of days, the authorization will expire and the "on-hold" amount will become available to you again.
Authorizations may not equal actual charges! Authorization mismatches occur in situations where the total transaction amount is uncertain. For example, when renting a car, the rental agency will immediately request the credit card authorization in an amount that THEY estimate will cover the total potential bill. Many hotels do this as well, because a guest might stay longer than planned, and would be liable for the extra daily charges. Gas stations may also do this too, many times authorizing larger amounts than your actual charges.