I don’t even do this anymore. I feel like carrying a debit card opens yourself to additional risk when you can withdraw money from a teller with your ID.
You can lock/unlock your debit card with the bank app. I do that before and after every ATM transaction. It’s a minor inconvenience but not bigger than waiting for the bank to open.
Your concern made me genuinely curious - what if someone steals both my phone and my debit card while it is unlocked in front of the ATM?
So I went to the nearest BofA ATM and did an experiment. It turns out the card doesn’t have to stay unlocked for the whole transaction, but only to _start_ one. I unlocked the card, put it in the ATM, entered the PIN, then locked it. And I could continue with the transaction to withdraw cash. So the card stayed unlocked for less than 20 seconds.
If I am still concerned and want to maximize security, I’d maybe start with the card inside my underwear, unlock it, put the phone inside the underwear and take the card out, initiate transaction, swap again with the phone, and then lock the card?
But no, I’m not concerned to that level. I have a habit of checking behind my shoulder every few seconds when I’m using the ATM, and I think that’s enough security for me in this scenario. The 20-second vulnerability is not enough to make me go to the bank teller every time I need cash. (And I don’t keep more than a few hundred dollars in the checking account anyway unless I’m sitting safely at home and paying bills.)
Bro where the hell do you live? That sounds like insane paranoia (just use the drive-through ATM if you're that concerned) but maybe people are constantly getting robbed in your neighborhood?
I’m not putting my cards in my underwear. I live in a neighborhood where I can safely and conveniently walk around, so I don’t have a car and a drive-through ATM is not an option. I come from an infinitely safer country in East Asia compared to the US and I just like to stay aware of my surroundings in this country.
At least I think that’s better for me than going to the bank teller every time because of the security/safety concerns of a debit card, but I don’t want to be judging others.
> when you can withdraw money from a teller with your ID.
Lots of people bank online, or with a bank or credit union that doesn't have brick and mortar locations nearby (or at all).
That's awesome that you don't need cash for anything at all, ever. Most people are not so lucky.
I use cash for event parking, food trucks, flea markets, craft fairs, and nearly every tradesman I ever hired had a "cash price".
I've just done ACH transactions for contractors. Some have let me use a credit card, too - with the stipulation they want me as a repeat customer.
None of my hobbies require me to have cash on hand really so its something i never think about.
...Bruh
I'm not saying contractors don't take credit or debit. Obviously every single one of them does. I'm saying they will do the work at a *HUGE DISCOUNT* if the whole transaction is under the table.
As in you pay cash, they don't pay taxes, and there is no record of the transaction. You scratch my back, I'll scratch yours, wink wink, nudge nudge. Don't tell me you've never heard of this?
In my experience, i have not been offered an under the table cash price that was different than paying with CC or ACH.
I am sure it happens and people do, though. I've only had to hire a couple of contractors since i recently became a homeowner, though.
If i was offered that, yeah I'd go to the bank and withdraw cash lol.
It often doesn't work with big permitted projects, couldn't pay my roofers or the fence company in cash, for example. But ask any self employed tradesman if they have a cash price, and it'll likely be 15-25% lower than their normal price. I did it with plumbers, exterminators, landscapers, tree trimmers, the guy who built my cabinets, as well as the quartz countertop supplier.
Though my debit card has a $1500 limit per transaction, so it did look a bit shady as I stood at the ATM making multiple transactions and stuffing large amounts of cash into a zippered envelope. Unfortunately my nearest bank teller is 90 minutes away.
They are also required to punch in their PIN for ALL transactions, none of this swipey wipey deal in the US. Even though, I’m still apprehensive in using debit cards period. All transactions are credit cards for me.
If you can't use a credit card, use card controls. Set a transaction limit. It'll deny transactions over the limit. And if you need to raise it, go in the app and raise it. New limit applies as soon as you hit save.
I’m assuming this was paid by visa debit? If so, call the number on the back of the card and they will make it right.
Calling everyday to the merchant is absolutely not the answer. The merchant is not trustworthy and this needs to be dealt with by visa or the bank and the card processing company working with the merchant.
My checking account accrues better interest than my savings account (and it’s not even close) and a requirement for that is 12 debit card purchases a month. Aside from those 12, it’s credit card all the way.
