Credit Card FAQ's:
Question: I was just in and I see a higher charge on my (online) bank/credit card statement even though my bill was $X amount.
Did China Cafe overcharge me?
Quick Answer:
NO, WE DID NOT OVERCHARGE YOU!!!
What you May Be seeing is a temporary “hold” placed upon your account by the bank/credit card company.
It should expire within five business days (depending on your bank/credit card’s policies) and then the amount authorized by you will post to your account.
Please Do Not Use Your Credit
OR Debit Card
If You Do Not Agree To This.
By Using Your Card
You Are Agreeing To These Terms
And Understand The Process.
These “Pending” or “Holds” are automatically handled through
the credit card/debit card/banking systems and WE HAVE NO CONTROL OVER THIS!
***We Cannot Undo Or Cancel This Part
Of The Credit Card Process***
When a merchant swipes a customer's bank/credit card, the credit card terminal connects to the merchant's acquirer, or credit card processor, which verifies that the customer's account is valid and that there are sufficient funds available to cover the transaction's cost.
At this step, the funds are "held" and deducted from the customer's credit limit (or bank balance, in the case of a debit card) but are not yet transferred to the merchant.
At the end of the day,
the merchant instructs the credit card machine to submit the
finalized transactions to the acquirer in a "batch transfer," which begins the settlement process, where the funds are transferred from the customer's accounts to the merchant's accounts.
This is only a request for authorization;
not the final amount charged
against your bank/credit card.
It may be easier to think of what occurs when you are at a gas station: When you swipe your card at the pump, it is authorized.
At the time, they have no idea how much gas you are getting. Are you putting a couple gallons into a scooter, or filling a recreation vehicle with $500 worth of gas?
By placing an authorization request
you are able to fill up any sized tank without further hassle.
What does an Authorization Request do?
After receiving an authorization request your bank/credit card company verifies that the card is valid and that the amount is available. If the credit card number is valid, and the amount of your order is available, they put an authorization hold on your money.
Why does my bank/credit card
put a Hold on my money?
When your bank/credit card approves the request for authorization, they are by regulation; promising that money to the merchant (in this case, China Cafe).
Because it is a promise which they are upheld to keep, they put a temporary lock/hold on that amount of money, in order to ensure that it is not spent.
When will my money become available again?
Depending on the policies of your bank/credit card company, it may take between two and five business days before the hold is lifted.
We Have No Control Over When This Is Completed!
Please contact your
credit card/bank for more information.
Question: I was just in and I see a higher charge on my (online) bank/credit card statement even though my bill was $X amount.
Did China Cafe overcharge me?
Quick Answer:
NO, WE DID NOT OVERCHARGE YOU!!!
What you May Be seeing is a temporary “hold” placed upon your account by the bank/credit card company.
It should expire within five business days (depending on your bank/credit card’s policies) and then the amount authorized by you will post to your account.
Please Do Not Use Your Credit
OR Debit Card
If You Do Not Agree To This.
By Using Your Card
You Are Agreeing To These Terms
And Understand The Process.
These “Pending” or “Holds” are automatically handled through
the credit card/debit card/banking systems and WE HAVE NO CONTROL OVER THIS!
***We Cannot Undo Or Cancel This Part
Of The Credit Card Process***
When a merchant swipes a customer's bank/credit card, the credit card terminal connects to the merchant's acquirer, or credit card processor, which verifies that the customer's account is valid and that there are sufficient funds available to cover the transaction's cost.
At this step, the funds are "held" and deducted from the customer's credit limit (or bank balance, in the case of a debit card) but are not yet transferred to the merchant.
At the end of the day,
the merchant instructs the credit card machine to submit the
finalized transactions to the acquirer in a "batch transfer," which begins the settlement process, where the funds are transferred from the customer's accounts to the merchant's accounts.
This is only a request for authorization;
not the final amount charged
against your bank/credit card.
It may be easier to think of what occurs when you are at a gas station: When you swipe your card at the pump, it is authorized.
At the time, they have no idea how much gas you are getting. Are you putting a couple gallons into a scooter, or filling a recreation vehicle with $500 worth of gas?
By placing an authorization request
you are able to fill up any sized tank without further hassle.
What does an Authorization Request do?
After receiving an authorization request your bank/credit card company verifies that the card is valid and that the amount is available. If the credit card number is valid, and the amount of your order is available, they put an authorization hold on your money.
Why does my bank/credit card
put a Hold on my money?
When your bank/credit card approves the request for authorization, they are by regulation; promising that money to the merchant (in this case, China Cafe).
Because it is a promise which they are upheld to keep, they put a temporary lock/hold on that amount of money, in order to ensure that it is not spent.
When will my money become available again?
Depending on the policies of your bank/credit card company, it may take between two and five business days before the hold is lifted.
We Have No Control Over When This Is Completed!
Please contact your
credit card/bank for more information.