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Login to post Forums » Grassroots Motorsports » Gas Station BullE36 M3: Read This, It's Not What You Might Think!

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Aug. 10, 2011 11:27 a.m. Woody SuperDork

My daughter just called me and she was very upset. She's a kid and doesn't make much money, but she's very good at keeping track of it.

I buy my gas from a local business man who looks just a little bit like me. She stopped at another station, who's owners may or may not have links to terrorists, because gas is three cents cheaper per gallon, and put $20 worth of gas in her car on her card. She knew that she had another $93 in her account.

She then went to a bagel shop, ordered lunch and tried to use her debit card. It was declined.

She immediately went to the bank and was told that the gas station had put a $100 hold on her account for a $20 purchase.

Legal or not, I am appalled at this practice. Watch your wallets and please patronize local merchants.
Aug. 10, 2011 11:36 a.m. 81cpcamaro New Reader

A lot of gas stations do this, since they don't know how much gas you are buying. The local Kroger has signs saying not to use gift cards at the pump due to the preauthorization will prevent you from accessing the remaining money. $100 does seem a bit high, usually it is $75.
Aug. 10, 2011 11:38 a.m. mad_machine SuperDork

sadly, this is not uncommon. I used to know a guy who would get gas on his card knowing it was low on cash because he knew it would take a day or two for the station to process it.

because of people like him, they put massive holds on cards now
Aug. 10, 2011 11:44 a.m. Woody SuperDork

I can understand that, but it should be limited to the value of the product sold.
Aug. 10, 2011 11:44 a.m. 914Driver SuperDork

How long is the hold and/or what if the guy forgets to pull it off?

I've never heard of it, but then again I just put $100 in a truck only because the pump automatically stops at $100. Who knew?

Dan
Aug. 10, 2011 11:47 a.m. RossD SuperDork

I've had a hold on my account from a Shell station. I believe it was significantly more, IIRC.
Aug. 10, 2011 11:54 a.m. EvanB SuperDork

If you run a debit card as credit it shouldn't put a hold on it.

At least thats what I do and have never had a problem with it.
Aug. 10, 2011 11:54 a.m. 4cylndrfury SuperDork

wowzers...its only $1 here...I hope it doesnt jump up that way...I often float my gas overnight, buying $60 on thursday, but only having maybe $20 in the account, knowing my deposit will go in on Friday morning. I only put x% of my paycheck into my checking, rest to savings...if the c note practice goes into effect around here, Im gonna have to switch a few things...
Aug. 10, 2011 11:59 a.m. Woody SuperDork

EvanB wrote:

If you run a debit card as credit it shouldn't put a hold on it.

At least thats what I do and have never had a problem with it.

She did.
Aug. 10, 2011 12:03 p.m. Shaun Reader

We simply need to deregulate banking and let the market work it's magic.
Aug. 10, 2011 12:08 p.m. dculberson HalfDork

Woody wrote:

I can understand that, but it should be limited to the value of the product sold.

The problem is they need to put the hold in place before they know how much product you're buying. That is, when using pay at the pump. You swipe your card, it authorizes it and puts a hold of $x on the account. You pump the $20 worth of gas and finalize the sale - then they actually process the $20 as a sale. The pump will shut off if it reaches $x since that's all they know the account is good for. The hold will expire, typically within 24 hours.

All pay at the pump transactions are handled this way nowadays. Paying inside, for a specific amount of gas, will eliminate the hold. How the bank handles the hold depends on the bank and on your relationship with the bank. Some banks will do what your daughter's did, some will go ahead and allow it to clear and if the hold gets charged for the full amount will then put the account into overdraft - with associated fees, of course!

@4cylndrfury: That's more ballsy than I am with the float! For the $.00001 potential reward, I'm not willing to risk the potential fees. I always leave a comfortable cushion in my checking account.
Aug. 10, 2011 12:19 p.m. 4cylndrfury SuperDork

In reply to dculberson:

worst case scenario, my checking acct will auto-draw from savings before I bounce, so Im good. It just saves me the hassle of doing a manual transfer myself. I suppose a few minutes of non-lazy on my part would remedy the situation equally as well
Aug. 10, 2011 12:23 p.m. 92CelicaHalfTrac SuperDork

This has been normal practice for years, to the best of my knowledge.

I understand why it's there. Otherwise what's to stop Joe Schmoe from having $5 in his account, pumping $100 worth of gas, and then bouncing?

