PRCR Full Form in Banking
PRCR full form refers to Pre-authorized Credit. It's usually shows in the bank statement/bank passbook/ATM mini statement when you purchase items from e commerce sites or add money to e-wallet online by using debit/credit cards.
In simple words PRCR provides transaction information, whenever we are making the online transaction for some purchasing from an e-commerce site through our debit card then this transaction is called a
“PRCR /ECOM/DEBIT ” transaction means a pre-authoized credit (PRCR) on an e-commerce site.
PRCR Example:
PRCR / XXXX / XXXXX
In this format X in the middle may be E-commerce website, POS or Paytm
When we make a payment through UPI Paytm it's appears like this
PRCR / Paytm/12345.
PRCR charges:
PRCR is Pre authorized credit. It's not a service provided by the bank. At present no charges collected from customers account. PRCR is word that provides details of that transactions.
PRCR Meaning in Bank Statement:
PRCR word appears in Bank statement when we use debit or credit card to make a payment in any e-commerce website like Flipcart, Snapdeal, Amazon PRCR word will appear in bank statement.
PRCR Benefits:
1) PRCR provides details of the information related to banking transaction in e-commerce websites.
2) PRCR provides alerts related to e-commerce transactions.
3) PRCR is totally automated transaction.
Conculsion:
In this article you get to know about PRCR full form, PRCR mean in Banking terms, PRCR example, PRCR charges, PRCR meaning in Bank Statements, PRCR benefits. Dear readers if you have any queries kindly comment below.