Bank screwed up?

[ThePresence]

I made a $300 purchase last week with a debit card. It showed up on my account that night. I had not logged into this account since that night until today. The purchase is not there anywhere in my account history, and the balance is $300 more than it should be. What to do?

 

[Capt Caveman]

What did you buy?

 

[ThePresence]

Originally posted by: Capt Caveman
What did you buy?

A suit.

 

[Alistar7]

Had that happen to me before, don't worry it will show up again soon enough.

 

[Vette73]

Originally posted by: Alistar7
Had that happen to me before, don't worry it will show up again soon enough.

/Thread

 

[Nocturnal]

If you used your debit card as a credit card (you actually signed for the receipt) then the charge is temporarily held from your account. It drops off after a few days. Once the retailer sends in or does their batch report then the charge is submitted and the proper amount is deducted.

 

[ThePresence]

Originally posted by: Nocturnal
If you used your debit card as a credit card (you actually signed for the receipt) then the charge is temporarily held from your account. It drops off after a few days. Once the retailer sends in or does their batch report then the charge is submitted and the proper amount is deducted.

I understand that, but the charge had appeared already and the amount was already deducted from my balance. Now my balance is showing +$300 that I spent, and that it had already deducted.

 

[Uppsala9496]

It'll find its way back into your account.

Same thing happened to me with my car payment (auto deduction). Showed up, went missing, and then showed up again a month later. So it looks like I paid twice that month on my statement.

 

[Nyati13]

Originally posted by: ThePresence

Originally posted by: Nocturnal
If you used your debit card as a credit card (you actually signed for the receipt) then the charge is temporarily held from your account. It drops off after a few days. Once the retailer sends in or does their batch report then the charge is submitted and the proper amount is deducted.

I understand that, but the charge had appeared already and the amount was already deducted from my balance. Now my balance is showing +$300 that I spent, and that it had already deducted.

The first charge was just a temporary hold, basically it just tapped your account for the purchase amount to see if it "bounced" or "approved". This happened right when the cashier swiped your card and it reports "approved" so they can let you walk out of the store with the suit. This first tap is not a legal exchange of funds, it is only a request to verify funds availability.
When the store processes their credit card register, that charge will be applied to your account as an official funds transfer to the retailer.

 

[Ns1]

Originally posted by: Nyati13

Originally posted by: ThePresence

Originally posted by: Nocturnal
If you used your debit card as a credit card (you actually signed for the receipt) then the charge is temporarily held from your account. It drops off after a few days. Once the retailer sends in or does their batch report then the charge is submitted and the proper amount is deducted.

I understand that, but the charge had appeared already and the amount was already deducted from my balance. Now my balance is showing +$300 that I spent, and that it had already deducted.

The first charge was just a temporary hold, basically it just tapped your account for the purchase amount to see if it "bounced" or "approved". This happened right when the cashier swiped your card and it reports "approved" so they can let you walk out of the store with the suit. This first tap is not a legal exchange of funds, it is only a request to verify funds availability.
When the store processes their credit card register, that charge will be applied to your account as an official funds transfer to the retailer.

True.

 

[ThePresence]

Originally posted by: Nyati13

Originally posted by: ThePresence

Originally posted by: Nocturnal
If you used your debit card as a credit card (you actually signed for the receipt) then the charge is temporarily held from your account. It drops off after a few days. Once the retailer sends in or does their batch report then the charge is submitted and the proper amount is deducted.

I understand that, but the charge had appeared already and the amount was already deducted from my balance. Now my balance is showing +$300 that I spent, and that it had already deducted.

The first charge was just a temporary hold, basically it just tapped your account for the purchase amount to see if it "bounced" or "approved". This happened right when the cashier swiped your card and it reports "approved" so they can let you walk out of the store with the suit. This first tap is not a legal exchange of funds, it is only a request to verify funds availability.
When the store processes their credit card register, that charge will be applied to your account as an official funds transfer to the retailer.

I never had this with any other purchase. Usually when I make a purchase it goes into "Pending Transactions" for a day or two, and then posts to the account. This charge is just not there. I've never seen a charge appear and then dissapear before.

 

[JS80]

the merchant or merchant processor hasn't processed the batch yet. the $300 you initially saw was from the authorization. Then the merchant needs to batch post to officially collect the money.

 

[Schfifty Five]

No free suit for you!

 

[Pabster]

This happens to me on occasion. Usually with pay-at-the-pump gas. Sometimes the charge never comes through, then maybe 3 weeks later I get hit for it finally with a note like "NOT CHARGED ON XX-XX-XX - DEBIT" or something to that effect.

Don't think you got away with anything

 

[aplefka]

Definitely thought this happened to me, although it was $400 on my credit card. Checked last night and saw that I had a huge credit line left for how much I thought I had spent over the past few weeks. Then I check again today to make sure I'm still in the clear and notice they bumped my credit line up by $500 without my knowing.

Although I am happy to have the credit line bumped up. Looks good on my report I'm sure.

 

[IEC]

It's a temporary charge or hold, and then it registers later. Banks do like to debit very quickly and clear deposits/ACH transfers very slowly, however.

 

[ThePresence]

Originally posted by: Spartan Niner
It's a temporary charge or hold, and then it registers later. Banks do like to debit very quickly and clear deposits/ACH transfers very slowly, however.

On most purchases there is a temp. hold and it shows up under pending transactions. In this case it was there, and then poof, it's gone.

 

[StageLeft]

These "mistakes" are never mistakes, they'll get their money soon enough. Heck I had a charge I noticed yesterday and called up my CC company and found out it was for a purchase we made TWO MONTHS AGO and the company only now asked for the cash! They always get ya!

 

[ThePresence]

Originally posted by: Skoorb
These "mistakes" are never mistakes, they'll get their money soon enough. Heck I had a charge I noticed yesterday and called up my CC company and found out it was for a purchase we made TWO MONTHS AGO and the company only now asked for the cash! They always get ya!

Yeah, but did you ever have a charge dissapear AFTER it was already charged to your account?

 

[anxi80]

for you!

 

[ThePresence]

Originally posted by: anxi80
for you!

 

[Nyati13]

Originally posted by: ThePresence

Originally posted by: Skoorb
These "mistakes" are never mistakes, they'll get their money soon enough. Heck I had a charge I noticed yesterday and called up my CC company and found out it was for a purchase we made TWO MONTHS AGO and the company only now asked for the cash! They always get ya!

Yeah, but did you ever have a charge dissapear AFTER it was already charged to your account?

It depends on if it was a "hold request" or a "funds availability request". Hold requests stay in your account as pending, until the retailer processes their register. A simple "funds availability" check will dissappear from your account log after a day or so, but the actual debit will still occur after the retailer runs their credit card account.