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How to Order (or Reorder) Checks
Order checks in several convenient ways: by phone, on the web, at a Banking Center, via Client Care, or through Online Banking (reorders only). Click to get started.
1,771 results found
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Leveraging Your Home’s Value for Home Renovations
For many homeowners, their house is their most significant asset, and seeing its value increase over time is always encouraging.
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Pros and Cons of Using a HELOC to Consolidate Your Debt
Stressed about debt? If you're a homeowner, you can use a HELOC to consolidate your debt. Read on to learn about the pros and cons, and whether this option might work for you
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Tackling Coronavirus Leaves Many Vulnerable To Another Virus: Cyberattacks
Criminals don’t mind if they kick us when we’re down. And that’s precisely what we’ve seen them do as COVID-19 has altered the way we work and live. Organizations of all sizes, security levels, and missions have been forced to allow employees to work from home to keep business operating on some level. This reality of o
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This Election Season, It’s Time To Rethink Our Approach To Financial Innovation
As the U.S. moves toward a more digital financial system, the need for innovation and updated regulations has become a key election issue. Read on for a discussion of the issues -- and solutions
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Three Narratives Driving CFO Priorities In The Covid-19 Era And Beyond
Major crises are said to accelerate pre-existing trends, but they also expose the true nature of things. Covid-19 has walloped corporate finance groups with both experiences.
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What's the Best Way to Tackle Debt? Comparing Balance Transfer Cards vs. Loans
If you have a significant amount of debt, it can make everyday life stressful. It may feel like you're never able to get on top of your finances. This is especially true if you don't know how to pay off debt.
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What is a pre-authorization hold on my debit card?
When you pay with your debit card, you may have a “pre-authorization hold” added to your account before the actual charge goes through. Businesses do this to make sure you have the funds available to cover the purchase, especially when the total amount is unknown at the time you use your card.
For example, when you swipe your card before pumping gas, a pre-authorization hold is put on your account for an amount that’s probably going to be higher than what you’ll actually spend. When you reserve a hotel room, a hold is placed on the account for the cost of the room, plus a little more in case you have additional services during your stay. When you pay for your meal at a restaurant, a hold may be placed for the cost of the meal plus extra for the possible tip. Once the actual amount is known, that number becomes the charge. And once the charge clears your account (typically during the bank’s evening processing), the pre-authorization hold is released.
Pre-authorization holds often can be considerably higher than what you will actually pay, and may stay on your account for a while (days, in some situations) so be sure you are prepared for this amount to be “on hold” in your account in the interim. Remember, you won’t have access to the excess funds until after the actual charge clears and the pre-authorization is released.
Example: Joe visits a gas station and swipes his debit card before pumping his gas. The business doesn’t know how much gas Joe will pump, but it assumes the charge will be $50 or under. They place a pre-authorization hold on Joe’s card for $50 to ensure the funds are available. Joe pumps $20 worth of gas. That means there now is an extra $30 on hold in Joe’s account, and he will not have access to that money until the $20 charge clears and the $50 pre-authorization hold is released.
If you have questions, call Client Care at 1-800-731-2265.
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Career Development
No matter where our team members are in their career development, we’re committed to partnering with them and helping them achieve their goals. Grow with us!
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Kathy A. Schoettlin
Kathy A. Schoettlin is Chief Communications, Culture and Social Responsibility Officer for Old National.
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10 Reasons To Hire and Retain Workers 50+
Older businesswoman working on laptop with young coworkers It’s time for a cultural wake-up call. Here’s the business case for hiring and retaining workers 50+. The beauty of it is that everyone wins from companies to workers, and, you bet, the economy. When it comes to hiring, smart employers know that it’s not about