Q&A: What is a “PLACE MEMO CREDIT” in my savings account?

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Q&A: What is a “PLACE MEMO CREDIT” in my savings account?

Posted on 19 March 2011. Tags: account, credit, MEMO, place, savings

Question by hmmm: What is a "PLACE MEMO CREDIT" in my savings account?
i just checked my account and it had an extra 50$ in my savings..when i clicked on the thing saying processing, it said "place memo credit" ....is it safe to use thi money or are they going to take it back out?
lol....yes..which one?

Best answer:

Answer by Man U
yes

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2 Responses to “Q&A: What is a “PLACE MEMO CREDIT” in my savings account?”

Life Is Better After Retirement says:

March 19, 2011 at 10:28 am

It is an auditing mark by the bank. It will be gone soon

NO don’t use the money

Reply
Adrienne says:

April 5, 2011 at 9:28 pm

Memo credits are temporary credits given to customers in the following instances:
- Debit or ATM card Claims of $4,999.99 and less
– Excessive ATM/POS/VISA authorization holds (intra-day holds)

Excessive authorization holds are a result of merchants either:
– Authorizing more than the amount of the purchase; or
– Swiping the card multiple times for the same transaction

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