Traditional Culture Encyclopedia - Hotel reservation - How long does it take to return the credit card pre-authorization

How long does it take to return the credit card pre-authorization

Legal analysis: voluntary cancellation: generally, when staying in a hotel or renting a car, the pre-authorization transaction will be swiped by a credit card. When the cardholder leaves the store, the pre-authorization is settled through the POS machine, so the card issuer will immediately unfreeze the pre-authorization amount, and the time to restore the amount is 1-2 days after the merchant opens, which means that the pre-authorization will be returned in about 1-2 days.

Legal basis: Measures for the Administration of Credit Card Business

Article 3 The term "credit card" as mentioned in these Measures refers to the credit payment instruments issued by commercial banks in People's Republic of China (PRC) (including foreign-funded banks and Sino-foreign joint venture banks, hereinafter referred to as commercial banks) to individuals and units.

Credit card has the functions of transfer settlement, cash deposit and withdrawal, consumer credit and so on.

Article 4 Credit cards are divided into unit cards and personal cards according to users. According to the credit rating, it is divided into gold card and ordinary card; Divided into RMB cards and foreign currency cards by currency; According to the carrier material, it is divided into magnetic stripe card and smart card (hereinafter referred to as ic card).