Quote:
Originally Posted by geneaber
your credit or debit card
is authorized, not charged, for the amount of the order. This
authorization puts the funds on reserve, which most card-issuing banks
release after a seven-day period.
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Maybe we're splitting hairs, but this "authorization" will cause you to overdraft (that is, if you roll with a low balance). So it's just as bad as a charge.
Moreover, what good is an "authorization" that proves you currently have $274 in your bank account? 39 days from now, you will have a very different amount. Doesn't make sense for the system to say "hmm, they have $274 in the account now. Check. Seven days from now, we'll reverse this charge then charge them again in over 30 days. Hopefully the funds are there then..."
Maybe I'm too logical?
I'm just not sure what the authorization proves/accomplishes.