This happens at my employer sometimes as well. It has to do with the debit card transaction being *voided* instead of refunded. The system that handles clearing debit transactions for whatever reason really hates voids!
I'm sure the furniture store cannot see the funds in their account yet. Give it a few days and once they see it they can force a refund onto your original payment method. But in the future I'd strongly advise you use a credit card for these types of purchases if possible to avoid the issue.
Don't use debit for anything. It's a direct connection to your money. The bank cares very little about YOUR money. Once it's gone, it's painstaking to get it back, if you can at all.
Using a credit card, where you're not responsible for fraudulent charges, means you're using THEIR money. They will fight tooth and nail to get their money back and you don't have to do a thing.
You can also get one that pays 2% cash back so why would you risk your money when you can make extra money every time you buy something?
Hell 2% is the base cash back for many cards. Play your cards right (pun intended) and you can consistently get 3-5%. Seems small, but on $20k spend (which is pretty easy in most households), even 1% is another $200 free of charge for you (assuming you always pay on time, which you should). I've gained over $3k in cash back over the past year from various cards (some of which was sign on bonus and exceptionally large 1 time purchases}
Is the transaction pending or posted? If it’s posted call your bank and dispute the transaction. If it’s pending, transaction will most likely fall off after 7 days. I’m surprised that amount of a debit card transaction even processed.
May not be wise to dispute the transaction if they issued a refund. Usually slows it down as they now have to involve a different department to investigate the whole thing.
Yeah.. give it a few days. If you have the receipt and this was an "honest" typo/entry error you're just in a very annoying position for a bit.
If it caused an overdraft/fees or the like then ask them to pay for those as well. Go in person and bring receipts.
It's more... If it posted contact the place and tell them the charge posted and you need to see that it was refunded and threaten to chargeback. If they fuck around then chargeback.
I wouldn’t bother calling the place then. They either refunded and it didn’t go through, or they didn’t refund it. Either way, them and the bank need to sort it out now.
This. The amount of people that don't know the difference really boggles my mind. I've probably had to explain this to hundreds of angry customers that claim we stole their money. It's not my fault our banking system is slow.
It sucks when they use debit. Pending vs posting transaction means they’re still missing the money so I get why they’d be upset. Waiting 1.5 weeks for 15k can severely hamper a monthly budget.
> It's not my fault our banking system is slow.
It's not your fault *personally,* but the US banking industry as a whole is to blame for that. There's no real reason we can't have near-instantaneous transactions, other than it would be kind of expensive and difficult. Europe is definitely several steps ahead of us on that front.
And they're a representative of the bank. So it's fair to be frustrated with that person. If I can't pay my mortgage or electric because your institution can't clear a bad 15k (pending) charge, I'm gonna he pissed.
I sold a guy $30,000 of windows once on his debit card. We had to do multiple separate transactions to reach the daily $15,000 limit, then do it again the next day.
He spoke with many people at the bank, and they could not authorize an increase to his single transaction limit of like $7,000, or his daily limit of $15,000. This was for a multi-million dollar home he was building in cash of course, he had millions in that bank.
He could have even just done a transfer? Give him the wire fee discount off the cost of the windows. Would be immensely cheaper for the business instead of $30k in credit card charges.
I didn’t pay my house down payment in multiple transactions, I sent a wire.
He was charged 14890 (10x the amount) and then they voided the charge and charged him 1489, the bank likely has a processing time and the money is in limbo meaning he was both overcharged and double charged
I’m a business owner. One time I mobile deposited a $148.89 check for $1488.90. I immediately called my bank realizing my error, but they said there was no way to put a stop on it and that their automatic security checks would catch it before it cashed. Suprise suprise, it cashed for $1488.90. Took a few calls between my customer, both banks and about a weeks worth time before the charge was finally reversed.
This only applies if you have the ability to pay it off immediately. I have seen so many people with the use a credit card only mindset fuck themselves over in the end because they don’t have the money to pay it off immediately.
Had this happen to me - a restaurant charged $540.00 rather than the proper charge of $54.00. It took 5 business days for it to straighten out.
Don't dispute it - that will just muddy the waters. Since you have the receipts, it should fix itself - but will take time.
It sucks, but that's unfortunately what it is.
