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What is a Forced Settlement or Transaction?

What is a forced settlment or forced transaction, and can they be reversed?

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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.

Published on BankingQuestions.com 4/02/09