Question:

What is an outstanding authorization of Commonwealth Bank?

by Guest3428 | 12 years, 9 month(s) ago

I read about outstanding authorization of Commonwealth Bank. Can someone tell me that what is an outstanding authorization of Commonwealth Bank?

Tags: authorization, bank, Commonwealth, outstanding

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Guest3098

An outstanding authorization is when the estimated value of a purchase (e.g. car rental) is being held for a period of several days to allow the merchant to process the transaction. It is also used as a security measure for transactions such as hotel accommodation, without being charged to the account. An outstanding authorization reduces the cardholder's available credit, but does not affect the balance owing on the card.
Report (0) (0) | 12 years, 9 month(s) ago