What is the difference between a hold and a charge on my credit card?

When you submit a booking request on Sailo, you need to enter your credit card information. A payment preauthorization request is sent to your bank and  a hold is placed on your credit card for the amount due. If any of the below situations occur, Sailo cancels the hold and your money is instantly released to your card. Depending your bank it may take between a few minutes and a few days for them to show it on your statement. If you have any questions please contact your bank.

Sailo does not charge your card when:

• You cancel the booking request before the boat owner accepts it
• The booking request expired because the boat owner did not take any action (24 hours after booking request was submitted)
• The boat owner declines the booking

The moment your booking request is Accepted by the boat owner, Sailo charges your card for the amount under hold. Any refund after a card was charged may take 5-10 business days depending on your bank. Once Sailo approves and executes a refund you will receive an email with the refund receipt. If you expect a refund and don't receive such email please contact Sailo at support@sailo.com. 

In summary, the difference between a hold and a charge is that a hold can be cancelled and the money gets  immediately released to your account, while a charge requires a refund and it may take 5-10 business days for the money to reach your account. These timings will vary depending on your bank. Also, some banks may sometimes inaccurately display a hold as a charge.