The pumps have no way of telling current balance available to the card. They just throw an arbitrary number in there, if it's approved, then you pump. True amount is adjusted on the back end

Now the question is... is the bank going to hit her for an overdraft fee?
Aug. 10, 2011 12:30 p.m. Woody SuperDork

92CelicaHalfTrac wrote:

I understand why it's there. Otherwise what's to stop Joe Schmoe from having $5 in his account, pumping $100 worth of gas, and then bouncing?

Morality?
Aug. 10, 2011 12:30 p.m. 92CelicaHalfTrac SuperDork

Woody wrote:

92CelicaHalfTrac wrote:

I understand why it's there. Otherwise what's to stop Joe Schmoe from having $5 in his account, pumping $100 worth of gas, and then bouncing?

Morality?

I'm crying over here!!!!!
Aug. 10, 2011 12:31 p.m. 4cylndrfury SuperDork

92CelicaHalfTrac wrote:

I understand why it's there. Otherwise what's to stop Joe Schmoe from having $5 in his account, pumping $100 worth of gas, and then bouncing?

in a typical month (probably in the vicinity of at least 2k individual gas sales at most gas stations), how often do you think that happens? 3 times? 5? MAAAAaaaayybe even 20? But really, how much protection does the corner terror-mart really need? Sounds like most financial "guidelines" currently standing out there ...screw a bazillion suckers to protect a few businesspeople, and call it industry standard so you dont have to change. Nice...
Aug. 10, 2011 12:35 p.m. 92CelicaHalfTrac SuperDork

4cylndrfury wrote:

92CelicaHalfTrac wrote:

I understand why it's there. Otherwise what's to stop Joe Schmoe from having $5 in his account, pumping $100 worth of gas, and then bouncing?

in a typical month (probably in the vicinity of at least 2k individual gas sales at most gas stations), how often do you think that happens? 3 times? 5? MAAAAaaaayybe even 20? But really, how much protection does the corner terror-mart really need?

Sounds like most financial guidelines currently standing out there in capitalismland...screw a bazillion suckers to protect a few businesspeople, and call it industry standard so you dont have to change. Nice...

I fail to see who is actually getting screwed, here... Nobody is getting overcharged.

You're saying it's NOT okay for the gas station owner to protect his investment in any way that he can?

Look, i don't like the fact that every time i get gas, i get a $75 hold when filling up a car that i've never been able to put more than $40 in either... But what's a better solution?

Also interesting.... what's the deal with calling them the "Terror-mart?"
Aug. 10, 2011 12:37 p.m. Woody SuperDork

92CelicaHalfTrac wrote:

You're saying it's NOT okay for the gas station owner to protect his investment in any way that he can?

I'm saying that its not okay for the gas station owner to protect his investment with my investment.
Aug. 10, 2011 12:40 p.m. 92CelicaHalfTrac SuperDork

Woody wrote:

92CelicaHalfTrac wrote:

You're saying it's NOT okay for the gas station owner to protect his investment in any way that he can?

I'm saying that its not okay for the gas station owner to protect his investment with my investment.

That, i can roll with.

But what's the better FEASIBLE option? (Not trolling, i legitimately can't come up with one)

You could always prepay, which is essentially what you're doing anyways.
Aug. 10, 2011 12:41 p.m. carguy123 SuperDork

Moral to this story is don't use a debit card.
Aug. 10, 2011 12:44 p.m. foxtrapper SuperDork

92CelicaHalfTrac wrote:

I fail to see who is actually getting screwed, here... Nobody is getting overcharged.

True, no one is ultimately getting hosed in this specific transaction.

BUT... your money is now locked up, and as happened to this girl, she cannot now eat because she no longer has access to her own money. True, it will be "fixed" later, but right now, she's out of money and hungry.

And if you've got an account with the likes of BOA, they would hit her account for a declined fee when that store that she tried to buy lunch from hit her account. They will charge her for every attempt.
Aug. 10, 2011 12:47 p.m. DILYSI Dave SuperDork

Use a credit card. Problem solved. Debit cards are a bad idea in the first place.
Aug. 10, 2011 12:50 p.m. RossD SuperDork

When it happened to me, I was using it as credit card. I just stopped going to Shells and haven't run into that again.
Aug. 10, 2011 1:03 p.m. Tom Heath Web Manager

Or, walk yourself into the store and buy a specific amount of gas.

"I need 10 bucks on pump #3" means the pump shuts off at $10.00.
Inserting your card means "I'm not sure how much I'm going to take", so they guess at $100. (Or $80.00 around here, but you get my point.)
Aug. 10, 2011 1:10 p.m. Taiden HalfDork

Whenever I'm low on money, I work primarily with cash

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