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A debit card charge must be posted no more than 30 days from the date of purchase. The merchant can still post a charge after the 30 days however they open themselves up to getting a chargeback from the cardholder/bank. A chargeback is a right that every cardholder/bank have. It is a way for the CH/Bank to get back their money when a merchant incorrectly processes a transaction.
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What companies offer a debit card payment processing service?
There are a lot of companies which are offering a debit card payment processing service. However, one might want to check out the website wirecard to have some information beforehand.
What does a debit card do?
A debit card - is the equivalent of 'electronic cash'. Whereas with a credit card - you spend up to your limit,then pay it back over a period of time (while accruing interest) - a debit card is only usable up to the balance of the bank account linked to it
What happens if a credit card has been processed under the debit option by mistake?
Typically the point of sale terminal will ask for the pin number. If the user has the pin number, the charge will be handled as a debit charge instead of a credit charge. (It's a little cheaper for the merchant; it will make no difference to the card holder.) If the card does not allow debit transactions or the user does not have the pin, the transaction will be declined.
Is it possible to get a discount for credit card processing?
Yes it possible to get a discount for credit card processing at many places. Many companies are giving discount for credit card processing online, but many companies charge more for credit card processing.
Can a debit card be used at any ATM machine?
As long as you have money in your checking account, you are able to use a debit card in an ATM machine. Keep in mind though that you are charge for the transaction.
