“Authorizations for the amount” at Tinkoff Bank

What is payment authorization

Authorization is the full debiting of funds from the client's account. The main misunderstandings arise from not knowing the difference between authorization and an immediate transaction. A transaction is a request to debit money from the account. The client can cancel a transaction at any desired moment without losses. Authorization, however, is confirmation that the recipient has accepted the money, issued by the recipient's bank. That is, it is no longer possible to cancel a completed authorization.

The general flowchart of the transfer and payment process is as follows:

1. The client makes a card transfer or payment.
2. The bank blocks the amount for which the client made the purchase, reducing the available balance on the account. However, the funds themselves are still there, they are simply unavailable for use.
3. After some time (up to 30 days, but the bank takes all possible measures to reduce the time), the recipient's bank confirms the receipt of funds, and they are finally debited from the sender's account.
4. If the payment was made in a different currency, the exchange rate volatility factor applies. In this case, after authorization, the bank balances the exchange rate difference by debiting additional money if the base currency rate falls, or returning it if it rises.
5. Also, in the app or personal account, you can see the processing of cashback and other operations tied to the moment of authorization.

How T-Bank overdraft works and how to avoid it

An overdraft is a negative balance on a debit card. Since this is essentially lending, the bank has the right to charge commissions and interest for it. When a client connects the service themselves, there is no problem with this. But technical overdrafts also exist.

A technical overdraft at T-Bank occurs when a client makes purchases in a foreign currency, and exchange rate growth requires debiting funds from the account. If there are enough funds in the account, the amount of a few kopecks is simply debited. But if there is no money on the card, the account goes into the negative upon debiting, and thus an overdraft appears.

Avoiding such a situation is quite simple:

• If you need to make a purchase in a foreign currency, keep a certain amount in your account in case of exchange rate difference write-offs.
• Try to convert one currency into another if the price of your purchase differs from the account currency. This will help you keep track of the money spent.
• Whenever possible, pay in the currency in which the goods or services are sold. If you do not have an account for a specific type of currency, it is advisable to pay with a dollar account, as dollars are used by the international payment system. This helps avoid double conversion and, consequently, additional write-offs.

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What "Authorizations for the amount" means at T-Bank

«Authorizations for the amount» at T-Bank is the ability to view the number and amount of payments not yet confirmed by the bank, i.e., having the status "authorization pending confirmation". You do not need to activate this; the functionality of the app or personal account simply allows you to view the number of unconfirmed transactions. This is especially important for people who have a loan, since an unnecessary card write-off there can cause high interest on the debt.

How to view "Authorizations for the amount"

The functionality is available from any T-Bank service, as it is an integral part of the system.

On the website

Log in to your personal account, click on the desired account, and then select "Authorizations for the amount". The screen will display the amount of unconfirmed transactions. Please note that only the total amount is displayed; if you have many small transactions, the write-off (if any) will occur for each one individually.

In the mobile app

It is done in the exact same way through the app. You need to log in to your account, then select the required product in the list, click on the settings gear and view the amount of transactions. The app also does not display a list of specific unauthorized purchases, but you can view the payment history in both the account and the mobile bank. Unconfirmed payments have a small clock icon next to them.

Via support operator

You can also find out about your unauthorized payments through an operator, although this will take longer than studying the account or app yourself. However, the operator can also list the number of transactions and their individual sizes. If the client does not have access to the bank's services, it makes sense to use support for this.

In which cases does "Authorization pending confirmation" appear

This is a status assigned to all payments that have not yet actually gone through. As a rule, processing an operation on the account takes up to several days, but the rules set a maximum period of up to 30 days. If confirmation is not received within this period, the bank calls this an "unsuccessful authorization" and may extend its processing time. If the authorization fails, the entire amount in the client's account is fully unblocked, and they can use their money at their discretion.

Currently, T-Bank is working on speeding up account transactions as much as possible, reducing the waiting time to 1 day. The bank may still occasionally delay the process, but right now the vast majority of purchases and transactions are processed either on the same day or the next. This makes it much more convenient for clients to pay with a card and not worry about technical overdraft a month after making a purchase.