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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Today's Featured Article - Seeing an Old Friend - by Joe Evans. Dad had a concrete contracting business starting in 1960. One of his first pieces of equipment was a Ferguson TO-35 with a Davis loader. Dad replaced the TO-35 with a MF 202 Workbull, essentially an industrialized Ferguson 35 I am told. Dad bought the 202 new in 1962, and I recall quite clearly going to the dealer with him to sign for it.
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