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Debit Card transactions or EFT's
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Posted by Steve C. on October 31, 2001 at 15:54:37:
I have noticed someing very interesting.
When I use my debit card its just like a writting a check. Now when I use the credit feature of this card its like using a regular credit card. My interesting notice was this. One store I had purchased an item that later I returned. I then proceded to get another product. It seemed the amount was credited back to my card right away.
The second place I had used it I had low funds in the bank after useing the credit feature of the card.
I returned the product and again was told that my card was recredited. Now here is the most puzzling part. NO where can I find any information that tells me the minimum I have to wait before the funds are available to me. Does anyone have any information or could you point me in the right direction. It is my understanding that if a bank/company holds funds in a pending way they can make money off of it. Is this the reason I have to wait for them to recredit my account?
Steve C.
Thanks to anyone in advance
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