Posted by MF1155 on November 11, 2010 at 06:40:42 from (205.188.116.74):
In Reply to: OT - Question with rant posted by Cockshutt Mike on November 10, 2010 at 14:58:36:
Wrong!!!!I have a credit card machine...and I sell parts. If You buy a part from me and use a credit card,I get a "settlement report" at the end of the day showing that you purchased the item. The money wont post to my account for 48+ hrs, It shows it left your account that day. Then your bank or credit card company has to make that deposit at the end of the day with the Federal Reserve. My bank has to accept the deposit from the Federal Reserve and then post it to my account.
Refunds are the same way...It left my account and it doesnt show on your account, its between the banks depositing and setting at Fereral Reserve.
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