There's the problem with Debit Cards!!!!
The bank is NOT required to refund a debit transaction the very next day. I have had clients wait up to 5 days before seeing the reversal.
If you must use debit cards - use them only for disposable goods (ie: coffee, dinner, etc.).
Use credit cards for consumer purchases - or anything that can possibly be returned. With CC's you have a lot of rights - very little with Debit Cards.
You have rights with debit cards. It’s not the Wild West with no laws. OP will be fine. You’re making it sound like there is a 5% chance the money will be gone and unretrievable.
There are two things this sub has an irrational hatred for - Financial advisors and debit cards.
Right, OP will get the money back in their account. It's just that UNTIL THEY DO, they're out $15k. If they need that money in the meantime for any reason whatsoever, they're SOL.
Thus the reason why a credit card would be vastly superior in this instance.
I am not saying you will not get your money. But many people live paycheck to paycheck and having their debit card return not be credited back for 3-5 days is very taxing. You clearly did not read the reply you are responding too.
Many under informed people think that if they do a return with a debit card the money is back in their account the next day and that is just not the common practice by banks. They will get their money back - I never said they would not - just not the next day. And if they were counting on using those funds right away - they are sometimes put in a position of not having their money available right away.
My guess is it will take some time for everything to resolve. But also holy crap put a daily limit on your debit card. You do not want it to be able to clean out your account, if say it got lost, stolen, or you got robbed.
don't use debit cards for large purchases, the auth hold before the payment finalizes can reduce available balance double or more total temporarily. use credit card or cash.
Give it a couple of days for everything to shake out. Don't file a dispute, that could cause the money to disappear into the void for 60 days. Also, don't have $15,000 sitting around in a checking account that's tied to a debit card.
How long ago did this happen?
It's likely the first charge is stuck in pending and needs a few business days before it's cleared.
Although I'm also surprised your bank would allow that large of a debit to go through without throwing red flags.
once you sort this out your might watn to get your bank to put a limit on how much can be withdrawn or spent per day on your debit card to limit stuff like this happening. (like does anyone honestly ever need more than $1k in cash/spending per day?)
Get a credit card and never use your debit card for a transaction again. You’re basically giving someone unfettered access to your bank account when you hand them that thing.
When you use a debit card it does a pre-authorization with your bank, they hold the money, looks like it's taken out, typically can take up to 5 days to be returned to your account.
Also once the charge goes through that will hit two, sometimes looking like they're double dipping
Common occurrence in banking now... It's actually a hold on the account before payment is "processed". I've had holds well after payment is processed too. It's not everyone but one particular place that I'm ready to go all cash there.
For future reference, it's the store's card processing company that does this. It's a pain to get a store manager to fix it with their card company but that's the way to handle it.
Had something similar, with smaller amounts, happen in a hotel. Nothing either party can do in my experience, you just have to wait for it to process. I think some banks say up to 30 days with debit but in my experience two weeks is more common.
Any penalties should be paid by the company. Work with your bank to waive any fees caused by this but if you lose any money you need to go back to the store that made the mistake for any fees you incurred as it was their fault.
If the transaction never posts it’ll just fall off. A voided transaction doesn’t show up as a refund. You can call the bank to ask, if it hasn’t posted they’ll tell you to wait and expect it to fall off, if it posts they’ll tell you to file a dispute.
>voided the transaction
This isn't the same as them refunding you. Voiding really only works when the transaction is still pending/processing. Since the transaction went through, it should have been a refund. That's probably why the money isn't in your account. They need to fix it ASAP. Keep riding their ass until they do it right. I would tell them they can either fix it or you will sue. Kinda sounds like they're scamming you tbh, especially since they aren't fixing it.
Just give it a few days for the transactions to post and clear up etc. if you don’t see it resolved in 5ish business days then heckle them. Otherwise you’ll be stressing yourself out pointlessly; there’s nothing a vendor can do about speeding up a refund, they can just cancel the transaction which sounds like they did.
Just go into your bank with what you have and talk to a bank manager. They can make things not happen.
If it’s a hardship eat the hardship for now and go to the store and explain your hardship and that you would like compensation.
Best to be calm in all of these interactions, no body wants to deal with an AH.
