When your customer taps, swipes or inserts their card for payment (and if they have enough funds in their account to process the transaction), they'll automatically receive an SMS (or email) from their bank, stating that the funds are reserved, withheld, or pending. Typically, the SMS will look something like this: Reserved for purchase @ Yoco *your business*.
Please note: This does NOT mean that the funds have been removed from the customer's bank account – it simply means that there are funds available in their bank account and that these funds have been 'reserved' or placed on hold to pay for the items they are purchasing.
If the sale is successful, these reserved funds will be deducted from the customer's account to pay for the items they've purchased.
If the sale is unsuccessful, the hold is cancelled and the money stays in the customer’s account.
Important: Funds are only deducted from the customer's account when your Yoco card machine displays the Payment approved screen. Always wait for this message before confirming the sale or handing over any items.
If your customer insists they were charged...
Check your Sales history – if the transaction was successfully processed, it will be recorded here.
If the payment was processed and you'd like to offer a refund, click here to find out how.
If your Sales history doesn't reflect the payment, but your customer insists they were charged, please ask them to email a copy of their bank statement (showing the amount that was deducted) to xxx, so we can help solve their query.