Essentially to give you the simple side of credit / debit cards.
First when a merchant swipes the card there asking the bank whether theres money to the transaction. Also called an authorization or an approval number.
This will then automatically show up in most online banking as a pending transaction now these days.
Lots of hotels and car rental places use these types of transactions frequently to see if you have the money available to cover incidentals. Such as phone calls, restaurant meals, damages to the car etc etc.
Then eventually when the merchant is ready to take the money, they do as a settlement to your bank. Then the bank will release the money to the merchant and then it will no longer show as pending or sometimes will show as settled.
Sometimes in the previous scenarios explained. That extra money taken would then be released because they said they wouldn't use it.
But here's where the above gets sticky.
Sometimes if you pay for everything with cash. Sometimes they'll never seek to settle the transaction.
So this is where sometimes the transaction will hang. Where they won't settle it or actually ask for the money.
If you know the merchant isn't going to ask for the money then sometimes you can ask the merchant to fax the bank to release the money early. In the case of online gaming more than likely they won't do that because then they'd more than likely have to reveal the true nature of the transaction.
So really then what you have to wait for is a authorization expiration. Which for most banks I've seen is 10 business days. I have seen some last for up to 30 days. I would be first calling your bank to ask how long they put these authorization holds on for. They might give you a varied explanation but that way you know what to expect.
This is so confusing to me absolutely ridiculous what we have to go through to spend our OWN money the way we choose! I will wait a few days if money is not in account I will first call CW and than the bank. Thanks for all the info cheetahwind!
I just made one 5 minutes ago with no problems, and had a bank wire hit this morning once again with no problems. I refuse to use 3rd parties to deposit. If that day ever comes, I will end online gaming and stick to B & M.
