Credit Card Charge Authorisation
Can the Neat card be used for monthly subscription service where a charge authorisation form is needed and signed? Or does it depend on the merchant?
I want to use the Neat for gym and for insurance but I want to make sure it is feasible before I actually sign anything with them.
And if this is ok, anything I should know? Like what would happen if, at the time of payment, there is not enough funds in the Neat account?
For gyms or other offline business it will be fine, we have many customers use their cards for gyms. Many online subscriptions, especially if it's smaller amounts (e.g. Netflix, Spotify) will also accept prepaid. It's mostly some expensive SaaS subscriptions or some online (subscription) services where the final bill is not pre-determined (pay based on usage) where prepaid may not be accepted because of risk, but it's up to the merchant.
If you don't have enough money, the merchant will go through the same processes as if you'd be over your credit limit with your credit card. They will try to take the amount, inform you it failed, and urge you to pay. Some merchants will try to take the amount once or twice, but others will automatically keep making attempts every few hours or days and in that case, please note that if you have 5 consecutive failed transactions because of insufficient balance, your Neat Card will be locked (security reasons). In that case you will need to contact us and we will unlock the card for you within a day.
For your information, by default if you accept MasterCard as a merchant, all cards will be accepted. For a merchant NOT to accept prepaid they have to actively change their system so smaller merchants, offline merchants won't usually do this and businesses will only do it if there is good reason for them to.
understand. thanks for the reply!