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Author Topic: "I'm never shopping THERE again!" Share your story!  (Read 2455474 times)

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Luci

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5715 on: April 15, 2014, 08:18:02 AM »
I spoke with the waitress at the time, the cashier when I called today and the owner when she called me back.

Although I have two separate transactions for two different amounts from the same merchant. One, for the full amount, is a hold. The other, lesser amount, is a closed charge. The owner insisted that it was impossible for the restaurant to have charged me and put the hold on the card.

If the hold doesn't go off my account Wednesday, I will call and dispute the charge.

The hold is always on there when that happens and it is not the restaurant that put the hold, but your bank (I've been through this several times).  It sounds like someone charged the wrong amount,  then refunded it (or closed the transaction), then charged the correct amount. It would have been less hassle to just ring up the difference as an additional transaction, but some places do not allow their employees to do that. It usually goes away after a few days, but it's so freaking annoying, especially if it's a higher dollar amount. 


My DH had an on-line merchant that that happened with a few months ago.  Something happened where during the order process, the website refused to recognize our address as legit.  He called the merchant and did it as a phone order.  They had to cancel the first transaction for $150, then replace the order for $150.00.  It took over a a week for that hold to come off, even though it wasn't completely processed (there wasn't a charge, refund, then charge).

What is a "hold"? Thanks.

Dazi

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5716 on: April 15, 2014, 08:50:33 AM »
I spoke with the waitress at the time, the cashier when I called today and the owner when she called me back.

Although I have two separate transactions for two different amounts from the same merchant. One, for the full amount, is a hold. The other, lesser amount, is a closed charge. The owner insisted that it was impossible for the restaurant to have charged me and put the hold on the card.

If the hold doesn't go off my account Wednesday, I will call and dispute the charge.

The hold is always on there when that happens and it is not the restaurant that put the hold, but your bank (I've been through this several times).  It sounds like someone charged the wrong amount,  then refunded it (or closed the transaction), then charged the correct amount. It would have been less hassle to just ring up the difference as an additional transaction, but some places do not allow their employees to do that. It usually goes away after a few days, but it's so freaking annoying, especially if it's a higher dollar amount. 


My DH had an on-line merchant that that happened with a few months ago.  Something happened where during the order process, the website refused to recognize our address as legit.  He called the merchant and did it as a phone order.  They had to cancel the first transaction for $150, then replace the order for $150.00.  It took over a a week for that hold to come off, even though it wasn't completely processed (there wasn't a charge, refund, then charge).

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.
Meditate. Live purely. Quiet the mind. Do your work with mastery. Like the moon, come out from behind the clouds! Shine. ---Gautama Buddah





Luci

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5717 on: April 15, 2014, 08:59:37 AM »

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.

What is a "preauthorization"?

I have had bank accounts and credit cards for 50+ years and have never heard of anything like this except for a deposit of a check taking a week to clear, which now is 2 days with electronics so efficient. My "available balance" is just that, except for not having the deducted whatever they haven't received yet - like the check is in the mail type of thing.

(Sorry. I tried searching and got nothing.)

Yvaine

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5718 on: April 15, 2014, 09:13:11 AM »

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.

What is a "preauthorization"?

I have had bank accounts and credit cards for 50+ years and have never heard of anything like this except for a deposit of a check taking a week to clear, which now is 2 days with electronics so efficient. My "available balance" is just that, except for not having the deducted whatever they haven't received yet - like the check is in the mail type of thing.

(Sorry. I tried searching and got nothing.)

It's money that's not actually gone from your account yet but that you can't access. It's like the bank saying "This money is still here, but we think you're about to have a charge go through for this amount, so you can't use that money right now."

Luci

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5719 on: April 15, 2014, 09:18:59 AM »

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.

What is a "preauthorization"?

I have had bank accounts and credit cards for 50+ years and have never heard of anything like this except for a deposit of a check taking a week to clear, which now is 2 days with electronics so efficient. My "available balance" is just that, except for not having the deducted whatever they haven't received yet - like the check is in the mail type of thing.

(Sorry. I tried searching and got nothing.)

It's money that's not actually gone from your account yet but that you can't access. It's like the bank saying "This money is still here, but we think you're about to have a charge go through for this amount, so you can't use that money right now."

