Credit card transactions now appear immediately in ANZ Internet Banking and ANZ goMoney. You may see some 'temporary' transactions that disappear after a day or two – here's an overview of those and what they mean for you.
These transactions fall into three main types:
- Authorisations (transactions that haven't been fully processed yet)
- Holds (also called pre-authorisations)
A merchant can get an 'authorisation' to check that you have enough available credit limit to buy goods or services.
These are transactions that have been authorised by you and/or a retailer, but not billed to your credit card account yet. This might be for something you bought recently which hasn't been processed yet (for example if you bought it late at night or on the weekend) or where the merchant wants to check that you have enough available credit to buy goods or services.
This is when a certain amount is put 'on hold' on your card - for example hotels often make a pre-authorisation hold when you book a room, to check that you have enough credit on your card to pay your room bill. It's also common when you buy petrol at self-service pumps. The 'hold' transaction won’t be processed and will disappear after a day or two if you don't spend the amount that's been put on hold on your card.
This is where companies place a very small amount on 'hold' on your account – typically $1 – simply to verify your credit card details. This won't be processed and will disappear off your account in five days.
What this means for you
When you have authorisations, holds or verifications on your account, they will affect your available credit. For example, if you make a hotel room booking and the hotel puts a hold on your account for $200, your available balance will be reduced by $200 until it disappears from your account.