Does a temporary pre-authorization hold affect my account balance?

Whenever you visit a restaurant, online or otherwise, a 20% pre-authorization hold is placed on your debit card in order to ensure that there are enough funds to cover the transaction including tax and tip. Once the transaction settles, it will adjust to the correct amount, however you must have enough in your balance to cover the entire transaction.

Whenever you visit a gas station, a pre-authorization hold is placed on your debit card in order to ensure that there are enough funds to cover the transaction. The amount can range from $20 to $125, depending on the station itself. Once the transaction settles, it will adjust to the correct amount.

Pre-authorization holds can also be placed on your debit card for travel related (i.e. car rentals, hotel stays, etc.) and entertainment related transactions. 

 

 

Lili is a financial technology company, not a bank. Banking services are provided by Choice Financial Group, Member FDIC, or Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Choice Financial Group, Member FDIC, or Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. Please see the back of your Card for its issuing bank. The Card may be used everywhere Visa debit cards are accepted. Wire Transfer service provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may be rejected at the sole discretion of Column Bank N. A. or Lili App Inc.