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Intuit
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Authorization hold

Overview

You may have a hold on funds with your financial institution for a purchase made through Intuit, which appears as a double charge or billing.

An authorization is an approval for a cardholder account for a sale or transaction amount. This hold is done only by your financial institution, not by Intuit.

Assumptions

Customer has purchased an Intuit product.

Details

Authorization hold is the banking industry practice of authorizing electronic transactions that are done with a debit card or credit card. The transaction amount is held as unavailable either until the transaction is cleared by the merchant (also called settlement), or the hold "falls off." In the case of debit cards, authorization holds typically fall off the account (thus rendering the amount available again) anywhere from 1 to 5 days after the transaction date, depending on the bank's policy.

In the case of credit cards (Visa and Mastercard), the authorization is automatically reversed in 72 hours. Visa allows merchants to void an authorization hold immediately or adjust the amount of the hold in a process known as an authorization reversal. Other card associations require customers to wait until the customer's bank invalidates the hold.

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