Traditional Culture Encyclopedia - Hotel franchise - Will the hotel advance payment be refunded automatically?

Will the hotel advance payment be refunded automatically?

The hotel's credit card prepayment can be cancelled at any time, and the refund will be received within three to five days after cancellation.

Hotel credit card prepayment, also known as "pre-authorization";

Credit card pre-authorization refers to the transaction in which the card issuer or its agent confirms the amount of the license freeze before the deduction of the special merchant;

Pre-authorization will occupy the credit limit of the card. When the customer settles the pre-authorization, the pre-authorization will be cancelled.

Within 30 days of pre-authorization, if the customer fails to settle the account, the pre-authorization will be cancelled;

Generally speaking, it is a way of advance payment, which can be understood as "deposit". When consumers book hotels or air tickets with credit cards, banks will first freeze part of the funds in the credit cards as a "margin" for merchants' consumption. After the consumption is completed, the merchant can officially deduct this part of the funds after the cardholder signs and confirms.