Why there's a refund in your bank account
You may see what looks like a refund from us appear in your bank account. Rest assured, it shouldn’t be anything to worry about.
This situation tends to happen:
- Around the same time as your Onto subscription payment
- To customers who use Monzo and some other banks
- As a result of our pre-authorisation process.
What is pre-authorisation?
Pre-authorisation allows us to check that your payment method is valid, and that you have sufficient funds available to cover the cost of your next subscription payment.
Ahead of your payment date, we will place a temporary hold on your payment card and reserve the funds for our upcoming transaction. Please note that no funds are actually debited or removed from your account at this pre-authorisation stage.
Once we release the temporary hold, it can sometimes look like a refund has been issued. This isn’t the case, it’s simply the way your bank represents the process on your statement.
You can read more about the process in our helpful article: Pre-authorising your payments.
It’s best to talk to your bank first
If you’re concerned about a refund or something else to do with your bank account, we encourage you to contact your bank before getting in touch with us. But if you don’t get the support you need, we’ll be happy to help!