I have a €0.50 charge from mytaxi on my bank statement - what is this for?

The process that our merchant services provider (the company that processes all card payments for mytaxi) follows when a customer registers a card or when they hail a cab involves pre-authorising the card for €0.50.

We don't actually take a €0.50 payment and the pre-authorisation should expire immediately after the full fare is processed. Unfortunately this is the only way we have of ensuring that the card is valid. In our experience, this usually takes banks between 2 and 5 working days to remove from your statement.