What is all this talk about increased risk of bad payments on the merchant model? If you cancel a credit card while there is funds pending(a hold) the debit amount does not go away? The Bank holds that debit account open for card user to still pay the debit. If card user can not pay debit the bank has to honour that pending payment themselves. Hence why they do credit checks and offer different debit limits to reduce their own risk. Simple stuff.
Which bank is cancelling credit card accounts and debit funds pending...i want an account with them.
People have taken a massive bum steer due to lack of understanding of the SPT debit facility.
SPT Price at posting:
$1.44 Sentiment: Buy Disclosure: Held