How do they know? Who is messing in the account? (I wish I had put this in the "little things that don't deserve their own thread", but I'll try this last question. Thanks.)

Yvaine

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5720 on: April 15, 2014, 09:22:10 AM »

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.

What is a "preauthorization"?

I have had bank accounts and credit cards for 50+ years and have never heard of anything like this except for a deposit of a check taking a week to clear, which now is 2 days with electronics so efficient. My "available balance" is just that, except for not having the deducted whatever they haven't received yet - like the check is in the mail type of thing.

(Sorry. I tried searching and got nothing.)

It's money that's not actually gone from your account yet but that you can't access. It's like the bank saying "This money is still here, but we think you're about to have a charge go through for this amount, so you can't use that money right now."

How do they know? Who is messing in the account? (I wish I had put this in the "little things that don't deserve their own thread", but I'll try this last question. Thanks.)

Nobody's messing in the account except the merchant and the bank/card company. I really don't know what else to say.  :-\

ladyknight1

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5721 on: April 15, 2014, 09:24:35 AM »
I have talked with the bank and there are two different transaction ID numbers. They ran one for the full amount, couldn't print the receipt to sign and ran it again instead of reprinting. They occurred 2 minutes apart.
ďAll that is gold does not glitter, Not all those who wander are lost; The old that is strong does not wither, Deep roots are not reached by the frost."
-J.R.R Tolkien

Luci

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5722 on: April 15, 2014, 09:33:24 AM »

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.

What is a "preauthorization"?

I have had bank accounts and credit cards for 50+ years and have never heard of anything like this except for a deposit of a check taking a week to clear, which now is 2 days with electronics so efficient. My "available balance" is just that, except for not having the deducted whatever they haven't received yet - like the check is in the mail type of thing.

(Sorry. I tried searching and got nothing.)

It's money that's not actually gone from your account yet but that you can't access. It's like the bank saying "This money is still here, but we think you're about to have a charge go through for this amount, so you can't use that money right now."

How do they know? Who is messing in the account? (I wish I had put this in the "little things that don't deserve their own thread", but I'll try this last question. Thanks.)

Nobody's messing in the account except the merchant and the bank/card company. I really don't know what else to say.  :-\

Last question - I promise:  Is this a debit card thing?

If so, Bingo! I'm out of here and will never be affected.

Harriet Jones

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5723 on: April 15, 2014, 09:43:37 AM »

What is a "hold"? Thanks.

A hold is just another name for a preauthorization.   When I log on my bank's website,  it has my balance and available balance shown.   The available balance is the things I've purchased,  that there is a hold on,  but haven't officially cleared my account yet.

What is a "preauthorization"?

I have had bank accounts and credit cards for 50+ years and have never heard of anything like this except for a deposit of a check taking a week to clear, which now is 2 days with electronics so efficient. My "available balance" is just that, except for not having the deducted whatever they haven't received yet - like the check is in the mail type of thing.

(Sorry. I tried searching and got nothing.)

It's money that's not actually gone from your account yet but that you can't access. It's like the bank saying "This money is still here, but we think you're about to have a charge go through for this amount, so you can't use that money right now."

How do they know? Who is messing in the account? (I wish I had put this in the "little things that don't deserve their own thread", but I'll try this last question. Thanks.)

Nobody's messing in the account except the merchant and the bank/card company. I really don't know what else to say.  :-\

Last question - I promise:  Is this a debit card thing?

If so, Bingo! I'm out of here and will never be affected.

No, I think they do the same thing with credit cards.   It really doesn't have much of an effect unless you're really close to your limit.

Flibbertigibbet

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5724 on: April 15, 2014, 09:54:53 AM »
Luci45 - I'll have a go at explaining: the 'hold' only gets placed on the account when you are carrying out a transaction where you get the 'goods' before you make final payment, or don't know the precise amount, like getting petrol (gas), ordering in a restaurant or running a tab at a bar.

The merchant or self service machine pre authorises a 'guess' amount on your account to make sure you have sufficient funds to make the purchase. For example, at the self serve petrol stations I use, you put your card in before getting any fuel and it pre-authorises you up to £100 of petrol. Then you put the petrol in the car (which for me is less than £100 - say £50), and then the actual sale is recorded. For that transaction I would have a 'hold' of £100, cancelled out by a £50 real purchase. In the PPs case it seems that she/he got both the hold and the real purchase put through and that they stayed on the account, causing an issue.

