Holding(from the English word hold - to hold) is a banking term denoting the following procedure: a credit institution, at the time of authorization of a bank card, reserves the transaction amount for a certain period, during which it awaits settlements from the acquirer. This operation is often also called temporary blocking, reserving or freezing the amount on the card account.

In other words, when a payment is made by card, the amount spent by the client on a purchase/service is frozen by the issuing bank, i.e. it is held for later debiting. At this moment, the credit institution reduces the available balance on the card by the amount spent by the client, but does not write it off from the account. In fact, funds will be debited from the card only when the bank receives financial confirmation of the transaction - the so-called clearing files from the acquirer arrive.

If these files are not received, the transaction amount remains reserved for a certain amount of time, after which it is automatically unfrozen and becomes available to the cardholder. The holding period in banks varies and usually ranges from 9 to 30 days. For example, at Alfa-Bank funds are reserved for up to 9 days.

It is worth noting some important points related to holding. For example, if the account currency differs from the transaction currency, funds are debited from the card at the rate established on the day of debiting, and not on the day the funds were reserved. In such a situation, it is difficult to predict how the exchange rate will change during this time and what amount will ultimately be written off by the bank from the card, so you should not spend all your funds so as not to end up with a negative balance.

A fairly common situation is when funds are debited from the card not at the expense of the previously reserved amount. This is due to the fact that funds are written off automatically by the credit institution using the details specified in the clearing files. If they do not match the authorization details, the reserved amount continues to “hang” and a new debit from the card occurs. At the same time, the cardholder gets the impression that the transaction amount has been debited from the card twice.

It is rare, but it still happens that files confirming the transaction are received after the funds in the account are unlocked. In this case, the amount is debited from the card, and if there are not enough funds on it, then a technical overdraft is formed.

The problem of double debiting is often encountered when booking hotel rooms. For example, when booking a room, the hotel blocked a certain amount on the card, but when the guest entered the hotel, he did not write it off, but made a new debit.

In such a situation, the temporarily blocked amount will become available to the client after the end of the holding period established by the bank. If the cardholder needs the reserved funds before this deadline, he must contact his bank to request cancellation of the authorization with supporting financial documents about the transaction.

It is worth noting that if the seller canceled the authorization on the card in a timely manner, the reserved amount will be unblocked quite quickly. For example, on the day of purchasing a product, a buyer decides to return it to the store. The cashier, provided that the acquiring bank has not yet received the payment information, will cancel the transaction and the reserved amount will become available to the cardholder.

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