Cryptocurrency Q&A
What does blocked charge mean?
What does blocked charge mean?
ZenBalance
Tue Oct 15 2024
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7 answers
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I recently encountered the term 'blocked charge' and I'm not sure what it means. Can someone explain what a blocked charge refers to in simple terms?
7 answers
Andrea
Thu Oct 17 2024
Financial institutions, such as banks and credit unions, sometimes employ a practice known as blocking. This involves placing a temporary hold on a portion of an individual's available credit limit on their credit card.
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Martino
Wed Oct 16 2024
In some cases, a blocked debit card can cause checks to bounce or recurring payments, such as utility bills or subscriptions, to be declined. This can result in additional fees and penalties for the customer.
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Elena
Wed Oct 16 2024
The purpose of this action is to prevent overspending or potential fraudulent activities. However, it has the direct consequence of reducing the amount of credit available for immediate use by the cardholder.
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GangnamGlitz
Wed Oct 16 2024
While these measures are put in place to protect customers and financial institutions alike, they can also cause unintended consequences and frustrations for those affected.
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CryptoQueenBee
Wed Oct 16 2024
For instance, if a customer's credit card is blocked for a significant portion of their credit limit, they may find themselves unable to make certain purchases or transactions due to insufficient available credit.
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