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Debit or Credit?

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Questions & Answers for Debit or Credit?

Question

what does pending mean on a debit card transaction?

Whenever i use my debit card as a debit card or credit card it says pending for a couple days and . What i would like to know is why does it say you have this amount then when a purchase posts the amount changes, this is annoying and confusing, because you never really know what your balance is.
Asked 4 years, 10 months ago
by victom
texas
0points
0out of 0found this question helpful.
5 answers
Answers
answer 1
To put it in non-financial language, when you make an electronic purchase both the bank providing the money and the vendor charging the money have to reach a concurrance on the amount. This also has to pass through the credit card company ie-MC. It takes a bit of time and shows pending in your account almost immediately. Just think how long you would wait for a clearance if you mailed a check and waited for your monthly statement.
answered 4 years, 7 months ago
by kaywoodie
Manchester, NH
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0out of 0found this answer helpful.
answer 2
Don't let the online banking balance your account. If you can add and subtract you should be able to figure out your correct balance.
answered 4 years, 7 months ago
by zjohn
overseas
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0out of 0found this answer helpful.
answer 3
Generally when you see a pending ammount that changes when it finally posts it is for a pre-authorisation. Gas Stations generally show up as a $1 pending when you pay at the pump an then later switch to the correct ammount. Track your receipts and compare them to you online statement and you will be able to nail down which vendors pre authorize an ammount different than the final ammount.
answered 4 years, 7 months ago
by bmneely
Helena, Montana
+1point
1out of 1found this answer helpful.
answer 4
When a merchant runs your debit card, they send information to the bank so the bank "holds" the amount requested. Then later that day, or sometimes a couple of days later, the merchant batches their transactions and sends to the banks the information on the actual transaction. This is when your transaction hard posts to the account. Yes sometimes the amounts are different. For example at the gas pump, they usually run your card for one amount when you swipe it, such as $75 to authorize and make sure you have the money to cover your gas and then when they batch the transactions is when the actual dollar amount you spent is deducted. At a restaurant, you will normally see the pre-tip amount in pending, but when it posts it is the amount after the tip.
answered 4 years, 7 months ago
by Chipmunk
WA
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answer 5
USAA is the only bank, that I know of, that takes your money from your current balance the minute you swipe your credit or debit card -- it still says pending because the vendor must batch their credit card machine (usually nightly or some businesses wait a few day's) to finish the transaction. I have two accounts one with USAA and another with a local San Antonio Credit Union -- this paticular Credit Union does not pull your money immediatly it waits untill the business batches (hence the pending statement) before I get a balance update. Usaa gives you your true balance and posts it to your account the minute you swipe your card . the same goes for any ATM use.
answered 4 years, 7 months ago
by Peytconn
San Antonio, Texas
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0out of 0found this answer helpful.
Question

Fee for Debit?

Is there a fee for using debit over credit? I had read in the newspaper one time that if you used debit there were hidden fees. So I have always used credit when they ask debit or credit?
Asked 5 years ago
by Soldier6575
Columbus, OH
0points
0out of 0found this question helpful.
2 answers
Answers
answer 1
With different financial insitutions they charge a fee for ATM withdraws from machined not serviced them. Some banks consider a debit transaction a cash witdraw and will charge anywhere between $.75 to $3.00 per transaction. With USAA you get 1% cashback for using it as a a credit card as an added perk so I always use it as a credit transaction regardless.
answered 4 years, 7 months ago
by Coasty4life
Rochester, NH
0points
1out of 2found this answer helpful.
answer 2
I have always used my USAA debit card and never had a credit card.I never got charged for that.
answered 4 years, 11 months ago
by Maverick
San Antonio
+1point
1out of 1found this answer helpful.
Question

Can you make returns to a debit card and if so does it go back to your checking?

Asked 5 years ago
by LMTexas
Texas
0points
0out of 0found this question helpful.
2 answers
Answers
answer 1
Yes and yes.

I really is no different than a credit card that way. Although just like a credit card, it may take up to a week for the credit to appear on your card.
answered 4 years, 7 months ago
by spandem
Andover, MN
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0out of 0found this answer helpful.
answer 2
My experience has been yes. Return policies vary from store to store and if you have a receipt showing you paid with a debit card, a return will show up as a credit on your checking statement.
answered 4 years, 7 months ago
by Dale
Forest Grove, OR
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