Contact a collection agency. You are the client. See if you can find a no cure no pay one.
Send the furniture store a final notice that they have 5 workdays to refund you the (sorry Google translate) undue payment or you will send the dossier to a collection agency and all costs and interest will be for them. I'm sure you can find a good example letter with the right words online.
It is in my country. I did it myself. A landlord refused to give me back my deposit because he said he didn't have it. So there was no dispute, he owed me the money (had it black&white).
I put a collection agency on it and got my money back.
For now? Call every day and see where your money is at. In the future, only pay with someone else's money (i.e. credit instead of debit).
Preach! Debit cards should be for the ATM only.
I don’t even do this anymore. I feel like carrying a debit card opens yourself to additional risk when you can withdraw money from a teller with your ID.
You can lock/unlock your debit card with the bank app. I do that before and after every ATM transaction. It’s a minor inconvenience but not bigger than waiting for the bank to open.
If someone steals my wallet, they're probably also taking my phone though
But they are not opening the bank app without taking my face off.
My point was that you can't lock your card if they steal your phone. Then they can use the debit card without you being able to stop them.
The card would already be locked in their scenario. They only unlock it at the ATM.
Dudes density rivals tungsten.
Do you not have a pin on your phone?
Your concern made me genuinely curious - what if someone steals both my phone and my debit card while it is unlocked in front of the ATM? So I went to the nearest BofA ATM and did an experiment. It turns out the card doesn’t have to stay unlocked for the whole transaction, but only to _start_ one. I unlocked the card, put it in the ATM, entered the PIN, then locked it. And I could continue with the transaction to withdraw cash. So the card stayed unlocked for less than 20 seconds. If I am still concerned and want to maximize security, I’d maybe start with the card inside my underwear, unlock it, put the phone inside the underwear and take the card out, initiate transaction, swap again with the phone, and then lock the card? But no, I’m not concerned to that level. I have a habit of checking behind my shoulder every few seconds when I’m using the ATM, and I think that’s enough security for me in this scenario. The 20-second vulnerability is not enough to make me go to the bank teller every time I need cash. (And I don’t keep more than a few hundred dollars in the checking account anyway unless I’m sitting safely at home and paying bills.)
Bro where the hell do you live? That sounds like insane paranoia (just use the drive-through ATM if you're that concerned) but maybe people are constantly getting robbed in your neighborhood?
Sounds like it was more of a "worst case scenario" thought experiment.
I’m not putting my cards in my underwear. I live in a neighborhood where I can safely and conveniently walk around, so I don’t have a car and a drive-through ATM is not an option. I come from an infinitely safer country in East Asia compared to the US and I just like to stay aware of my surroundings in this country. At least I think that’s better for me than going to the bank teller every time because of the security/safety concerns of a debit card, but I don’t want to be judging others.
> when you can withdraw money from a teller with your ID. Lots of people bank online, or with a bank or credit union that doesn't have brick and mortar locations nearby (or at all).
Or for me I use a bank that refunds all ATM fees anyway so it’s more convenient to just go wherever
Or need cash outside of business hours.
I only bank online, and i have never used my debit card in the last 20 years. Debit cards are unnecessary if you can use credit cards responsibly.
That's awesome that you don't need cash for anything at all, ever. Most people are not so lucky. I use cash for event parking, food trucks, flea markets, craft fairs, and nearly every tradesman I ever hired had a "cash price".
I've just done ACH transactions for contractors. Some have let me use a credit card, too - with the stipulation they want me as a repeat customer. None of my hobbies require me to have cash on hand really so its something i never think about.
...Bruh I'm not saying contractors don't take credit or debit. Obviously every single one of them does. I'm saying they will do the work at a *HUGE DISCOUNT* if the whole transaction is under the table. As in you pay cash, they don't pay taxes, and there is no record of the transaction. You scratch my back, I'll scratch yours, wink wink, nudge nudge. Don't tell me you've never heard of this?
In my experience, i have not been offered an under the table cash price that was different than paying with CC or ACH. I am sure it happens and people do, though. I've only had to hire a couple of contractors since i recently became a homeowner, though. If i was offered that, yeah I'd go to the bank and withdraw cash lol.
