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#269464 - 11/01/04 09:18 PM 90 Day-Old POS Transaction
ajthompson Offline
100 Club
Joined: Aug 2004
Posts: 247
SE, OK
On 10/25/04, one of our customers received a debit card charge to their checking account that was dated 7/26/04. I have never seen a lag such as this, and am unsure about any liability we, or our customer have. The customer is not saying that this charge is unauthorized, the time lapse is the only thing in question.

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eBanking / Technology
#269465 - 11/02/04 05:14 PM Re: 90 Day-Old POS Transaction
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Every so often a merchant will submit a transaction late, or a file will fail to get transmitted, resulting in such a delay. It does tend to bother some customers, particularly those that don't reconcile their accounts (they are the same ones who think if it hasn't shown up by day "X" they won't have to pay for it).

Unless your customer raises the issue of "unauthorized," the fact that the transaction is late is a non-issue. The customer should be grateful he had the use of the money for the extra time (90 days' interest at 0.5% on $100 is about 12ยข, after all )
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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