What does it mean to have a hold on your debit card?

Authorization hold (also card authorization, preauthorization, or preauth) is the practice within the banking industry of verifying electronic transactions initiated with a debit card or credit card and holding this balance as unavailable until either the merchant clears the transaction, also called settlement, or the ... read more

Limit your purchase. Have the clerk authorize your pump for a limited amount before you swipe your card, "like $20 on pump seven," says Urbaczewski. Since your final total is known, there's no hold. And you can often do this over the intercom at the pump. But it means either yelling into a speaker or going inside. Use your debit card with a PIN. read more

To release a hold on a debit card early – have the merchant call your debit card company. Click To Tweet Once the information is verified, the card company should notify you by phone, email, or SMS Alert † (if available) and release the hold. read more

If you use a debit card, you could find your spending hampered by companies that put a hold on the account for a certain amount. If the hold ties up your entire cash balance, you can be prevented from spending, which can be a problem if you're on vacation. read more