What is a “hold” and how does it affect my transactions?
When you purchase goods with your RushCard, merchants and retailers run your card through an authorization process to verify that you have sufficient funds on your card to pay for the transaction. When the transaction is approved, a “hold” is placed on the transaction amount. The hold instantly reduces the spendable amount on your card (your “available balance”) by the amount of the transaction. The transaction amount is not actually deducted from your balance until the merchant submits a confirmation of the sale at the end of the day. This confirmation allows the funds to be deducted from your available balance and is known as the “settlement.” When the merchant submits the settlement, you will first see a cancellation of the hold, and then see the posted settlement. Due to processing rules, a hold may remain on your available balance for several days while we wait for the transaction to settle. If the merchant does not settle within a defined time period, the hold will automatically
