£100 for £20 petrol

emmajones1976

troffasky said:

Funny how they can request "too much" instantly, but correcting it to the lower amount takes hours or days, isn't it?

Well yes, that how the banking system works.

Username03725

troffasky said:

Funny how they can request "too much" instantly, but correcting it to the lower amount takes hours or days, isn't it?

'They' aren't requesting it, they're ring-fencing a fixed amount because of the way buying fuel via Pay At Pump works - you insert your card, enter your PIN then remove it. At that point there's nothing to say how much fuel you might buy so the merchant (supermarket in this case) needs to ring-fence a sensible amount in your account. As mentioned a few posts ago VISA & Mastercard transactions now usually clear the following day, and when it does the £100 ring-fenced in your account drops out of the equation when the actual amount hits the account and the clearing process replaces the ring-fenced amount with the actual txn value. 

You'd have to ask your (or any) bank why it takes 24 -36 hours for an electronic transaction to clear through an account. It used to be measured in days as it relied on computer tapes being physically delivered to banks around the UK, nowadays it's all done electronically. 

born_again

Username03725 said:

troffasky said:

Funny how they can request "too much" instantly, but correcting it to the lower amount takes hours or days, isn't it?

'They' aren't requesting it, they're ring-fencing a fixed amount because of the way buying fuel via Pay At Pump works - you insert your card, enter your PIN then remove it. At that point there's nothing to say how much fuel you might buy so the merchant (supermarket in this case) needs to ring-fence a sensible amount in your account. As mentioned a few posts ago VISA & Mastercard transactions now usually clear the following day, and when it does the £100 ring-fenced in your account drops out of the equation when the actual amount hits the account and the clearing process replaces the ring-fenced amount with the actual txn value. 

You'd have to ask your (or any) bank why it takes 24 -36 hours for an electronic transaction to clear through an account. It used to be measured in days as it relied on computer tapes being physically delivered to banks around the UK, nowadays it's all done electronically. 

Bank approves authorisation straight away once pin is entered. They then have to wait for retailer in the case of Pay at pump to process the correct amount. That is the delay. 

End of the day banks are more likely to make money from someone going over their limit with the old £1 auth & take what you want. Than the £100 which is reduced down if not enough funds in the acc. Which then limits the amount of fuel that can be taken.

Ergates

GDJTAM said:

born_again said:

Seems you spoke to a rep that either was not paying attention or did not understand your question.
As the amount that debits is the amount of the fuel you took. So, Unless that is more than your account balance there are no overdraft charges...

No one is getting charged for anything that is in their control.

Overdrafts only apply to debited funds. NOT authorisations. 👍

The chap I spoke to could see that my bank balance had decreased by £100, although the payment was marked pending had I gone overdrawn then I may have had difficulty using my debit card until funds were back in the black. Although this does not affect me I can't believe VISA or Mastercard would impose this on low income households?

VISA/Mastercard aren't "imposing" this on people - people are choosing to do this by using pay-at-pump.  It's a convenience, but it only works if the seller can pre-authorize a sum that is sufficient to fill the tank of a car.   

The alternative is to pay in the kiosk - which is an option at nearly every petrol station in the UK (I've never seen one that didn't have a kiosk - though I wouldn't be surprised if there were a few about).  People in financial hardship have to make many compromises, this is one of them.

Shakin_Steve

I have regularly used two debit cards and one credit card at ASDA in Wakefield, only ever had £1 pre authorised.

scrappy_returns

troffasky said:

Funny how they can request "too much" instantly, but correcting it to the lower amount takes hours or days, isn't it?

Do you think they are living off the interest cos they won't be getting much currently?

emmajones1976

Ergates said:

GDJTAM said:

born_again said:

Seems you spoke to a rep that either was not paying attention or did not understand your question.
As the amount that debits is the amount of the fuel you took. So, Unless that is more than your account balance there are no overdraft charges...

No one is getting charged for anything that is in their control.

Overdrafts only apply to debited funds. NOT authorisations. 👍

The chap I spoke to could see that my bank balance had decreased by £100, although the payment was marked pending had I gone overdrawn then I may have had difficulty using my debit card until funds were back in the black. Although this does not affect me I can't believe VISA or Mastercard would impose this on low income households?

VISA/Mastercard aren't "imposing" this on people - people are choosing to do this by using pay-at-pump.  It's a convenience, but it only works if the seller can pre-authorize a sum that is sufficient to fill the tank of a car.   

The alternative is to pay in the kiosk - which is an option at nearly every petrol station in the UK (I've never seen one that didn't have a kiosk - though I wouldn't be surprised if there were a few about).  People in financial hardship have to make many compromises, this is one of them.

There are loads about. Asda have plenty of them, as an example. Even seen one on the shores of Loch Lomond in the village of Luss, and in the village of Applecross which is in the middle of nowhere in the Highlands.  

But as I said earlier, if this impacts anyone they can just go to a manned station.

RogerBareford

scrappy_returns said:

troffasky said:

Funny how they can request "too much" instantly, but correcting it to the lower amount takes hours or days, isn't it?

Do you think they are living off the interest cos they won't be getting much currently?

When a hold is put on money in an account like this the money doesn't go anywhere so nobody will be benefitting from this is anyway from getting any interest at all.

Ergates

emmajones1976 said:

Ergates said:

GDJTAM said:

born_again said:

Seems you spoke to a rep that either was not paying attention or did not understand your question.
As the amount that debits is the amount of the fuel you took. So, Unless that is more than your account balance there are no overdraft charges...

No one is getting charged for anything that is in their control.

Overdrafts only apply to debited funds. NOT authorisations. 👍

The chap I spoke to could see that my bank balance had decreased by £100, although the payment was marked pending had I gone overdrawn then I may have had difficulty using my debit card until funds were back in the black. Although this does not affect me I can't believe VISA or Mastercard would impose this on low income households?

VISA/Mastercard aren't "imposing" this on people - people are choosing to do this by using pay-at-pump.  It's a convenience, but it only works if the seller can pre-authorize a sum that is sufficient to fill the tank of a car.   

The alternative is to pay in the kiosk - which is an option at nearly every petrol station in the UK (I've never seen one that didn't have a kiosk - though I wouldn't be surprised if there were a few about).  People in financial hardship have to make many compromises, this is one of them.

There are loads about. Asda have plenty of them, as an example. Even seen one on the shores of Loch Lomond in the village of Luss, and in the village of Applecross which is in the middle of nowhere in the Highlands.  

But as I said earlier, if this impacts anyone they can just go to a manned station.

Now that you mention it - yes, I think our nearest ASDA might have one

Ergates

RogerBareford said:

scrappy_returns said:

troffasky said:

Funny how they can request "too much" instantly, but correcting it to the lower amount takes hours or days, isn't it?

Do you think they are living off the interest cos they won't be getting much currently?

When a hold is put on money in an account like this the money doesn't go anywhere so nobody will be benefitting from this is anyway from getting any interest at all.

I think that was their point...