As a merchant may not settle the final bill immediately, tolerance is applied to ensure that there are sufficient funds available when the final bill is settled.
The amount authorised by the merchant plus the tolerance percentage or fixed amount is reserved from your available Card Fund until the merchant settles the final amount (i.e. payment is requested), at which time the exact final amount is debited from your card, or for 7 days, whichever is sooner.
If the final settlement amount exceeds the relevant available currency balance on the card, the remaining amount will be funded by converting that amount in the other currencies on your card, in the order of priority. Please see your Sainsbury’s Bank Travel Money Card™ Terms and Conditions for further information on the order of priority. The exchange rate used is the rate determined by Mastercard®, to be the wholesale rate in effect on the day the transaction is processed by Mastercard plus the foreign exchange fee.
Please note that the exchange rate used at the time the transaction is authorised (and the funds are reserved) may be different to the exchange rate used on the day the transaction is settled, however, you will only be charged for the actual and final amount of the transaction you sign for or validate by PIN.
As the merchant may not settle (i.e. ask for payment) the final bill within the 7 days and in some cases may take up to 30 days to settle (at which time the funds are debited from your Sainsbury’s Bank Travel Money Card™), we recommend that you check your transaction history regularly via ‘My Account’ and take this into account, including the tolerance, to ensure you have sufficient funds available for your spending. Typically, a merchant will submit the settlement request within 24 hours of you authorising the transaction.
Please see ‘What happens if I do not have sufficient funds available on my card to cover the value of the transaction plus the tolerance amount?’ for further information on this.
Please also see the ‘Using the card’ section of your Card Terms and Conditions.