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Sunoco gas receipt2/28/2024 ![]() PIN-based debit transactions are carried out immediately, so the bank doesn’t need to reserve additional funds on the off-chance that you’re going to skip out on what you owe. This security measure only applies if you don’t use a PIN number at the pump. It is normal for some gas stations to do this for first-time buyers from that particular station, as was the case for a couple in Cleveland who found themselves with a $151 hold. This protects the gas companies and ensures that they get paid for the gasoline you buy from them. To recoup their losses from people trying to willfully pay with cards linked to accounts with insufficient funds, the gas companies place a hold on a set amount of your money. The gas is not like an item in their convenience store, which has a pre-set price. This is because when you pull up to the pump, the gas company does not know how much gas you’re going to buy. Every gas company has its own policy regarding how much money it blocks, ranging from as little as $1 all the way up to $90. The amount of the hold depends on the gas company. The exception is Current members, who get gas holds instantly returned to them. Many banks will tie up your cash for days. ![]() How long the hold is depends on the bank. This hold is placed for up to 72 hours, at which point the gas station conducts a “batch” transaction that tells the bank how much the actual amount of the gas transaction was. ![]() What happens is when you use your debit card at a pump that does not require a PIN, your bank freezes an amount on the card (also known as a pre-authorization hold). They pay the amount they intended for the transaction, plus an additional charge for much more that they didn’t plan on spending, but it appears as two different charges on their statement or in their online banking account. There are many news stories of this happening to people, whether they stop for gas at a chain station or a mom & pop location. Sometimes, the transaction can last for days before it reverts to the actual amount you spent at the pump. You may have discovered an extra $90 charge on your card after you get gas at your local station. The hold ensures that the vendor will get appropriately paid after you’re done, but this can put consumers in a tough spot. Pre-authorization charges are a common practice when a vendor (a gas station, a hotel, or a rental car agency) doesn’t know exactly how much of their service you’re going to pay for.
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