What is PRCR and Everything You Need To Know About It.

PRCR” in banking is a “pre-authorized credit” transaction. The full-form of “PRCR” is the same. Now, in this article I am going to explain all the suitable details on “PRCR” in banking terms.

PRCR is totally legal and it shows up on your statements when a transaction is made, principally international and e-commerce. It is completely normal as the other transactions made using your debit card. That is, if some debit is seen in your account statement and PRCR is seen written in front of that debit amount, then it means that you have used your debit card at any online shopping or any POS. It is completely legal from a banking point of view.

What does PRCR mean in a bank statement?

Whenever you shop at Amazon, Myntra, Flipkart etc. or make any payment by debit card in any POS, then the word “PRCR” will appear in your bank statement. This is only to inform you that you’ve used your debit card in the above mentioned place.

When to worry about PRCR transactions?

Any transactions made out of your context or instructions that could be in any case or in any situation. As a concerned bank account holder, you must keep an eye on your transactions.

Sometimes, many fraud and illegal transactions are made without your knowledge and the transaction id are directly sent to the passbook. In this case, proper steps should be taken at the right moment. The steps that should be followed will be discussed as we go further.

The benefits of PRCR.

The use of PRCR is very beneficial to us. Some of the benefits of PRCR are mentioned below.

  • Online shopping gives us complete details of banking transactions on the website.
  • Keeps us alert on all transactions of POS or E-Commerce.
  • When we get the bank statement, it tells us how the money was deducted from the balance of the transaction which you did not do. If ever you come to know that any such transaction has taken place, then i advise you to inform your bank.

Where do PRCR transactions show up in your bank statement?

Terminals are a point of sales such as big bazaar at which you pay them using credit/debit card or by cash. As well as the payment gateways can be said as POS where the electricity, gas, or mobile bills are paid.

Such transactions do not harm until and unless it’s out of your knowledge.

What is PRCR Paytm and PRCR E.Com?

PRCR Paytm is a word that appears in the bank statement if any amount is deducted or credited along with the city name.Th ere’s no fear as regular credit/debit transactions occur however if the UPI is used it would be shown before Paytm just like the PRCR and POS.

The word PRCR E.Com is also a word used by the bank itself. Whenever we do shopping from any online shopping E.Commerce site. Then our bank marks it as PRCR E.COM. From this word, we get information that this transaction has been done on the e-commerce website.

What are PRCR charges?

PRCR is not a kind of full-fledged service just like any SMS alert or a ATM service but to show the mode of transaction in the statement.

So, there’s no kind of charge that is charged for it. But the full amount that is deducted or credited is shown using PRCR in the statement.

What to do if my statement showing PRCR with the amount is deducted without my concern ?

First to note, if the transaction is made without your concern first contact your bank using their customer care number or visit the bank immediately. Next to avoid any further deduction block the card.

Such transactions might be dangerous and can have been made to purchase illegal arms and items.

If you are more concerned and it’s actually worth it if anything goes wrong like –

  • Filing FIR.
  • Complaining to the Cyber police if any amount is deducted.

Immediate or within 3 days complaint can increase the chance of getting the money back. Because as said by RBI, if a fraud transaction is performed by a third party or a double deduction by banks such as for the EMI or payment, the bank is liable to refund the money back to the customer’s account.

Note: In this case, you can also only disable the international transaction option to safeguard the account.


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