On May 7, 2019 I ordered a Power Airfryer Oven online from Tristar Products Inc using my business ATM card. Truistar charged my ATM card account for two separate units, tough I only ordered one. When I called and asked about why they had charged me twice, a woman replied one was to test the account to see if it was a valid account ( single $1 charge would normally be done by a regular business). The woman also replied that the money would be refunded in a few days after the product was shipped.
I spoke to the bank where the account is and they informed me that there was nothing they could do unless the company did not refund the excess charge. Then I clould file a dispute.
Charges made on a credit or debit card account are taken from the user's account immediately (they usually show as pending) and are typiclly posted to the party receiving the funds in only a few minutes. When a company like Tristar charges twice like this, it provides them with a free loan for a few days. Because they are dealing with thousands of buyers weekly, they are getting several hundred thousands of dollars each week as a free loan.
It is someting the FTC should look into and do something about. It hurts other legitimate businesses who act honestly and don't bill twice to get a loan.
It should also be a bank policy to prevent double charges without getting the buyer to agree to the second charge from the same business for the same amount on the same day.