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debit cards- gas station -hold is higher now - 6/12/2008 3:24:21 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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this un-thinking knucklehead has a liquidity crises. good thing he doesnt use shwab bill payer

http://consumerist.com/tag/debit-cards/?i=5015904&t=help-the-gas-station-froze-100-for-12-of-gas-and-my-rent-check-bounced

this is why- the "hold" is high. funny how the bank gets fees front end back end; and side end

http://www.charlotte.com/business/story/662160.html

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RE: debit cards- gas station -hold is higher now - 6/12/2008 4:03:00 PM

christine1

Posts: 6155
Joined: 12/15/2007
From: i'm headed to HIM...
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this is exactly why i don't pay at the pump, ever.

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RE: debit cards- gas station -hold is higher now - 6/12/2008 4:11:31 PM

kyraofMists

Posts: 3292
Joined: 7/29/2005
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It isn't just debit cards; it is any Visa or MasterCard.

The rules are not written by the banks or the gas stations. They are Visa and MasterCard rules. The one's consumers and merchants agree to abide by when they get a card or accept the card at their establishment.

The special rules for gas stations were initially written when people (gas station owners and consumers) wanted to get in and out of a gas station faster, i.e. they didn't want to have to walk inside and pay a clerk. Now that the price of the average gas tank has gone up, the regulations of Visa and MasterCard have shifted to accomodate this perk of not having to walk inside and pay.

If you don't like that rule, then you should see the allowances made for car rentals, hotels and cruise ships.

Knight's Kyra

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RE: debit cards- gas station -hold is higher now - 6/12/2008 4:15:00 PM

Termyn8or

Posts: 18681
Joined: 11/12/2005
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If I said it once I said it a million times. DO NOT use a debit based on your main checking.

You do one of two things, either open up a savings and use that debit or you get a secured credit card if you can't get a real one. No exceptions !

My checking account is sacrosanct, the card is only an ATM card, that is all. There is no logo on it, at my insistence. They did it automatically, but a phone call fixed it. Either issue me a card that only works like it did back in 1988 when I opened the account, or I will find a bank that can.

NEVER allow anything but a check written by your hand to draw money from your checking, except of course your own ATM card.

They keep saying everything is easy and free, but they never said it was cheap.

By the way, WTF is someone doing out riding a motorcycle without eleven bucks in his pocket ?

T

(in reply to pahunkboy)

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RE: debit cards- gas station -hold is higher now - 6/12/2008 5:00:50 PM

Smith117

Posts: 1447
Status: offline

quote:

ORIGINAL: pahunkboy

this un-thinking knucklehead has a liquidity crises. good thing he doesnt use shwab bill payer

http://consumerist.com/tag/debit-cards/?i=5015904&t=help-the-gas-station-froze-100-for-12-of-gas-and-my-rent-check-bounced

this is why- the "hold" is high. funny how the bank gets fees front end back end; and side end

http://www.charlotte.com/business/story/662160.html

I'd get a new bank card if I were them. I use the debit option every time and there is no "hold" if you do that. The "hold" is only for the credit option. Debit is just that, it's automatically debited from your account. I can go get gas right now, pay at the pump, and by the time I get home, it's posted in full to my account.

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RE: debit cards- gas station -hold is higher now - 6/12/2008 5:38:29 PM

FatDomDaddy

Posts: 3183
Joined: 1/31/2004
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You have two ways to use a "check card"

One is as a credit card and one is as a debit card.

My bank places a $1.00 hold when I pay at the pump.

When I use the card to pay for say groceries, I can have a free transaction if I use it as a "credit card" or pay $0.20 or 0.50 if I use it as a "debit card". It was clearly explained to me and they send periodical notes and updates of their policies to my accounts web page. I bank with a large bank with branches in 20 states.

It still amazes me when the person in front of me is asked "credit or debit" that at least six out of ten say debit. I see this as a choice, again, at least in the good ol' USA. Nobody is forced to use a bank or its cards. And if you don't like your bank, one is free to find another.

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RE: debit cards- gas station -hold is higher now - 6/12/2008 5:39:53 PM

FatDomDaddy

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Joined: 1/31/2004
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quote:

ORIGINAL: Smith117

quote:

ORIGINAL: pahunkboy

this un-thinking knucklehead has a liquidity crises. good thing he doesnt use shwab bill payer

http://consumerist.com/tag/debit-cards/?i=5015904&t=help-the-gas-station-froze-100-for-12-of-gas-and-my-rent-check-bounced

this is why- the "hold" is high. funny how the bank gets fees front end back end; and side end

http://www.charlotte.com/business/story/662160.html

I'd get a new bank card if I were them. I use the debit option every time and there is no "hold" if you do that. The "hold" is only for the credit option. Debit is just that, it's automatically debited from your account. I can go get gas right now, pay at the pump, and by the time I get home, it's posted in full to my account.

There is no "Point of Sale" fee on your debit charge?

(in reply to Smith117)

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RE: debit cards- gas station -hold is higher now - 6/12/2008 6:13:21 PM

daddysblondie

Posts: 181
Joined: 3/17/2007
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My bank does not charge me for Point of Sale transactions, however some retailers do. When I'm using my debit card as a place that charges for POS, I use it as a credit card. If not, I use it as a debit card.

Of course, i also heard recently that most banks/ Visa/ MasterCard charge retailers LESS for credit transactions than they do for debit transactions. I figure I'm willing to save them a few pennies, it works in my benefit in the long run.

Pays to be informed, but then I'm an accountant/ math teacher so numbers make sense to me...

(in reply to FatDomDaddy)

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RE: debit cards- gas station -hold is higher now - 6/12/2008 6:20:48 PM

angelwithhonor

Posts: 193
Joined: 5/16/2007
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...i was doing some ebay selling for my brothers gf. and when i set the account in my name. i was charged $1.00 three times. not sure why yet since i am new to the site and what not. also get charged a $1.00 at the pump if using my card. oh yeah and i paid a electric bill on line, this was a kicker. was charged $2.95. grrrrrrrr. i know there is regulations and terms. but damnnnnnnnn...

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RE: debit cards- gas station -hold is higher now - 6/12/2008 6:46:12 PM

Alumbrado

Posts: 5560
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My card has put a hold (not a fee) of $1.00 on gas purchases for quite some time now, and usually double the room rate for hotels. I'll have to look and see if it goes up for gas.

On the other hand, my bank doesn't bounce checks based on holds, they clear those before running any outstanding real transactions.

(in reply to angelwithhonor)

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Post #: 10