What is a Memo Credit or Memo Debit?
Memo Credit or Memo Debit refers to pending transactions that have not yet posted to your account. Transactions made with your ATM or Debit Card using a PIN typically are processed and posted to your account on the same day that the transaction is made or on the next business day. Transactions made with your Debit Card, without your PIN, may take up to five business days to post to your account. In some cases, the amount of the pending transaction may not match the actual amount of the transaction. This is common. Some merchants, including restaurants and hotels, will place an initial hold (known as an “authorization” hold) on the account for a dollar amount that could be higher or lower than the transaction. This initial hold is placed to ensure that you have enough funds in your account. This type of hold is credited back to your account by the next business day, and once the transaction has been completely processed, which may take several days, the actual amount of the transaction