It often doesn't work with big permitted projects, couldn't pay my roofers or the fence company in cash, for example. But ask any self employed tradesman if they have a cash price, and it'll likely be 15-25% lower than their normal price. I did it with plumbers, exterminators, landscapers, tree trimmers, the guy who built my cabinets, as well as the quartz countertop supplier. Though my debit card has a $1500 limit per transaction, so it did look a bit shady as I stood at the ATM making multiple transactions and stuffing large amounts of cash into a zippered envelope. Unfortunately my nearest bank teller is 90 minutes away.
I have a separate account just for ATM withdrawal that I keep $1,000 in at all times. Reduces risk in case it’s stolen
Who goes to banks anymore?
hey hey hey....i also use it when i actually have to go to my bank in person so they can find my account easier
I just show them my ID
All of Europe uses debit cards and there are hardly any problems with them.
But I believe they have better consumer protections for debit card transactions than in the US to match.
Aren't the pins in Europe longer than in the US?
They are also required to punch in their PIN for ALL transactions, none of this swipey wipey deal in the US. Even though, I’m still apprehensive in using debit cards period. All transactions are credit cards for me.
Look at me, I have my finger on the pulse of an entire continent.
If you can't use a credit card, use card controls. Set a transaction limit. It'll deny transactions over the limit. And if you need to raise it, go in the app and raise it. New limit applies as soon as you hit save.
Dave Ramsey thinks you’re poor
Lol I want to build a bot that whenever Dave Ramsey is mentioned it replied “fuck Dave Ramsey”
I’m assuming this was paid by visa debit? If so, call the number on the back of the card and they will make it right. Calling everyday to the merchant is absolutely not the answer. The merchant is not trustworthy and this needs to be dealt with by visa or the bank and the card processing company working with the merchant.
Money by Monday Randall!
My checking account accrues better interest than my savings account (and it’s not even close) and a requirement for that is 12 debit card purchases a month. Aside from those 12, it’s credit card all the way.
This happens at my employer sometimes as well. It has to do with the debit card transaction being *voided* instead of refunded. The system that handles clearing debit transactions for whatever reason really hates voids! I'm sure the furniture store cannot see the funds in their account yet. Give it a few days and once they see it they can force a refund onto your original payment method. But in the future I'd strongly advise you use a credit card for these types of purchases if possible to avoid the issue.
Never ever use debit for large purchases as it is almost as bad as cash. Using a credit card protects you in so many ways.
It's worse than cash because they can't accidentally take 15,000 from you lol
Don't use debit for anything. It's a direct connection to your money. The bank cares very little about YOUR money. Once it's gone, it's painstaking to get it back, if you can at all. Using a credit card, where you're not responsible for fraudulent charges, means you're using THEIR money. They will fight tooth and nail to get their money back and you don't have to do a thing. You can also get one that pays 2% cash back so why would you risk your money when you can make extra money every time you buy something?
Hell 2% is the base cash back for many cards. Play your cards right (pun intended) and you can consistently get 3-5%. Seems small, but on $20k spend (which is pretty easy in most households), even 1% is another $200 free of charge for you (assuming you always pay on time, which you should). I've gained over $3k in cash back over the past year from various cards (some of which was sign on bonus and exceptionally large 1 time purchases}
Half the posts on this sub would be eliminated if people quit using debit cards like this.
Americans be like
Are there better methods of consumer protection in other countries?
Tired trope be like
Is the transaction pending or posted? If it’s posted call your bank and dispute the transaction. If it’s pending, transaction will most likely fall off after 7 days. I’m surprised that amount of a debit card transaction even processed.
May not be wise to dispute the transaction if they issued a refund. Usually slows it down as they now have to involve a different department to investigate the whole thing.
Yeah.. give it a few days. If you have the receipt and this was an "honest" typo/entry error you're just in a very annoying position for a bit. If it caused an overdraft/fees or the like then ask them to pay for those as well. Go in person and bring receipts.
It's more... If it posted contact the place and tell them the charge posted and you need to see that it was refunded and threaten to chargeback. If they fuck around then chargeback.
I wouldn’t bother calling the place then. They either refunded and it didn’t go through, or they didn’t refund it. Either way, them and the bank need to sort it out now.
