What's a memo debit on the on line banking?
Answers:
Usually, a memo debit is a debit card transaction that has not yet officially posted to your account. Many banks do their reconciliation at night and any transactions you do during the day will reflect as memo debits, lowering your available balance but will not actually lower your official or ledger balance until they post...typically that night so that you see it the next morning.
Hope that helps.
A memo debit is something that you have done during the bank's current business day. A memo debit is placed on your account so that you can't use that money on something else (since you've technically already spent it.) When the transaction is processed the memo debit will drop off your online banking and will show up on your current statement.
Another thing to note is that the memo debit might not always be the exact amount of the purchase. Most gas stations will memo debit your account for $1 before you start pumping to make sure that it is a good card. Restaurants will often times memo debit your account for the amount not including the tip.
Hope that helps
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