Yes. You've already paid for your existing time so even if you cancelled this second you would still be able to play your existing time. Cancelling just means you won't be charged for the next period.

"When you set up a new subscription (or change your payment method), our billing system will perform an authorization check. In this case, you'll see both an authorization check and the subscription charge on your account, both for the same amount. Only the funds for the subscription will be kept; the authorization charge indicates funds being placed on hold for the subscription until the authorization itself is complete.

Keep in mind that different financial institutions handle authorizations differently, so the time it takes for the funds from the authorization to be released to you will vary. For some players, it will be very quick (within 24 hours), and for others it could take several days if not longer.

Also worth noting is that in the future, we do plan to decrease the authorization amount so that it is no longer for the full amount.

ZOS_AmeliaR"

Can't say I've personally run into this issue myself, as my bank seemed to authorize almost instantaneously. The only glaring issue I can see is the extremely high initial authorization amount. While a charge being sent to your account to authorize it is common practice, I've never seen a charge outside of the $0.01-$3.00 range.