What is a forced settlment or forced transaction, and can they be reversed?
It's a transaction that requires special procedures to be completed, because standard procedures won't permit it. For example, a supervisor override that's needed before a cashier at a grocery checkout can void a ringing error is a forced transaction. Another example is a credit or debit card transaction that a merchant forces to post in spite of not being able to obtain authorization for the transaction. Credit and debit card rules generally allow forced transactions to be pushed back to the merchant.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.