Hi y’all, I noticed a debit card memo correction on my bank statement recently and I’m not sure what it means. Can someone explain what a debit card memo correction typically involves? I’m curious about its implications and whether I need to take any action. Any insights will be greatly appreciated…
If a seller makes a mistake and charges a buyer too little for goods or services, they can fix this with a debit memo. This memo increases the amount the buyer owes, correcting the error without needing a new invoice.
A debit card memo correction on your bank statement is an adjustment made by your bank to fix a previous error, like an incorrect charge or a resolved dispute. It’s usually nothing to worry about, but it’s good practice to review your statement to understand the correction. Compare it with your receipts or records to ensure everything matches up. If anything seems off or confusing, a quick call to your bank’s customer service can clear things up. Keep an eye on your account for a while to make sure no further issues arise.