IS your bank account safe from the Gas companies??

[FUZZYJ692000]

Okay my mom sent me this off of MSN and I thought it was worth sharing with everyone.

http://moneycentral.msn.com/content.../P118381.asp?GT1=7158&Rating=10&PageID=118381

My 2 cents on this is that i can understand hotels putting holds on my account, at least they are telling me. however, i was totally unware that this was going on and talking with Lisa she suggested i put it in here to let everyone know to just be cautious about how you use your cards at your gas stations.

Has anyone else heard of this? i work at a bank and i always wondered why when i used my card as a credit at Sheetz that i also showed a $1 fee too until it went through. i guess now i know

 

[mantis]

Okay my mom sent me this off of MSN and I thought it was worth sharing with everyone.

http://moneycentral.msn.com/content/Banking/Betterbanking/P118381.asp?GT1=7158&Rating=10&PageID=118381

My 2 cents on this is that i can understand hotels putting holds on my account, at least they are telling me. however, i was totally unware that this was going on and talking with Lisa she suggested i put it in here to let everyone know to just be cautious about how you use your cards at your gas stations.

Has anyone else heard of this? i work at a bank and i always wondered why when i used my card as a credit at Sheetz that i also showed a $1 fee too until it went through. i guess now i know

this is insane
this stuff really makes me mad dude! ur always violated and you dont know about it!
good thing im too broke that they dont even accept my cash!

 

[arnisador]

I've had this happen to me before with hotels and car rental companies, on credit cards. The holds count against your limit. Very annoying.

 

[Sapper6]

the ultimate remedy: cash. don't leave home without it.

 

[FUZZYJ692000]

i've had the same experience with hotels but the difference is they are telling you that they are putting the holds on it. i've never had a gas station tell me they're putting a hold on my account for an amount that exceeds the amount that i bought. why do they need to put a hold on my account for $75 when that would fill my car up twice? that's my biggest problem is that it's not even for the amount that you spend.

 

[sgtmac_46]

It's not just Big Oil...The banks have their hands your cookie jar too. They love this kind of stuff, because if you over draft, they get to charge you HUGE fees, which are pure profit.

That's why the big push to do away with the cash based economy, and replace it with electronic transactions. It always works in favor of the house. It's harder to screw you with cash...If they give you back the wrong change, you know it immediately...And they don't charge you a huge FEE when THEY give you back the wrong change.

 

[arnisador]

Yes, the fees they charge are amazing. Someone bounced a check to us recently. Between our bank's fees (which they made good on) and theirs, it was more than the cost of the check. The credit card companies try to get you with late fees whenever they can--it's revenue for them, not something to cover the extra costs, for the most part.

 

[sgtmac_46]

Yes, the fees they charge are amazing. Someone bounced a check to us recently. Between our bank's fees (which they made good on) and theirs, it was more than the cost of the check. The credit card companies try to get you with late fees whenever they can--it's revenue for them, not something to cover the extra costs, for the most part.

And the very people they prey on aren't those with lots of money....It's those who live at the subsistence level.

What's more, it's not people purposely screwing up their accounts, it's situations like this where someone else altered their finances without their knowing it, and everyone charges exorbitant fees to them which the person obviously couldn't afford in the first place, otherwise they'd have had far more than enough to have covered the mistake.

What's more, it screws up every check or debit purchase that follows. Often times, it can mean that 5 or 10 checks overdraft, resulting in hundreds of dollars in over draft fees alone. This in turn results in a snowballing effect until it's sorted out. Banks are reluctant to waive fees as they make large amounts of revenue off these kind of transactions.

Basically, unless you make the kind of money where you can keep hundreds or thousands of dollars more in the bank then you need to use, you're going to get screwed.

 

[arnisador]

And the very people they prey on aren't those with lots of money....It's those who live at the subsistence level.

Yes...like gambling and paycheck-advance places (**spit**), a tax on the poor.