What is PRCR Full Form in Banking?
The PRCR full form in Banking is Pre-Authorized Credit. It is generally shown in the passbook as an already authorized payment that has been completed successfully through the debit card. PRCR is fully legal, and it appears on your statements whenever a transaction occurs, particularly in international and e-commerce. Returning to the subject, this is just like any other transaction you make with your debit card.
When to worry about PRCR transactions?
Any transactions performed outside the context of the account holder and which could occur in any instance or situation are generally branched under PRCR transactions. As a concerned bank account holder it is mandatory to keep a watch on your transactions, whether they are made or not. There are chances for numerous fraudulent and illegal transactions taking place without the knowledge of the account holder and the transaction ID is sent immediately to the passbook.
PRCR Charges:
PRCR is not a full-fledged service, such as an SMS alert or an ATM service, but rather displays the mode of transaction in the statement. So there is no fee for it. However, the statement shows the total amount deducted or credited using PRCR.
Other full form of PRCR
- Payment Reversal Credit
