On Your Side: To avoid overdrafts, gas stations increase hold amounts

Published: Jul. 1, 2022 at 4:41 PM CDT|Updated: Jul. 1, 2022 at 6:23 PM CDT
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SPRINGFIELD, Mo. (KY3) - Here’s an On Your Side warning as you fill up your tank during the long holiday weekend.

If you pay at the pump, check your account before pulling into the gas station. Consider it a sign of the times. Gas stations and financial institutions know you’re paying more. The temporary hold on your debit or credit card is up-we are talking about 40% more.

Traci Broeker discovered that while filling up.

“All of a sudden, I saw QT outside, $175. I literally jerked my head and said oh my goodness,” said Broeker.

The pre-authorization hold protects the service station from fraud. It doesn’t know much gas you’re getting and wants to ensure there’s enough in your account to cover it.

Of course, the hold goes away, and you’re charged what you pump. For Broeker, that was $46.30

Still, depending on your bank or credit card company, processing can take a few hours or days, especially over a holiday.

Broeker is glad she just happened to check her account. She changed her plans because of it.

“Instead of going to the grocery store, we went to lunch,” she said.

Otherwise, she might have gotten dinged and in the red. It never hurts to ask your bank to wave an overdraft charge, especially if you have a good history.

How to dodge the hold:

Pay with cash.

Use a credit card instead of a debit card, especially if you have more wiggle room.

Go in the store and pay before you pump.

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