Yes, your point is well taken and we will do that in the future. But what I am upset about is that NO purchase occurred. The card was swiped; the transaction cancelled.
The nozzle was not even removed from the pump.
Yes, your point is well taken and we will do that in the future. But what I am upset about is that NO purchase occurred. The card was swiped; the transaction cancelled.
The nozzle was not even removed from the pump.
As far as not removing the nozzle I’m not sure how in the world they could do a pre-auth unless it’s just done automatically as soon as the card is swiped? I’ve never had that experience and I’m sorry it happened. I realize it’s a lot of money to have held.
Ok...the point is that you swiped the card. They put the hold on at the time of the swipe...before you’ve purchased anything. This happens every time you swipe.
When they cancel the transaction, another electronic communication goes to “release” the hold.
No one is getting your money. The gas station doesn’t make a nickel on it.
The issue is whether or not you have the funds. If the swipe goes through and tries to “grab” $75, and you don’t have the funds—the banks automated system may whack you for an overdraft. That too should come off with the release of the hold. If it doesn’t the bank would reverse it the next day..or if they don’t catch it, as soon as its obvious.
This is not new. And it has been litigated to death with the regulators and the banks and every consumer advocacy group known to man.
If this happens at a gas station you frequently use—tell them to get another card processor. That’s where the problem lies—not your bank and not the gas station.
The nozzle was not even removed from the pump.
This is quite common, and they are within the rules of the debit card agreement.
I had a "friend" who tried to use a debit card to rent a car for a road trip. He gave them his card and they immediately put a hold on about $500, which seems reasonable to me for a week-long car rental. Mid-way through the transaction he decided that he could get a better deal on a car through a different company and cancelled the transaction.
Unknown to him the hold does not go away when the transaction is cancelled, a fact he only discovered when he tried to rent a car from a different company. Their hold put him over the limit for his card and he could not rent a car. Back to the first company and when he tried to re-instate the first transaction, they would only precess a new one. That's right, the new transaction required a hold which was greater than his limit. He was totally screwed.
The real answer to this is to either accept the hold, or get a credit card with a sufficiently high limit that the hold will not bother you.
And, cash is not nearly as good a solution as some think. Not every business accepts cash, and you are on you own for record keeping. With a card, I get an annual summary, which is a lifesaver at tax time...