Why is My Transaction Being Declined?
A Business Card transaction can be declined for several reasons:
1. Card Security Settings
Your myPOS card may be blocked for certain transactions for security reasons. To view your card’s security settings:
- Log in to your myPOS account.
- Go to the Cards tab.
- Select the appropriate card and check the Settings section.
2. Transaction Limits
Your myPOS Business Card has limits on transaction amounts and the number of transactions. These limits help manage your funds and provide additional security. You can view your card’s limits:
- Log in to your myPOS account.
- Check the Limits section at the footnote of every page.
3. Incorrect Card Details
For online transactions, ensure that all card details are entered correctly. Double-check the card number, expiration date, and CVV code, then try again.
4. Blocked Amounts by Service Providers
When using rental services or self-service facilities, a service provider may block a certain amount in your account. This amount is typically held for 45 days and then released. If you need the amount released sooner, a myPOS representative can assist you, though additional documentation may be required.
5. Insufficient Funds or Reaching Limits
Insufficient Funds: Ensure there are sufficient funds in your account.
Daily Spending Limit: You may have reached your daily spending limit. You can adjust your daily limits through the myPOS mobile app.
6. Card Activation
New Card: If you have a new card, activate it by making a Chip&PIN transaction first.
Expired Card: Check the expiration date. If the card is expired, request a new one.
7. Damaged Card
Physical damage to your card can prevent transactions. If your card is damaged, contact your card provider to request a replacement.
8. Card Machine Compatibility
The merchant’s card machine might not support your payment method. Ensure the POS terminal supports contactless or the specific type of card you are using.
9. Fraud Detection
Flagged for Fraud: Transactions might be flagged if the card is used in an unusual location or manner. Contact your card issuer to resolve this.
Credit Limit Reached: For credit cards, ensure you have not exceeded your credit limit.
10. Network or Technical Issues
Sometimes, transactions may be declined due to network issues or technical problems with the POS terminal. Retry the transaction or try a different terminal.