What is the definition of a pre-authorized debit reversal?

Answer by  JasonHadley (245)

This typically allows those who may debit or credit your bank account electronically the pre-approved authority to debit your account to 'undo' a transaction where they either gave you too much money or did not charge you enough.

Answer by  mightyspidey (1080)

A business authorized a certain amount on your card, meaning they verified that you had those funds on your card. They then reversed it, meaning they took the authorization off.

Answer by  flamiss22 (5081)

This is when an authoritization was previously approved for payment. However when the actual charge hit on the account there was not enough money to cover the charges. So the bank will not pay it and the merchant will not get paid.