Mastercard Securecode causing balance queries

Tight_as_a_Drum

Everytime I use Mastercard Securecode during online purchases my credit card balance goes out by 60 odd pence for a few days.

Between what I know I've spent on the card and my remaining available balance there's always about 60p missing. Although this is always rectified in the end it does always leave me thinking the worst.

Is this a common problem/is there a reason for it? Or is it just me?

jpb77

Yeah I noticed this everytime I use mine but is out by £1.03 each and every time. It will be interesting to hear the answer from someone in the 'knowhow'.

Tight_as_a_Drum

Good to know it's not just me then, I assume yours also corrects itself after a few days too?

It certainly would be interesting to know the cause of it...

emzieslou

Depending on the bank, eg halifax secure, rbs worldpay etc the system that runs does an imprint amount of between 12p and £1ish on your authorisations. When the payment for the actual good is cleared that comes off putting your balance to what it should be. If that makes sense?

InsideInsurance

If you pay by Visa with the same merchant do you have the same "problem"?

A merchant is technically not required to get authorisation prior to requesting funds to be paid - though if you dont do it then you will get charged higher transaction fees.

Certainly some merchants do only ask for authorisation on a nominal amount but then go on to collect the full amount. Because the two are effectively unconnected the ringfenced authorised amount will be held from your available credit for a few days, up to a week.

However if it is the case of this then I'd expect the same to happen with both MC and V as I see no reason why a merchant would have different methods of dealing with the two different networks

emzieslou

InsideInsurance wrote: »

If you pay by Visa with the same merchant do you have the same "problem"?

A merchant is technically not required to get authorisation prior to requesting funds to be paid - though if you dont do it then you will get charged higher transaction fees.

Certainly some merchants do only ask for authorisation on a nominal amount but then go on to collect the full amount. Because the two are effectively unconnected the ringfenced authorised amount will be held from your available credit for a few days, up to a week.

However if it is the case of this then I'd expect the same to happen with both MC and V as I see no reason why a merchant would have different methods of dealing with the two different networks

You only get mastercard/visa secure if you use your card online? not in a shop?

InsideInsurance

SecureCode is online only yes