People often ask me how to get a refund when a flight goes belly-up. Belly-up covers drama from Sandy or that Nor'easter-when airlines are the ones canceling flights-to you falling ill and scrubbing your own trip.
It may be that the company placed a block â or a hold â on your card for the estimated total of your bill. Merchants use blocks to make sure you have sufficient funds to pay your bill. If youâre near your credit limit or you have a low balance in your bank account when a block is placed, your card could be declined for additional purchases. To avoid surprises at the cash register, ask your card issuer and the merchant if they use blocking.
A balance hold on your bank account can prevent you from getting to your money.The money is there, but you can't use it until the bank releases the hold. To get a balance hold released, you must know why the bank initiated it.It might be a routine matter of waiting for a check to clear, or the bank might be exercising its right of setoff -- its right to apply your account balance toward a loan debt, for example.o get a balance hold released, you must know why the bank initiated it. It might be a routine matter of waiting for a check to clear, or the bank might be exercising its right of setoff -- its right to apply your account balance toward a loan debt, for example.