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New Contributor
Posts: 58
Registered: ‎05-26-2009
0

Maximum amount of time for a debit card payment to clear?

My husband and I went on vacation to Orlando, FL 4/28/12 to 5/5/12.  Because we were on a strict budget while we there I used an App and logged in every transaction we used our debit card for, so we can see a running total of where we were on our spending each day and to be sure we stayed under budget.  Worked well and we came home with more money then we expected.  Yay!

 

Only problem is that now there are two transactions that never hit.  Small amounts, $31.74 and $43.51 ($75.25 total).  We did them at two different souvenir stores at two different times in Hollywood Studios (MGM).  One was definitly done at the Christmas Store back behind the Muppets 3D during the day time.  The other was done at a store in front of the park at night as we were leaving the park.  My husband does not remember if it was processed as a credit or debit card.  He doesn not recall if he used his pin number or he signed for it.

 

My question is, what is the maximum amount of time a merchant has to process this transaction?  I hate leaving this hanging open on my register!  Both my husband and I each seperatly asked someone at our branch and we each received two differnt answers.  I was told 90 days.  My husband was told 6 months.  So I decide to call TD Bank and speak to a rep, I was told 6 months.  When I asked if he was sure he said no and put me on hold and came back with 1 year.

 

So confused!!!!  Help!Smiley Frustrated

Epic Contributor
Posts: 25,865
Registered: ‎10-23-2007
0

Re: Maximum amount of time for a debit card payment to clear?

Sorry don't know the answer to your question but you say you used an "APP" on iPhone? What is it called?

MOD can this be posted? or just Private the info to me if you don't mind.

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
0

Re: Maximum amount of time for a debit card payment to clear?

Im pretty sure if you put your pin number when using you debit card the transaction ita instantly but if you use your debit card and select credit the merchant has 8 days to procces the transaction. If after 8 days the transaction its not process your not charged and its not posted to your account. At least thats with my bofa debit card...
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Valued Contributor
Posts: 1,969
Registered: ‎03-30-2012
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Re: Maximum amount of time for a debit card payment to clear?

I have a similar issue with my credit card...my favorite bar's POS system double charged me by accident.

 

The correct transactions have already posted but the erroneous transactions are still pending. I called them up and they said that it will drop off automatically in 8 days if the merchant doesn't update or settle them.

 

Good luck!

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Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
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Re: Maximum amount of time for a debit card payment to clear?

@ injustifiiable

I wasnt charged for a 200 bill at my local bar lol i paid with my amex green and i remember the bartender bein drunk and putting the receipt inside her bra lol its been 12 days and the pending transaction was taken off two days ago lol lucky me i guess
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Senior Contributor
Posts: 3,528
Registered: ‎01-19-2009
0

Re: Maximum amount of time for a debit card payment to clear?

I am sure they were processed as credit transactions as I never seen a pin pad at any disney theme park stores

Super Contributor
Posts: 6,156
Registered: ‎12-11-2011
0

Re: Maximum amount of time for a debit card payment to clear?


injustifiiable wrote:

I have a similar issue with my credit card...my favorite bar's POS system double charged me by accident.

 

The correct transactions have already posted but the erroneous transactions are still pending. I called them up and they said that it will drop off automatically in 8 days if the merchant doesn't update or settle them.

 

Good luck!


There's a bar here that does that too. I was very worried when the first time it happened, but it seems to happen every time I go there, one always falls off though. 

Regular Contributor
Posts: 150
Registered: ‎11-05-2011
0

Re: Maximum amount of time for a debit card payment to clear?

Are the charges pending or just not showing up at all?

Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
0

Re: Maximum amount of time for a debit card payment to clear?

Yeah check pending transactions on each card you took with you. It should show up there
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
New Contributor
Posts: 58
Registered: ‎05-26-2009
0

Re: Maximum amount of time for a debit card payment to clear?

No, it's not showing up in pending charges.  The transaction took place somewhere between 4/28/12 and 5/5/12.  Pretty sure it was on 5/3/2012.  It possibly showed up pending back then but I can't recall.

 

I once had this happen before...I ordered something from the internet and it did not hit my account for like 45 days.  I am just trying to find out what the regulation is when it comes to this situation.  Our bank, TD Bank, have given us 3 different answers.  3 months, 6 months, and 1 year.  This is a debit card.  we don;t recall if we signed as a credit transaction (more than likely) or entered a pin for a debit transaction.

 

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