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Daniel Parker

2 min read

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27-02-2025

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Understanding Chase Bank's "Hold, Rel, Mem" Transaction Codes

Have you ever looked at your Chase bank statement and seen transaction codes like "HOLD," "REL," and "MEM"? These cryptic abbreviations can leave you scratching your head. This article will decode these Chase transaction codes, explaining what they mean and how they impact your account. We'll also discuss what to do if you have questions or concerns about these transactions.

Understanding the Codes:

• HOLD: This code typically signifies a pending transaction. The funds haven't yet been officially debited from your account. This often occurs with recurring payments (like subscriptions) or transactions where the merchant needs to verify the purchase before finalizing it. A "HOLD" doesn't mean the money is unavailable, but it's reserved until the transaction is processed.

• REL: This stands for "release." It indicates that a previously held transaction has been finalized and the funds have been debited from your account. You'll see this after a "HOLD" code, signifying the completion of the transaction. If you see "REL" without a preceding "HOLD," it may simply mean a transaction was processed quickly.

• MEM: This code represents a "memo" or internal note added by Chase. It's typically used for informational purposes and doesn't reflect a debit or credit to your account. These memos might provide details about account activity, such as a service charge adjustment or an explanation for a previous transaction.

Examples of Transactions and Their Codes:

Let's illustrate how these codes might appear on your statement:

• Scenario 1: Online Purchase: You make an online purchase. Your statement initially shows a "HOLD" for the amount. A few days later, the transaction is finalized, and you see a corresponding "REL" entry for the same amount.

• Scenario 2: Recurring Subscription: You have a monthly subscription. A "HOLD" appears at the beginning of the billing cycle. Then, when the payment processes, you'll see a corresponding "REL" entry.

• Scenario 3: Internal Adjustment: Chase makes an adjustment to your account (e.g., reversing a fee). A "MEM" entry will explain the adjustment without reflecting a debit or credit.

What to Do if You Have Questions:

If you encounter these transaction codes and are unsure about their meaning, there are several steps you can take:

1. Check your online banking: Your online banking account provides detailed transaction information, often including descriptions beyond the codes. This will usually clarify the nature of the transaction.

2. Contact Chase Customer Service: If your online banking doesn't provide enough context, reach out to Chase customer support. They can explain specific transactions and resolve any discrepancies.

3. Review your receipts: If the transaction is related to a purchase, reviewing the merchant's receipt will provide additional information. This can help match the transaction with the "HOLD" and "REL" codes on your statement.

Conclusion:

Understanding the "HOLD," "REL," and "MEM" codes on your Chase bank statement simplifies the process of tracking your finances. By recognizing these codes and knowing where to find more information, you can maintain a clear picture of your account activity. Don't hesitate to contact Chase if you have any uncertainties about a particular transaction. Remember, proactive monitoring of your account is key to responsible financial management.