Don't use a Debit Card at Gas Stations if you are on a tight budget!!

[Pacfanweb]

If you choose credit instead of debit, many stations will only hold $1.

 

[Thegonagle]

I've never seen a pre-auth for more than $1 in my area. Then, when the bank clears the transaction a day or two later, it's for the correct amount. At restaurants where you can write a tip in, I typically see a pre-auth for about 20-25% over the bill. Of course, when the bank clears the transaction, it's always for the correct amount (bill + tip) that I signed for.

A $50 pre-auth for pay-at-the-pump is a little out of line, IMO. I'm sure most of us typically fill our tanks for less than half that amount. Still, I don't think a bank can charge an overdraft fee based on an electronic authorization that?s not an actual overdraft. If they do, that's shady.

 

[Kyteland]

They are doing this to protect themselves. They precharge your card to make sure that you have enough funds. When you put your debit card in they have no idea if you have the funds to cover your transaction, and they have no idea how much gas you plan to put in to your car. They figure $35 is more than most people will put in, so they take $35 out of your account. If the transaction clears then they know you have enough money to buy gas, and they credit your account for the $35. Then you pump your gas and they charge you for that.

Their only other option is to request you entire balance from the bank every time you put your card in. I think this is not legal, and at any rate I'd rather my gas station attendant didn't know my card number and my current balance. That has trouble written all over it.

Really, if you don't like how this works then don't use your debit card at the pump. Use a credit card.

 

[DorkBoy]

I have the same thing happen here in Clt.,NC with restaurants.
I pay the bill + tip with my card and get home they always overcharge me until the real charge goes thru, sad.

 

[damiano]

Originally posted by: CoolTech
even if your transaction is small, they place these holds on your account, 7-11 placed a $35hold for a $5 gas charge and Mobil did a $50 charge, wtf is this crap?!!? And with debit cards, they are screwing up your real cash flow, so much for debit cards being the end all be all.

you are THAT broke that you actually worry for 35 bucks being witheld for 5 business days :|

 

[FoBoT]

branded debit cards (Visa/MC logoed) are evil
they can take as much money out of your checking account as they want

use REAL credit cards (or cash money)

 

[Thegonagle]

Originally posted by: damiano

Originally posted by: CoolTech
even if your transaction is small, they place these holds on your account, 7-11 placed a $35hold for a $5 gas charge and Mobil did a $50 charge, wtf is this crap?!!? And with debit cards, they are screwing up your real cash flow, so much for debit cards being the end all be all.

you are THAT broke that you actually worry for 35 bucks being witheld for 5 business days :|

You were born a millionaire?

 

[J Heartless Slick]

Originally posted by: CoolTech
even if your transaction is small, they place these holds on your account, 7-11 placed a $35hold for a $5 gas charge and Mobil did a $50 charge, wtf is this crap?!!? And with debit cards, they are screwing up your real cash flow, so much for debit cards being the end all be all.

I have not seen this when I pay for gas using a debit card.

 

[isekii]

What are you talking about ?
I use my debit card all the time at gas stations.. at most they put 1.00 hold then the rest comes through after like 2-3 days.

 

[yukichigai]

I use my card as a credit card all the time because the charges I incurr for using it as a debit card are really high. (Unless I go to a BofA terminal) On the plus side the account is free provided I only put money in with account transfers and direct deposit. No decision there really.

 

[newbiepcuser]

Originally posted by: jumpr
I've never had this happen. I never notice a charge higher than the gas amount on my debit card.

 

[aeroguy]

Originally posted by: TrueBlueLS

Originally posted by: aeroguy

Originally posted by: RossMAN
This happens with gas stations, some restaurants, hotels, car rental companies, etc.

In my own paranoid banker opinion debit cards should only be used for the 3 following reasons:
1) As a check guarantee card.
2) As an ATM card.
3) As a POS (Point Of Sale) card where you enter in your 4 digit PIN, at Walmart, Target, the USPS, grocery store, etc. you can even get cash back!

Other than that, I NEVER use my debit card "as a credit card" although it has the VISA/MasterCard logo.

My bank pays me to use it "as a credit card" since the bank pays fees on debit transactions and the credit card company pays the fees on other transactions. I made $75 last year. It's still debited from your checking account, but you just tell them it's a credit card and sign the slip instead of inputing your pin.

Which bank do you go through that pays you to use it as a credit card? That's new news to me. All I've known was banks wanting to charge POS fees for using it as a debit card.

U.S. Bank. Just ask for the "checking that pays" option.

Also, U.S. Bank doesn't charge you to use it as a debit card either. They eat the costs. No one should charge you for that... switch banks buddy.

 

[damiano]

Originally posted by: Thegonagle

Originally posted by: damiano

Originally posted by: CoolTech
even if your transaction is small, they place these holds on your account, 7-11 placed a $35hold for a $5 gas charge and Mobil did a $50 charge, wtf is this crap?!!? And with debit cards, they are screwing up your real cash flow, so much for debit cards being the end all be all.

you are THAT broke that you actually worry for 35 bucks being witheld for 5 business days :|

You were born a millionaire?

no
it's not about being a millionaire
but just a bit of common sense to manage your cash and have more than 50 bucks on your bankaccount

 

[sygyzy]

It's amazing what people don't know about...

 

[CoolTech]

Originally posted by: damiano

Originally posted by: Thegonagle

Originally posted by: damiano

Originally posted by: CoolTech
even if your transaction is small, they place these holds on your account, 7-11 placed a $35hold for a $5 gas charge and Mobil did a $50 charge, wtf is this crap?!!? And with debit cards, they are screwing up your real cash flow, so much for debit cards being the end all be all.

you are THAT broke that you actually worry for 35 bucks being witheld for 5 business days :|

You were born a millionaire?

no
it's not about being a millionaire
but just a bit of common sense to manage your cash and have more than 50 bucks on your bankaccount

easier said than done in this economy. get a clue.

 

[jlee]

Originally posted by: CoolTech

Originally posted by: damiano

Originally posted by: Thegonagle

Originally posted by: damiano

Originally posted by: CoolTech
even if your transaction is small, they place these holds on your account, 7-11 placed a $35hold for a $5 gas charge and Mobil did a $50 charge, wtf is this crap?!!? And with debit cards, they are screwing up your real cash flow, so much for debit cards being the end all be all.

you are THAT broke that you actually worry for 35 bucks being witheld for 5 business days :|

You were born a millionaire?

no
it's not about being a millionaire
but just a bit of common sense to manage your cash and have more than 50 bucks on your bankaccount

easier said than done in this economy. get a clue.

I keep less than $50 in my paypal (debit card -- 1.5% back is nice) account, and usually nothing in my checking account. If I expect a $30 purchase, I put $30 in the account. I have since learned that Fedex holds $10 in addition to the charge, which sucks...since I don't usually have much more than what I'm immediately using.