when is my account debited if I use a credit card?
465033
A debit is an increase in an asset.  \n\nFor the bank that holds your credit card, the right to receive money from you in the future is something that is their asset.  When you charge $100 on your card, they 'debit' a 'receivable' of $100, and then pay the merchant whatever they pay them ('crediting' cash)\n\nYour account is debited (charged) when the business submits the charge to the bank.\n\nWhen you go to a restaurant, and you charge $30 for a meal, the restaurant runs the card for $30 and gets an 'approval number'. This means the bank guarantees that the card is valid, and that the restaurant will get $30. It also creates a tracking category on your credit card entitled 'authorizations'. While your card has not been charged, your available credit limit has been reduced because of the authorization.\n\nAt the end of the day, the business 'batches' the authorizations and actually charges the cards. They do this because it is simpler to track revenue for bookkeeping purposes as one daily batch of $2100 than 70 charges of $30.22 or whatever the bills are. Visa/MC then makes a deposit into the merchant account for $2100, instead of 70 different daily bank deposits. At the time the batch is processed, the cards are actually charged, and the authorizations are removed.
97244
Just call to your credit card customer service and\nask them.\nSome banks call  you and ask you before charge any\namount in the internet.\n\nGood Luck
114378
Your confusion is understandable for someone who is not an accountant.  Those terms 'debit' and 'credit' (from your first 2 examples, at least) are relative to the BANK'S POINT OF VIEW not yours.  I'll explain.  The bank has a balance sheets with assets on the left and liabilities (things that it owes) on the right.  Assets must always equal Liabilities + Owner Equity (equity won't be explained here).  On the asset side, when a bank gains an asset, it receives a credit and when it loses an asset it receives a debit.  The reverse is true for liabilities.  When a bank gains a liability, it receives a debit, but it is credited when loses a liability.  When you take money out of your checking account, the bank loses assets and therefore records a DEBIT (remember, a loss of assets is a 'debit' on the asset side).  When you add money to your checking account, the bank gains assets, which is a CREDIT on the asset side. When you use a credit card, the store DEBITS your account because you have gained a liability, a promise to pay (remember, a liability goes UP when it is debited).  When you get a refund, your account is CREDITED because you have lost a liability (you are no longer obligated to pay that debt).  remember, a CREDIT on the liability side means that liabilities go DOWN!  So 'debit' and 'credit' don't mean 'down and up', it just refers to what action(s) is being taken and on what side of the balance sheet the action is taking place.
610414
If you have cancelled the direct debit, then the company shouldnt be allowed to take anything from your account. But make sure you get proof that the direct debit has been cancelled.
17726
A debit card can be used like a credit card if you have one.  Have you tried shopping on EBAY?  Most people on there let you use money orders or personal checks.  And believe me, you can find anything for sale!  New as well as used.
859551
If it's a dispute, Yes.\n\nIf you've been billed for something you did not buy, you can dispute it.\n\nThen, there's a small procedure to ensure you're right, but then,  you don't need to pay.\n\nHowever, if you don't have any grounds, it's a cognisable offense that you don't pay.\n\nIf you're having financial problems, the Credit Card Companies and your Bankers will be glad to help and I suggest that you take it.\n\nHave a nice day.
626062
It makes NO difference on your part. Check card works either as credit card or debit card. In either case, the amount is deducted from your account immediately. The reason the bank gives you the choice is because some stores (like some small stores, restaurants or stores overseas) don't have machines to process debit cards. When you use it as credit card, don't expect to get the same kind of service as you get from your regular credit card company (which is not tied into your bank account). You will not be able to dispute your charge or even get a copy of receipt from the bank since it is treated just like debit card purchase at the bank. Some banks give you incentives to use your check card as credit card because they can charge the store a few percent more for credit card use than debit card use. For the same reason, some stores prefer you using debit card because they pay less to the bank for each processing. Again, it makes no difference to you unless you want to get cash back, in which case, you want to use it as debit card. And of course, if your bank either penalizes or rewards you for using it one way, then, that is a consideration.\n\nP.S. If you ever buy something on line from a store you have never heard of, or buying something from some small somewhat suspicious looking business owners, don't use your check card (either debit or credit) but use your real credit card. There is no recourse for the payment made with your check card and they may get access to your checking account.
643980
I'm not sure I understand the question, but if you've been charged on your credit card for anything you did not mean to purchase, I'd suggest you complain to the company that made the charges and ask for a refund. If they don't give you one, follow up with the bank with which you have the card and see if you can get the charge reversed.
847116
Qoute:\n\nAccounting entries are made on the left side and right hand sides of an account. When an amount is entered on the left side, the account is said to be debited, and when an amount is entered on the right side the account is said to be credited. The difference between the total debits and total credits is the balance of the account. The balance may be either a debit balance if the debit side exceeds the credit side; or a credit balance if the credit side exceeds the debit side. When the total debits equal the total credits, the account is said to have nil or zero balance. The words "debit" and "credit" should not be confused with "increase" or "decrease". Certain accounts may increase when debited and other accounts may increase when credited depending on the type of account involved.\n\n\nLeft hand side of the pageThis is the debit side\n\nThe right hand side of the page       This is the credit side\n\n\nThe two rules of double-entry book keeping are that every transaction affects at least two accounts and that the total for the debit and credit sides should be equal. In other words, for every transaction, one or more accounts must be debited and one or more accounts must be credited.\n\nThe learners are required to master the following general rules:\n\nAccount      An Increase           A decrease\n\nAsset        Should be debited Should be credited\nLiability  Should be credited  Should be debited\nCapital         Should be credited Should be debited\n\nAs for income account always the recording should be made to the credit side while all expenses account will always be debited.\n\nend qoute
439877
Depends on the company offering the card.  Check your cc info or call company rep and ask them.\n\nRival
144278
Call your credit card company and dispute the charges. They will send information to the company that charged your credit card. The company only has so many days to respond to the credit card company, and unless you signed or otherwise gave agreement to company to use your credit card the bank will reverse the charges off your card.
40233
There are strict rules and regulations on when ACH items will post to your account.  \n\nAre you talking about something you initiated like a scheduled bill pay?  If so, it will depend on when you told your financial institution payment must be made, the settlement date. \n\nMoney from your account cannot be deducted before that date even if the other bank sends the ACH deduction earlier than the settlement date.\n\nHowever, if problems are encountered, the deduction may occur after the settlement date.\n\n\nIf you want more information, try www.nacha.org the site of the National Automated Clearinghouse Association.
774146
One is a debit to the account and one is a credit (deposit) to the account.
1166462
You should let your bank know immediately. They can tell you if it's your debit card or check or ATM. Whatever it is, they need to cancel that and give you a new one. They should also give you a credit for the amount if you can convince them it was not by you. The bank and you can determine if you need a new account or not.
963261
If you paid by credit card, contact the credit card complany and cancel payment on the item.  That's the reason we use credit cards!  Once they realize they aren't getting their $$ I bet they start listening to you.\n\nSorry about your bad experience.
720108
With a Credit Card, you spend now, and pay through the nose later. With a Debit Card, you pay now, and spend your money whenever needed, later !
1166682
It depends on the bank I imagine.  My bank only has a checking account debit card.  I'm curious how it is that you decide you'll give 5 points.  If you award an answerer with the best answer they receive 10 points.