Legal Question in Business Law in Iowa
Holding fees
Is a retailer required to post a notice if they have the practice of holding funds for debit card purchases?
Asked on 9/28/07, 11:08 am
1 Answer from Attorneys
Robert Luedeman
solo practitioner
Re: Holding fees
I assume that what you're concerned with is the persistent problem of people overdrawing their checking accounts through the improvident use of debit cards and the likelihood of you as a merchant getting stung when someone does this. I'm not real clear on how debit cards operate with a merchant, so if you'd care to provide a bit more detail or email me offline we can visit about this further.
Answered on 9/28/07, 11:43 am
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