Transactions on Float go through two stages once approved: Authorization and then a Capture. Authorization is an approved charge on your card that the merchant can then Capture (or complete) the transaction to withdraw the funds.
Pending authorizations are noted with an amber clock on the status column:
Authorizations can remain in the pending state for up to 7 days. However, transactions with Rental companies and Airlines may stay pending for longer.
Merchants in either industry have an extended transaction clearing time with Float:
- Airlines ✈️ : up to 16 days.
Smaller airlines usually require a longer timeline to capture transactions, and this extension is to allow for that. - Rentals 🚙 : up to 31 days.
Rental companies hold on to authorizations for longer to ensure that their vehicles are returned in the condition obtained. The extended hold is required to account for any extra charges from damages etc.
If you have any questions please reach out to your account representative or support@floatcard.com, and we'd be happy to help!