I went to a car rental agency (Last Minute Rent Car) in Croatia, and I used accidentally my Revolut card for the deposit, so it was charged from my account (6300 kuna). Now that the rent is over since 15 days and with any problem, I would like to take back this deposit, and the agency said that the money was not credited into its account but blocked (so they can not give us back this money).
Can you help us to retrieve it please? @AndreasK
The terminology of ‘blocked’ for the purposes of card payments is that it has been withdrawn from your account, and set aside for the merchant to claim.
Once the issuer has authorised the transaction, the purchase amount is blocked on the account and the transaction becomes ‘pending’, but the funds are not directly transferred to the merchant.
To receive the funds, the acquirer (Starbucks’ bank) must first send the issuer (Revolut) a presentment to be processed by the card network before arriving at Revolut. This process can take place up to 7 days after the POS authorisation is accepted, although this can vary depending on many factors.
After receiving the presentment, Revolut is obliged to settle to MasterCard (consequently to the acquirer and then to the merchant) the funds for the authorised amount.
Finally, Revolut (the issuer) deducts the ‘blocked amount’, which travels through the card network over to Starbucks’ bank (the acquirer). At this point, the transaction has settled (it is no longer pending) and will appear on your statement.
Therefore the car rental agency is correct.
Under normal circusmtances (I think) it should normally revert to the account holder if it is not claimed. It is probably possible to accelerate this process by speaking with someone at Revolut, however.
Thank you for the explanations, it’s a little bit clearer now!
But do you know how long does it takes to be reverted normally? (Because it’s sure that the agency is not going to claim it)
Not too sure.
Best contact someone from about it to follow-up.