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Old Sep 11, 2013 | 10:23 am
  #1185  
Happy
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Join Date: Jul 2003
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Originally Posted by craz
Ive only used Citi and never had the problem youre talking about, maybe its depends on 1 status level with Citi
No idea about Status. But it has happened to a Citi Gold customer. I do not use Citi but this has happened to 3 persons I know a few months ago.

What Citi system did was, it authorized it one time, then it authorized one more time when the cash was paid. Since there was no "billing" to offset the 1st authorization - that one stayed on the card. This is no different than how hotel authorization work on an award stay, for example. EXCEPT, MVD is not a normal credit card, nor a normal debit card of a normal bank account, so the authorization stays and creates a deduction of the amount authorized.

May be Citi finally fixes this bugs in its software as these incidents were discovered and reported from the beginning of MVD gig.

You do realize a Cash Advance actually is run as a POS Sale treating the MVD (or any bank's check cards) as a Credit Card, right? That is how it is being processed, and why no PIN is ever needed.

In fact many banks told their customers to get around their daily withdrawal limits on the check card by doing a Cash Advance at any bank's counter. I personally heard a BofA CS manager told this to a new customer. The limit BofA imposed on its own check cards is $2500 a day thru Cash Advance, btw.

MVD does not seem to have ability to enforce the $2500 a day limit as you already reported. Though doing several $5K a pop in a month is a good way to get shut down.
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