Why is there a $1.00 charge on my credit card?
As a seller, you may see a charge of $1.00 or less on the credit or debit card added to your Selz account. We use Stripe to process all plan subscriptions and they do this to verify that the card is issued and that the bank will allow it to be authorized.
According to Stripe:
When storing customer details or using Checkout to collect payment data, we send over a request to the issuing bank for either a $0 or a $1 authorization to verify that the card is issued and the bank will allow it to be authorized. Regardless of whether or not the authorization is declined, we reverse our authorization request immediately. However, even if the bank declines the authorization, some people may still see an authorization for $1 on their credit card statement. The important thing to remember is that this is not a charge, and it will disappear from their statement; depending on the bank, it will be removed from their statement in anywhere from a few minutes to a few weeks.
Stripe will first attempt a $0 authorization in all cases except AMEX (which doesn’t support $0 authorizations - we try a $1 auth right away with AMEX.) If the $0 authorization fails, we’ll then attempt a $1 authorization.
- To see how this works, please read Stripe's documentation here.