It's been 10 calendar days since I made the charge to my Schwab Visa debit card. A couple charges have yet to show up on my history online. Does anyone know the grace period that the merchant can post the charges to your account?
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posted: Nov. 6, 2009 @ 12:54a
wesleman
Senior Member
posted: Nov. 6, 2009 @ 1:03a
I won't be surprised if the charges show up one statement period later. Any time longer than two statement periods, I bet the merchant inadvertently forgets to charge you...
Ivanist said: I recently visited Japan and used my card there.
It's been 10 calendar days since I made the charge to my Schwab Visa debit card. A couple charges have yet to show up on my history online. Does anyone know the grace period that the merchant can post the charges to your account?
doesn't matter. the most weirdest transaction I had was JCPenny reversing the transaction and giving me the credit my credit card. i didn't call them up and ask them why they did this.
dimatkach
Senior Member
posted: Nov. 6, 2009 @ 6:42a
dawhim said: doesn't matter. the most weirdest transaction I had was JCPenny reversing the transaction and giving me the credit my credit card. i didn't call them up and ask them why they did this. I this ethical? Or gray area?
Merchants can charge your card a month, even a year later.
I once got (legitimate) charges 9 months later after a trip to Canada from a restaurant there
highmktgoods
Senior Member
posted: Nov. 6, 2009 @ 11:35a
SUCKISSTAPLES said: Merchants can charge your card a month, even a year later.
I once got (legitimate) charges 9 months later after a trip to Canada from a restaurant there
This sounds true. Remember that in the old days they used to put your card in a slider and give you a carbon copy. They would then mail off the slips to the processing companies and your statement would then reflect the purchase... a month later.
busterbaxter
Senior Member - 1K
posted: Nov. 6, 2009 @ 11:42a
It's very common in Japan. A lot of my transactions in Japan posted 1-2 months later. Don't worry.
i also once got a charge 6-9 months after i ate at a restaurant in Belgium. at the time, i thought the merchant waited for a somewhat more favorable exchange rate since other charges were more prompt, but maybe not...
wesleman
Senior Member
posted: Nov. 6, 2009 @ 12:34p
Do you have a source of authority on that claim?
scrouds said: They have a max of 30 days, usually. Each country has different rules, 30 days is the US visa rules. 9 months is way too long.
Thanks! It's interesting it goes on saying in Section 6.4.C.6.c that: Violation of these time limits does not automatically entitle the Issuer to a Chargeback right.
It makes me wonder how strictly they are actually enforced...
scrouds said: Visa USA Operating procedues, Volume 1, Section 6.4.C.6.b (Page 364) allow acquirers up to 30 days to settle a transation.
Visa International regulations, Section 4.9.B.2.c require endorsement of a transaction receipt up to 30 calendar days from the transaction date.
Nothing in the credit card world is strictly enforced. Issuers have to be willing to hand out compliance cases. What usually happens is they issue a pre-compliance case asking for the money back instead.
For example we had an incoming chargeback from 2005. They can only issue chargebacks up to 12 months away, so our bank sent it back to the issuer automatically. There really isn't anything from stopping anyone from doing anything. They could push that all the way through to arbitration if they wanted. Give me your card number, and without any authorization I could settle a million bucks on to it, doesn't matter if its a $500 limit orchard secured card. It'll go through, but it won't take long for the chargeback to come back.
The only thing that are actively persued are data breaches.
Of course I'm looking at this wrong, we're loking at acquirer requirements, not the issuer requirements to post charges. And honestly I don't have the enegry left to sort through that section of the regs. Maybe monday.
What if one closes the account or the card? They apparently did not use the carbon copy method, so I am not sure why it is taking so long to get the transactions posted...
Basic fact is that if you engage in a transaction, and receive goods/service, you owe the money. The debt isn't erased simply because they forgot to bill you.
AcidSpectrum said: Basic fact is that if you engage in a transaction, and receive goods/service, you owe the money. The debt isn't erased simply because they forgot to bill you.
I take it you are a merchant who has familiarized yourself with these rules due to similar issues? Are there similar links for Mastercard and AMEX you can share?
NEDeals
Serene Member
posted: Nov. 7, 2009 @ 8:46p
SIS, For MasterCard rules, see http://www.mastercard.com/us/merchant/pdf/BM-Entire_Manual_public.pdf
Generally merchants have 3 business days to submit charges to their acquirer, but there are a lot of exceptions. Lots of good stuff in there to know about M/C policies.
For the chargeback rules, see http://www.mastercard.com/us/merchant/pdf/TB_CB_Manual.pdf
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