What is a memo debit on my bank statement?

Answer Banks use memo debits, also known as a debit memos, to keep track of transactions that have not been completely processed. These memo debits withdraw money from the customer's bank account, holding... Read More »

Top Q&A For: What is a memo debit on my bank statement

What Is a debit memo?

According to, a debit memo serves one of two purposes. In business, it notifies a buyer that his account balance has increased based on errors or adjustments. In banking, a debit me... Read More »

What Is a Force Pay Debit Memo?

A force pay debit memo is a classification the bank assigns to a transaction to ensure it will be processed first, regardless of funds available. For example, a transaction marked force pay debit w... Read More »

What Does Debit Memo Mean?

Debit memos mean different things, depending on context. A memo is usually a reminder, or an adjustment to a running balance. Debit memos can occur in business or in personal financial transactions.

How can a moeny come out of a bank on a debit card when you have no debit card?

If it isn't a "pending" transaction and something that has actually posted to your account, you'll have to file a Regulation E report with your bank stating you've have had a fraudulent debit trans... Read More »