Yes. You will be charged a pre-authorisation fee on your credit or debit card. This means that the funds have been placed on hold as a pending charge in your account, and you may see it has been removed from your available balance. However, nothing will be taken out of your account and no charges will occur until the end of the rental.
Europcar releases the pre-authorisation immediately upon return of the vehicle via an electronic message to your bank. The actual release process can take up to 15 business days however generally it is completed within 3-7 business days depending on your bank. You will not see a refund, instead the pending transaction will disappear from your account