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Originally Posted by Xaccers
Ah, I gues the thinking behind that is it is up to the retailer to ensure that the signature matches etc
Must be other countries then that I'm thinking of where it guarentees payment.
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Well, like Graham said when you get the Authorisation Number, the money is taken from the card, and the amount stored in quarantine, usually until the end of the day, but could be longer. Then your account is credited with everything in the quarantined account.
The CC companies have the sole descretion to do what they like, even months after a transaction. They can whisk the money straight out of your account, and will, and there isn't a thing you can do about it. They don't even notify you in some cases. It just gets debited out. There is a chargeback appeals process though. Mostly if people just charge back on their CC for something you have given them, you need to go down other non-payment.
An authorisation number will gaurantee that the money will go into your account, i.e. that it is cleared funds, but it doesn't mean it will stay in there.