QT and bank cards

[cks511]

Hey, I did not know that when you buy gas at QT and use your bank card they place a $75 hold on your funds.  Is that standard procedure for all stations?  Just FYI.

[sgrizzle]

Yes, standard operating procedure for all "pay at the pump" transactions at all stations. The exact amount may vary. I've had stations hold $100 out. They don't know how much you're gonna by so they estimate high.

This is all credit and debit cards, but debit cards process a bit differently so it's more noticeable.

[Rowdy]

I never noticed that personally.  If I buy 25 bucks worth, they take out 25 bucks only-not more.

[snopes]

Interesting. I've never noticed that. So they put a "hold" on the account, but for how long? It certainly doesn't show up on the bank statement as such does it? And how would you notice unless you checked your account during or after the transaction was being made?

Pardon my ignorance, but I have so much money that I usually don't worry about such things... []

[BKDotCom]

More than you wanted to know

quote:from the article
Another issue that occurs on a regular basis with authorization holds is when the transaction amount changes between when the hold is placed on the account, and when the transaction is settled. This most commonly occurs in situations where the final debit amount is uncertain when the authorization is actually obtained.

For example, if an individual makes a gasoline purchase by swiping their check card or credit card at the gas pump without using their PIN, then the pump has no way of knowing how much gas will be used. The pump typically authorizes a fixed amount, usually between $50 and $100, to verify that the card is legitimate and that the customer has funds available. When the transaction is settled, it will actually post for the value of the purchase.

[azbadpuppy]

Just FYI- QT doesn't place the hold, the issuing bank does. Its standard procedure just like hotels do. Whenever you buy something and the amount isn't known up front, the issuing bank places a 'hold' on your card to cover their donkey.

[MichaelC]

Something I've noticed, with my bank anywhere I've used a debit card, if it's processed like a credit card instead of entering a pin, I'm much more likely to have a hold.

I keep minimal money at my bank.  It's elsewhere, places that it can actually make money.  So, I don't usually maintain enough room to screw around with holds.  I just use that card at ATMs.

[Steve]

When I buy gas at QT, I always use their "pump start" card to activate the pump, fill up, and then go inside to pay with my bank debit card after filling up.  To my knowledge, I have never had any hold placed on my account that was over the exact amount of purchase.

My bank card is a BOK Visa "check card"; the card is labeled as a debit card, but apparently is encoded and works only in credit mode, as I never enter PIN.  I always have to sign a receipt.  Someone once told me that that is how all BOK "debit" cards are encrypted.  I have tried to use the card in debit mode at the grocery store, but it never works and I always have to redo the transaction as a credit card.  Anyway, the withdrawal is usually immediate from my checking account (sometimes it can take up to 24 hours depending on the retailer), and I have never experience a hold or been charged any transaction fees by BOK.

[BKDotCom]

quote:Originally posted by Steve
pump, fill up, and then go inside to pay

That's the key. you're paying AFTER, when the total charge is known.  As apposed to swiping your card before they know the total.