Why do I see reserved funds in my account statement?

In some cases, you can see the reserved amount in your account statement, which is a normal part of the payment process. It means that your payment has been authorized, i.e., you confirmed the debit of the money from your account. 

However, at the same time, a merchant (a business you have paid to) has not claimed or reversed it yet.

Thus, your funds are reserved and subtracted from your available balance for the period when the technical processes related to the transaction occur.

It usually takes a couple of days to process the transaction financially. Note that in some cases, it can take the merchant a longer period to claim the payment (around 14 days). It can be up to 33 days for car rentals, hotels, cruise ships, or other businesses that deal with rental services. 

Please note that Genome cannot “unreserve” funds during this period. The transaction can only be reversed by the merchant. If you want to cancel this payment, you will need to contact the merchant directly. 

Until the payment process is completed, the client remains responsible for the payment made, even if the card used for the payment is no longer active.