Q1 Resort & Spa - Bond & Pre Auth Information
Good Morning/Afternoon,
Thank you for your enquiry with reference to the pre-authorisation to your credit card for the security bond.
The pre-authorisation is a temporary freeze of funds on your account and this will show as ‘pending’ on your bank account/statement.
As the transaction is not a sale, you will NOT see a refund or credit on your bank statement once this is released . The pending transaction will just simply disappear.
Depending on your bank, it can take up to 5-10 business days for those funds to become accessible to you. If it has been more than 5–10 business days and the transaction is still showing as pending, we recommend contacting your bank, as often they can manually remove the pending transaction
Please feel free to contact us if we can be of any further assistance.
What Does Pre Authorisation Mean?
In the world of electronic payment processing, a credit card pre-authorisation refers to the process of placing what is effectively a holding charge on a guest’s credit card. The issuing bank checks to ensure that the customer’s payment can go through and there are sufficient funds available to cover the requested amount, without actually debiting the cardholder’s account right there and then.
What Are Pre-Auths For?
There are a number of common use case scenarios for pre-authorising payments via credit card, particularly within the travel sector. For instance, accommodation companies normally require that a customer commits to paying for any damages they might cause during the period of their rental by putting down a security deposit. This security deposit is usually claimed via a pre-auth charge, holding the authorisation amount for the company to deduct any funds to cover damages (or fines) upon return of the apartment keys.
How Long Do Pre-Authorisations Last?
Typically, a pre-auth will be released 48 hours after departure if no further action is taken by the merchant.
Thank you for your enquiry with reference to the pre-authorisation to your credit card for the security bond.
The pre-authorisation is a temporary freeze of funds on your account and this will show as ‘pending’ on your bank account/statement.
As the transaction is not a sale, you will NOT see a refund or credit on your bank statement once this is released . The pending transaction will just simply disappear.
Depending on your bank, it can take up to 5-10 business days for those funds to become accessible to you. If it has been more than 5–10 business days and the transaction is still showing as pending, we recommend contacting your bank, as often they can manually remove the pending transaction
Please feel free to contact us if we can be of any further assistance.
What Does Pre Authorisation Mean?
In the world of electronic payment processing, a credit card pre-authorisation refers to the process of placing what is effectively a holding charge on a guest’s credit card. The issuing bank checks to ensure that the customer’s payment can go through and there are sufficient funds available to cover the requested amount, without actually debiting the cardholder’s account right there and then.
What Are Pre-Auths For?
There are a number of common use case scenarios for pre-authorising payments via credit card, particularly within the travel sector. For instance, accommodation companies normally require that a customer commits to paying for any damages they might cause during the period of their rental by putting down a security deposit. This security deposit is usually claimed via a pre-auth charge, holding the authorisation amount for the company to deduct any funds to cover damages (or fines) upon return of the apartment keys.
How Long Do Pre-Authorisations Last?
Typically, a pre-auth will be released 48 hours after departure if no further action is taken by the merchant.
Kind regards,
Central Reservations Consultant
A: 9 Hamilton Avenue, Surfers Paradise Queensland 4217, Australia
P : (07) 5630 4500 F : (07) 5630 4555 E: res@q1.com.au W: www.q1.com.au
A: 9 Hamilton Avenue, Surfers Paradise Queensland 4217, Australia
P : (07) 5630 4500 F : (07) 5630 4555 E: res@q1.com.au W: www.q1.com.au
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