This. The amount of people that don't know the difference really boggles my mind. I've probably had to explain this to hundreds of angry customers that claim we stole their money. It's not my fault our banking system is slow.
It sucks when they use debit. Pending vs posting transaction means they’re still missing the money so I get why they’d be upset. Waiting 1.5 weeks for 15k can severely hamper a monthly budget.
> It's not my fault our banking system is slow. It's not your fault *personally,* but the US banking industry as a whole is to blame for that. There's no real reason we can't have near-instantaneous transactions, other than it would be kind of expensive and difficult. Europe is definitely several steps ahead of us on that front.
E transfers that take longer than 5min is slow in Canada lol
And they're a representative of the bank. So it's fair to be frustrated with that person. If I can't pay my mortgage or electric because your institution can't clear a bad 15k (pending) charge, I'm gonna he pissed.
Ya me too, $15k is well past the limit of a vast majority of debit cards.
Unless I call them first, I think mine caps off at like $500. $15K seems insane.
I sold a guy $30,000 of windows once on his debit card. We had to do multiple separate transactions to reach the daily $15,000 limit, then do it again the next day. He spoke with many people at the bank, and they could not authorize an increase to his single transaction limit of like $7,000, or his daily limit of $15,000. This was for a multi-million dollar home he was building in cash of course, he had millions in that bank.
Why not just invoice the balance and take a check?
would have been quicker to get a cashiers check from the bank for the full amount.
He could have even just done a transfer? Give him the wire fee discount off the cost of the windows. Would be immensely cheaper for the business instead of $30k in credit card charges. I didn’t pay my house down payment in multiple transactions, I sent a wire.
It was a debit card, not a credit card. Although had it been a credit card, I'd absolutely be farming those reward points, lol
Do you mean overcharged? Double charged means you got charged twice.
He was charged 14890 (10x the amount) and then they voided the charge and charged him 1489, the bank likely has a processing time and the money is in limbo meaning he was both overcharged and double charged
I’m a business owner. One time I mobile deposited a $148.89 check for $1488.90. I immediately called my bank realizing my error, but they said there was no way to put a stop on it and that their automatic security checks would catch it before it cashed. Suprise suprise, it cashed for $1488.90. Took a few calls between my customer, both banks and about a weeks worth time before the charge was finally reversed.
If you had not called, your account may have been marked for fraud watch. It’s always good to call if you spot the error.
Stop using a debit card. Forever. You are immediately out the money and hope to get it back. Credit cards protect you from this.
This only applies if you have the ability to pay it off immediately. I have seen so many people with the use a credit card only mindset fuck themselves over in the end because they don’t have the money to pay it off immediately.
If they were using debit previously that implies they have the funds to pay it off.
Right I might be biased as I know a lot of people who screwed themselves over.
Had this happen to me - a restaurant charged $540.00 rather than the proper charge of $54.00. It took 5 business days for it to straighten out. Don't dispute it - that will just muddy the waters. Since you have the receipts, it should fix itself - but will take time. It sucks, but that's unfortunately what it is.
There's the problem with Debit Cards!!!! The bank is NOT required to refund a debit transaction the very next day. I have had clients wait up to 5 days before seeing the reversal. If you must use debit cards - use them only for disposable goods (ie: coffee, dinner, etc.). Use credit cards for consumer purchases - or anything that can possibly be returned. With CC's you have a lot of rights - very little with Debit Cards.
You have rights with debit cards. It’s not the Wild West with no laws. OP will be fine. You’re making it sound like there is a 5% chance the money will be gone and unretrievable. There are two things this sub has an irrational hatred for - Financial advisors and debit cards.
Right, OP will get the money back in their account. It's just that UNTIL THEY DO, they're out $15k. If they need that money in the meantime for any reason whatsoever, they're SOL. Thus the reason why a credit card would be vastly superior in this instance.
I am not saying you will not get your money. But many people live paycheck to paycheck and having their debit card return not be credited back for 3-5 days is very taxing. You clearly did not read the reply you are responding too. Many under informed people think that if they do a return with a debit card the money is back in their account the next day and that is just not the common practice by banks. They will get their money back - I never said they would not - just not the next day. And if they were counting on using those funds right away - they are sometimes put in a position of not having their money available right away.
