Earlier quoted context omitted.
Others have said it but I will pile on as this is dangerous misinformation. It’s sort of true in a legal sense, but not a practical one. If you find yourself in a dispute (even outright fraud sometimes) you might end up stuck for weeks or months with your disputed funds frozen. If you are a highly paid software engineer with considerable assets and transaction volume at your bank it’s likely you will never experience…
> Others have said it but I will pile on as this is dangerous misinformation. Was that an introduction to the rest of your comment? Explain to me please how a dispute with a vendor on a purchase makes a difference for your ability to pay rent? If the purchase was not fraud, then you have used that money anyway with your purchase. Unless you're planning to pay rent by bartering your Amazon order. If you're instead tal…
I wrote about outright fraud taking weeks (in one case, months) to resolve. From my own personal direct experience.
> I had a friend who doesn’t even have a passport dispute an ATM transaction in a country he never visited.
Does this sound like a dispute with a vendor or outright fraud?
A dispute with a vendor can also mean an overcharge or something like a renewal fee for a yearly membership that is under dispute. It's not just marginal items you bought and the vendor refuses a return or it never shows up or whatever.
Like I said - if you are a highly paid professional you likely will never have a problem with this. It's an invisible part of the economy to you. If you are working class you are much more likely to have a wildly different experience. Banks have what is effectively an internal credit score system for each customer. For those with serious assets with the bank you get a lot more leeway and benefit of the doubt until you start abusing it.