Euro Pacific Bank

Pre-authorized/blocked amounts for car rentals and hotels

Due to specific card scheme rules for car rental and hotel companies, the auto-release time frame for these holds is up to 180 days. However the holds can be manually released upon request providing our card processor with the proof of final payment (invoice/receipt) or confirmation from the hotel the amount won’t be debited.

Normally all merchants have to present transaction for clearing within 7 days from the auth day. At the same time the car rental and hotel companies can send the clearing at the time when the client actually check-out/ return the car.

The holds will automatically be released when the cardholder pays at the end of the rental period or hotel stay if the payment is made using the same card. This is because the payment is made using the same reference as the hold authorization, so the two are reconciled and the hold is released. However, if the cardholder only uses the card for authorization, then settles with the car rental company or hotel using a different card or cash, then the holds remain intact. The hotel or car company should be releasing these authorizations themselves, but often they tend not to bother doing this, which is causing cardholders this issue.

As per our card processors Compliance, these holds are not released until 180 days afterwards, however cardholders can contact the processor and provide proof of cancellation or payment via a different method and they will then release these holds manually.

LAST UPDATED: MARCH 11, 2024

August 29, 2022: Euro Pacific Bank liquidation has commenced. Please read our formal instructions here as it is time-sensitive.

September 2, 2022: Update on pending transactions, brokerage, and account migration.

September 8, 2022: Qenta has emailed a welcome letter to all EPB clients. You can read a copy of it here.

September 16, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 28, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 30, 2022: Update on bank liquidation, pending transactions, and migration of assets to Qenta Inc.

October 8, 2022: Update on opt-out deadline for EPB clients who do not wish to migrate their account to Qenta Inc..

October 14, 2022: Customer Update & Townhall.

October 21, 2022: Update on Opt-out deadline - Extended.

November 01, 2022: Mutual funds & outgoing wire requests update.

December 05, 2022: Migration & liquidation update.

December 16, 2022: Comprehensive FAQ is published.

January 27, 2023: Correspondent bank update.

March 8, 2023: Migration & liquidation update.

March 31, 2023: Migration & liquidation update.

April 20, 2023: Liquidation update- Action required.

May 05, 2023: Migration & Liquidation update.

May 31, 2023: Migration & Liquidation update.

June 17, 2023: Receiver's report.

June 23, 2023: Migration & Liquidation update.

July 20, 2023: Migration & Liquidation update.

September 01, 2023: Migration & Liquidation update.

September 22, 2023: Report & Communication Portal.

September 22, 2023: Report & Communication Portal.

November 20, 2023: Progress Report (Opt-out Only).

November 21, 2023: Migration Update (Opt-in Only).

February 02, 2024: Migration & Liquidation update.

February 19, 2024: Migration & Liquidation update.

March 03, 2024: Migration & Liquidation update.

March 11, 2024: Receiver's Reports.