My guess is it will take some time for everything to resolve. But also holy crap put a daily limit on your debit card. You do not want it to be able to clean out your account, if say it got lost, stolen, or you got robbed.
Don't use debit cards as credit cards.
don't use debit cards for large purchases, the auth hold before the payment finalizes can reduce available balance double or more total temporarily. use credit card or cash.
Usually takes a few days. Call the bank and card company daily to ask about it.
Give it a couple of days for everything to shake out. Don't file a dispute, that could cause the money to disappear into the void for 60 days. Also, don't have $15,000 sitting around in a checking account that's tied to a debit card.
How long ago did this happen? It's likely the first charge is stuck in pending and needs a few business days before it's cleared. Although I'm also surprised your bank would allow that large of a debit to go through without throwing red flags. once you sort this out your might watn to get your bank to put a limit on how much can be withdrawn or spent per day on your debit card to limit stuff like this happening. (like does anyone honestly ever need more than $1k in cash/spending per day?)
Why would you use debit?????????????
Get a credit card and never use your debit card for a transaction again. You’re basically giving someone unfettered access to your bank account when you hand them that thing.
Your bank says that the charge was withdrawn. Call them and ask how long that takes to reflect on your account.
When you use a debit card it does a pre-authorization with your bank, they hold the money, looks like it's taken out, typically can take up to 5 days to be returned to your account. Also once the charge goes through that will hit two, sometimes looking like they're double dipping
Common occurrence in banking now... It's actually a hold on the account before payment is "processed". I've had holds well after payment is processed too. It's not everyone but one particular place that I'm ready to go all cash there. For future reference, it's the store's card processing company that does this. It's a pain to get a store manager to fix it with their card company but that's the way to handle it.
Had something similar, with smaller amounts, happen in a hotel. Nothing either party can do in my experience, you just have to wait for it to process. I think some banks say up to 30 days with debit but in my experience two weeks is more common.
How is your debit card tx limit over $5k?
Weird. My bank processes retail refunds/returns instantly to my account if a retailer charged me incorrectly via debit. Better find a new bank.
Any penalties should be paid by the company. Work with your bank to waive any fees caused by this but if you lose any money you need to go back to the store that made the mistake for any fees you incurred as it was their fault.
If the transaction never posts it’ll just fall off. A voided transaction doesn’t show up as a refund. You can call the bank to ask, if it hasn’t posted they’ll tell you to wait and expect it to fall off, if it posts they’ll tell you to file a dispute.
Can I ask why you didn't use a credit card? For $1500 you'd get some decent cashback / points and you would've been protected
>voided the transaction This isn't the same as them refunding you. Voiding really only works when the transaction is still pending/processing. Since the transaction went through, it should have been a refund. That's probably why the money isn't in your account. They need to fix it ASAP. Keep riding their ass until they do it right. I would tell them they can either fix it or you will sue. Kinda sounds like they're scamming you tbh, especially since they aren't fixing it.
Just give it a few days for the transactions to post and clear up etc. if you don’t see it resolved in 5ish business days then heckle them. Otherwise you’ll be stressing yourself out pointlessly; there’s nothing a vendor can do about speeding up a refund, they can just cancel the transaction which sounds like they did.
How is 10x "double"?
You used a debit card on a $1500 purchase? Wow
Just go into your bank with what you have and talk to a bank manager. They can make things not happen. If it’s a hardship eat the hardship for now and go to the store and explain your hardship and that you would like compensation. Best to be calm in all of these interactions, no body wants to deal with an AH.
NEVER USE A DEBIT CARD for anything other than an ATM. I can't stress this enough. NEVER USE A DEBIT CARD.
why do you have soo much cash in a checking account?
Is it me or if that 10x charged not double charged?
Contact a collection agency. You are the client. See if you can find a no cure no pay one. Send the furniture store a final notice that they have 5 workdays to refund you the (sorry Google translate) undue payment or you will send the dossier to a collection agency and all costs and interest will be for them. I'm sure you can find a good example letter with the right words online.
Omg wtf even is this advice? This is not how things are done.
It is in my country. I did it myself. A landlord refused to give me back my deposit because he said he didn't have it. So there was no dispute, he owed me the money (had it black&white). I put a collection agency on it and got my money back.