and paige too pwnag3
and paige too pwnag3
I wonder if the billions of dollars being held out of peoples accounts at any one time, but still "in" the banks, are put to work by the banks. My guess would be they are. facinatin'
In my area $100 hold is standard, most of the pumps have stickers.
How fast your bank releases the hold after the purchase is up to them.
Talk to your bank, they should be able to help clarify what is going on.
4cylndrfury wrote:Tom Heath wrote: Or, walk yourself into the store and buy a specific amount of gas.A sensible plan, to be sure. But how often are you able to say "I need specifically $36.87 to fill my tank"?
They will give you change if you overpay. (Been living with almost 100% cash the past year; it forces you to really think about how much you're spending.)
Woody wrote: 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.
The guy that looks like you probably puts a hold on your card too. You just don't notice or don't care, most likely because he looks a little like you.
local business man who looks a lil like you vs gas station attendant who may or may not have links to terrorists - yeah, i understand that line was said in jest - but if they all are major gas station chains, then really it makes no difference, its a job anyone goes for when they have few options. I'm not a political-correctness crusader, but i do think its worth pointing out that the guy's race is not a factor in any of this (and was not worth making an initial remark about it).
that aside, back on topic - the $100 thing would sink me into an overdraft! - but ive always encountered the placeholder charge as just being a buck til the actual amount is pulled a day or so later. best action you could take, i think, would be emailing/writing the company and telling them about the practice, versus the friendlier $1 initial charge practice that other places have. it may be a regional thing - i'm on the east coast, in the nyc tri-state area.
another dude who could be described physically as having links to terrorism, omar
Maybe it's time for an overdue lesson?
Withdrawing cash from a non-fee ATM is a better choice. Even paying the penalties of non-affiliated ATM's can be less hassle..........
Authorization here is 1 dollar. I too will hit it with low account balance and just handle it when I get home. Even those who try to skip out, most banks will pay the overdraw and just charge the customer, I doubt the gas station is getting screwed.
MadScientistMatt wrote: <They will give you change if you overpay. (Been living with almost 100% cash the past year; it forces you to really think about how much you're spending.)
I gave up on my CCs when the economy tanked. I now live on cash and my debit card... it is a totally different world view
mad_machine wrote:MadScientistMatt wrote: <They will give you change if you overpay. (Been living with almost 100% cash the past year; it forces you to really think about how much you're spending.)I gave up on my CCs when the economy tanked. I now live on cash and my debit card... it is a totally different world view
It's better "down here," isn't it?
Tom Heath wrote: Or, walk yourself into the store and buy a specific amount of gas.
There is one station here that works that way only. Go inside first and pay. If you don't pump what you paid for they will give you change for the difference. FYI: It is a cash only station. No "plastic" of any kind accepted.
Not quite the same but there are several stations around here where if you choose the "pay inside" option on the pump during the daytime it will shut off at $25. After 7:00pm everyone not using "plastic" must prepay inside.
Shaun wrote: We simply need to deregulate banking and let the market work it's magic.
Huh, this sounds more like an area that needs to be regulated. like not holding someones account for more than they purchase if they can't figure out a way to make the transaction more instantaneous. Do we want to go back to being a nation of sweatshops?
Next time, go to the same outfit with $20 in change in dirty knee sock. Half an hour of them counting nickles might give some temporary satisfaction.
Meh.
There are a lot of businesses that do the same thing. Some of that is the business, some of it is the bank. Don't like it, don't do business with them. Having been screwed by customers myself more than once, I don't have the problem with it, nor blame them for protecting themselves.
Be glad you live in the good old USA. The great thing about a capitalist system, if you don't like the way a company does business, you don't have to give them your money. You get to regulate them directly by shopping elsewhere.
I live in California and all the gas stations have a sign on the pump saying that if you use a debit card, a hold will be placed on it for up to 24 hours I think. According to the sign, its not the gas station but the financial instigation that issues the card that is responsible for it. Not sure of the reason for it, but it may just be the payment method, not the gas station.
carguy123 wrote: Moral to this story is don't use a debit card.
For once, I agree. Go inside, pay for $20 worth, then pump it.
Appleseed wrote: Next time, go to the same outfit with $20 in change in dirty knee sock. Half an hour of them counting nickles might give some temporary satisfaction.
Because the poor sap behind the counter is really to blame?
Seriously, go inside with 40 bucks, fill up, go get change. Not a problem.
Datsun1500 wrote: No it will not. They are not charging $100 just putting a hold on it. Hotels, rental cars, also do it. It is a way to ensure the business gets paid for the product.
The best one I had happen was for my sister's wedding at a Shereton on Long Island. Like I've done for about ten years I got the room on Priceline. Most hotels put a $50 hold on my card for incidentals. I go to check in and I'm declined. They tried to put in a $500 hold incase I used the minibar. Even though I had moved more than enough to the account to cover the room I didn't have an extra $500 in the account so it didn't go through. The kid says that $500 is manditory so I couldn't stay, then since I booked through Priceline they wanted to charge me for the room I couldn't have because I agreed to pay no matter what in the contract.
wow Wally... that just... sucks
Shaun wrote: I wonder if the billions of dollars being held out of peoples accounts at any one time, but still "in" the banks, are put to work by the banks. My guess would be they are. facinatin'
There isn't any money held "out of people's accounts".
It's a hold. The money is still in the owner's account.
At least on paper, as usual.
The ban doesn't take money out and then later return it. They freeze certain money so it can't be removed for a period of time.
92CelicaHalfTrac wrote: 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?
here in MN, most places let you pump the gas before paying for it. you pull up, pump your gas, then go inside and pay. the only thing keeping you from not paying is the knowledge that they keep track of every license plate that goes thru there, and they are quick to call the cops if you drive off. and cops are quick to find you if a gas station calls in your plate number... you get the hold put on the card if you pay at the pump, but if you pay then go inside and pay, there is no hold. if you are one of those old fashioned idiots that's using cash like me, then it's not an issue.
I have never heard of this. Is it a state by state thing? I have put like $10 of gas in the car and I am lucky if I have more then $100 in my banking account. And why is a debit card a bad idea?
MadScientistMatt wrote:4cylndrfury wrote:They will give you change if you overpay. (Been living with almost 100% cash the past year; it forces you to really think about how much you're spending.)Tom Heath wrote: Or, walk yourself into the store and buy a specific amount of gas.A sensible plan, to be sure. But how often are you able to say "I need specifically $36.87 to fill my tank"?
It is absolutely terrible that way. Go in, wait 10 minutes as everyone is buying cigarettes and lottery tickets. Pay your $40. Go outside, learn the pump hasn't been set. Buzz in. Explain your situation. Explain again. Wait. Buzz in again. Explain your situation. Wait. There we go. Pump $36.87. Go inside. Wait 10 more minutes in line. Explain your situation. Tell them you already paid the $40. Explain your situation. Wait for them to take a call on their cell. Explain your situation. Get your change.
I think the only time I tried this, it took around 40 minutes.
"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..."
Isn't there a more appropriate place to bring that sort of statement than this message board?
93EXCivic wrote: I have never heard of this. Is it a state by state thing? I have put like $10 of gas in the car and I am lucky if I have more then $100 in my banking account. And why is a debit card a bad idea?
I have read numerous articles on personal finance that warn of the dangers of debit cards. The "hold" thing is routine.
A quick google will reveal dozens more similar articles. I don't carry a debit card and haven't for at least 10 years. They can't do anything a credit card can't do better. Of course, I've got a little self-discipline and I realize that I need to pay the balance in full when the bill comes. Some people apparently aren't capable of doing that. 
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