Why is my credit card declined even though I have money?

Why my credit card is declined

The message “your card was declined” is not a pleasant thing to hear. Financial institutions usually inform you when a credit card is denied at the time of payment. It is important to know the reasons so that you know how to act in this type of situation.

Among the possibilities are that there are insufficient funds in the account or that the card has not been activated prior to use. In this situation, the customer should request the receipt issued by the point-of-sale terminal (POS) to find out the reason for the rejection.

Sometimes it is simply due to an error in the connection at the time of payment. Above all, keep calm and know that there are a variety of reasons why the payment was not completed successfully.

Keeping personal accounts up to date requires organization and dedication. In addition, it is an exercise that contributes to improve people’s financial health and to have a monthly control of expenses.

Why a debit card is declined

The first thing to do is to keep calm and know that there is a wide variety of reasons why the payment with the card is not successful and not only because there is no balance or credit available to make the purchase. The first step is to ask the merchant to provide the receipt issued by the point-of-sale terminal (POS), since it is the first element that can indicate what is happening.

The first possibility focuses on the existence of failures in the communication processes along the purchase authorization path. In a general scheme, the merchant, when entering the card in the POS, requests the purchase authorization to the processor or ‘switch’ and this in turn to the card issuing bank or to the processor with which the bank issuing the plastic works. The issuing bank receives the request, processes it and provides a response according to its criteria, which is returned to the POS.

The receipt may indicate if there is a connection or communication problem in any part of the process, although it will not specify where. At the moment the communication is successful, the card issuing bank will review the conditions of the transaction and issue a response to the purchase request, the most common declined transactions being the following:

Insufficient balance, but I have money

Troubleshoot a failed or declined payment on a new purchaseIf you are trying to make a purchase on YouTube, but your payment is declined or cannot be processed, please identify which of the following situations matches your problem and follow the suggested steps. If your monthly membership payment was declined and you need help, learn more here.

Note: If you sign up for a free trial, a pending authorization hold may appear on your account. This is applied to check the validity of the payment method. Your bank will automatically remove it and refund it after a short period of time. However, you may not be able to register if your account does not have the amount of the hold. See this article for more information on withholding for pending authorizations.

Payment may not be possible due to a specific restriction on your card. Contact your bank or issuer to find out why the transaction was declined.

Insufficient balance but I have bbva money

Banco de México is the country’s central bank. It provides the national currency and has the priority objective, established in the Constitution, of preserving its value. It also promotes the healthy development of the financial and payment systems.

The Bank’s autonomy consists in the fact that it cannot be forced to lend money to the Government, that it operates with budgetary and managerial independence, and that it determines its own policies and instruments to achieve its primary objective of maintaining price stability, as well as to carry out its other functions.

International reserves are Banco de México’s highly liquid investments in foreign currency. These investments come from foreign currency obtained mostly from PEMEX, which by law must sell them to Banco de México in exchange for their equivalent in local currency.

International reserves, in general, function as an indicator that an economy is capable of meeting its foreign currency commitments, which provides certainty to its creditors and contributes to the country’s access to resources under better conditions.