Yes the sum of $49.95 still remains "pre-charged" but either way, I'm not able to use that money because it has been deducted from my bank account even if it still remains pre-charged. I don't know if banks elsewhere do it some other way, but here pre-charged means the money is out of your use, no longer in your bank account and no longer usable by you.
Yeah, like Ron said we don't know how your bank works - but many times banks will put a temporary hold on the sum that you charged. They do this, afaik, because they expect the actual charge to follow shortly. When no actual charge is made within some time period (determined by your bank), the hold is lifted.