Discussion»Statements»Rosie's Corner» For those of you who use DEBIT cards to purchase things how fast does the transaction hit your account? Immediately or days later?
It is immediately. I took the overdraft allowance off mine. So if I forget something and try to run my card it will decline instead of covering it and charging me a fee.
Thank you for your reply m2c. I used it on Friday in Arizona for the motel bill and it still didn't show up on my account as of today. On the motel bill it said in small print that it might take 7-10 working days for the charge to be taken out of the account. I was at the bank yesterday and asked. She said it usually hits immediately BUT the establishment, whether hotel or restaurant or commercial business, is really the one that controls the speed of it. I usually just pay cash or write a check on the spot but I didn't this time. So I'll check back next Wednesday. That will be 10 working days. You'd think they'd want their money ASAP! :)
It depends on the bank and transaction. I had one bank that didn't process things until days later. My primary bank is usually instant. i.e. I fill up at a gas station and the charge is already noted in my account when I leave. Some places I purchase from take longer than others to show up though. I've had stuff show up a week or so later.
I've had the Debit Card for years JA but I've never debited anything until Friday when we were in Arizona at a motel. I checked with my bank Wednesday to see if it had hit and it hadn't. On the bill it says it could take 7-10 working days before the money is taken out of the account. Why they would wait so long I have no clue. I'll check again next Wednesday which will be 10 working days!
This post was edited by RosieG at May 23, 2019 2:57 PM MDT
It beats the alternative. A lot of them will put a hold on the charges for the room as well as a portion for incidentals (calls, snacks in the room, etc.). Ergo, you could book a room that's $100/ night and have them put a hold for $200-300 per night. That's a huge pain if you need the funds for other things because you can't tap into the cash until the hold drops off, which can take several days.
Thank you for your reply Shuhak. I've had the card for years but just used it for the first time last Friday. Checked with my bank yesterday and it still had not hit so I'll check again next Wednesday. Weird. You'd think they'd want their money ASAP! :)
That's weird. It should have at least shown as "pending" by now. Some "obscure" vendors (ie. mom & pop establishments) may not have the ability to post a transaction directly to the bank's computer. Therefore it won't post until they run their books.
It was a QUALITY INN in Buckeye, Arizona. Don't know how large a chain it is but our son booked the two rooms for Jim&me and himself and his wife-to-be. So I'll check at the bank again on Wednesday of next week. Thank you for your reply! :)
my2cents 