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A comment on Debit cards are hidden financial infrastructure. Parent comment

Re:Debit cards are hidden financial infrastructure by ryandrake on Friday November 12, 2021 @10:20PM (#29207096)
Yes, that's exactly what they would do. Even better (for the bank's profits) is if you had lots of other smaller transactions that day too. They would re-order everything from largest-to-smallest, so it's:

1. have $10 in your checking

2. pay $9 for steak

3. buy sausage for $5

4. charge overdraft

5. buy milk for $3

6. charge another overdraft

7. pay $2 for parking

8. charge another overdraft

9. buy a pack of gum for $1

10. charge another overdraft

11. count $500 deposit

It was truly despicable behavior that benefited nobody but the banks.

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Re:Debit cards are hidden financial infrastructure by beebeepka on Saturday November 13, 2021 @09:20AM (#29209894)
Dear gawd. I've never heard of this shit before and hope it's not a thing anywhere else. Amazing it's all legal. That's the very definition of fraud
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Re:Debit cards are hidden financial infrastructure by rootusrootus on Saturday November 13, 2021 @10:23AM (#29210361)
I may be wrong, but I think this is now illegal in the US. I haven't heard of it in a while, at least. But it's also been some time since I left little enough in my account that it could happen to me, or banked at a shitty bank that would even do it to begin with.
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Re:Debit cards are hidden financial infrastructure by plorkyeran on Saturday November 13, 2021 @11:31AM (#29210961)
Banks "voluntarily" stopped doing it once regulators got serious about forbidding it and then the regulations never actually happened, so while it's not currently a thing anyone does it probably will be again some time in the future.
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Re:Debit cards are hidden financial infrastructure by ikr678 on Saturday November 13, 2021 @08:02PM (#29214624)
What is the time period for reconcilling transactions? Is it reordering them per a 24 hour period? Or is every bank settling them differently.
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Re:Debit cards are hidden financial infrastructure by dntrkv on Saturday November 13, 2021 @11:01AM (#29210668)
I know Chase and USBank always credited deposits first (going back to about 2006).
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