down a hole?
August 4, 2005 12:24 PM Subscribe
What happens to the money when a business places a hold on your credit/debit card?
posted by edgeways to work & money (14 answers total)
Currently I am doing battle with a hotel to release a hold they have on some debit card funds. The bill has already been settled but near a month later there is still a $300 hold on my acccount.
My question is, especailly with debit cards, where does the money go when it is being held? I would hate to think that it is gaiing intrest in some account, (and don't think it really is). But this holding funds past the point of the bill being settled strikes me as suspicious in some way, even it if is just a day or two, much less amonth.
To try and head off speculation (I can speculate pretty good), please only respond if you know whats going on.