Have you ever been double charged nearly $15000 by a local business? #bankerror #overcharged #customerexperience
Are you wondering what steps to take next? #financialadvice #consumerprotection
Explore how you can resolve this issue and protect your finances. #disputingcharges #customerrights
Discover practical tips on dealing with such situations and protecting yourself from financial mishaps. #financialawareness #consumerprotection #moneymanagement
Why would you use debit?????????????
Is it me or if that 10x charged not double charged?
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.
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.
NEVER USE A DEBIT CARD for anything other than an ATM.
I can’t stress this enough.
NEVER USE A DEBIT CARD.
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.
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.
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
Don’t use debit cards as credit cards.
How did you not have any alerts in place for a transaction that high? You had $15k sitting in a checking account?
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.
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?)
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 is your debit card tx limit over $5k?
Your bank says that the charge was withdrawn. Call them and ask how long that takes to reflect on your account.
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.
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.
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.
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.
Weird. My bank processes retail refunds/returns instantly to my account if a retailer charged me incorrectly via debit. Better find a new bank.
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.
Stop using a debit card. Forever. You are immediately out the money and hope to get it back. Credit cards protect you from this.
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 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.
Do you mean overcharged? Double charged means you got charged twice.
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.
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.
Usually takes a few days. Call the bank and card company daily to ask about it.
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).