Obviously you need to watch out for a genuine double charge as seemed to have happened to that PP, but in the normal course that doesn't happen. As another PP said, its only really an issue if the hold stays for an extra long time or you are really close to your credit limit/funds available in your account.

Hope that helps :)

ETA because I needed to add a crucial word and demonstrate that I can in fact spell!
« Last Edit: April 15, 2014, 10:30:07 AM by Flibbertigibbet »

Dindrane

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5725 on: April 15, 2014, 09:57:14 AM »
Luci, holds can be done on either debit or credit cards. Neither credit nor debit transactions are immediate, since they must first be initiated by the business, then authorized by you, then actually posted to your account (by the bank, I think). That process is normally completed within a couple of business days, but I've never known debit or credit charges to show up on my account immediately. My understanding is that holds on your credit card would happen while that process is incomplete. The hold is money that is earmarked as unavailable, even though it hasn't officially been spent yet. It's similar to a person writing a check and noting that the amount is no longer available to them, even though it takes several days for the money to actually be removed from their account. The difference is that rather than me mentally earmarking $30 for dinner as unavailable, it's the merchant or my bank physically earmarking that $30 as unavailable while the actual charge is pending.

In general, people are unlikely to notice such holds unless they are large (particularly in comparison to the balance available) or they don't get resolved within a few days. I personally only use about a tenth of my available credit at any given time, and only check my account about once a week, so I rarely notice holds. They generally don't affect my ability to use the card, and they usually disappear before I check my recent transactions.

I did have a very frustrating experience with a hold once, though. It was when I'd only had my credit card for a very short time, and so still had something like a $500 limit on it. I had to buy a new battery for my laptop, but the company I bought it from charged me for the battery and then also put a hold for the battery that lasted for several weeks. So for several weeks, I was missing about a third of the credit that should have been available to me. It wasn't the end of the world, since I mostly had the credit card to build up my credit history (rather than because I really needed it), but it was very frustrating and made me very wary about buying things from that company in the future.


Slartibartfast

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5726 on: April 15, 2014, 10:01:19 AM »
It's both a credit and a debit card thing.  You get a hold placed on your card when you use it somewhere you don't know the total yet when you swipe the card, such as a restaurant or a gas station.  The bank locks down a certain dollar amount which is a bit higher than the amount you actually expect to spend, then when the actual charge goes through, the rest gets released soon afterward.  Sometimes it takes a few days.  The purpose is to prevent a scenario like this:

Alice and Bob have a $500 limit on their shared card, but are carrying a $450 balance

Bob goes to get gas and puts $35 in the tank.  At the exact same time, Alice (using her own card, which is linked to the same account) goes to a different gas station and puts $35 worth in her own tank.

If both card swipes are run before either of them actually charges, they'll both show that last $50 as being "available."  And then after the gas is pumped, the two charges will combine to put the card over the $500 limit.

Instead, when Bob goes to swipe his card at the gas station, the bank puts a hold of ~$50 on the card.  When Alice tries to use the card a minute later, the bank says "Whoa, wait, that money's already earmarked for something!" and refuses her charge.  Bob buys $35 worth of gas, and a day or two later the remaining $15 is released from the hold.

It's really annoying when you're skating close to the limit on your credit cards, but if you don't do that you probably never see the hold unless you happen to check your online bank statement on a weekend right after going to a restaurant or gas station.

ETA: Or, you know, what the two posters above me said while I was typing  ::)
« Last Edit: April 15, 2014, 10:03:22 AM by Slartibartfast »

Luci

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5727 on: April 15, 2014, 10:26:03 AM »
Thank you! I've never had to swipe the credit card before dining, even with a 3 generation party of 40, but maybe our being in the midwest US and  being seen as 'reasonably dressed polite party' got us by that. Like it or not, people are profiled.

With gasoline, I don't even look. I just follow the instructions on the pump.

Now that I think about it, about 20 years ago we used our credit card to put $20,000 on a purchase and the seller did call to make sure we were good for it. I couldn't look online at the time to view the account, but didn't much care. (We had been saving for the purchase and had a CD coming due before the due date - so no interest charges even!)

Thank you again for your explanations and patience.

wolfie

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5728 on: April 15, 2014, 10:28:09 AM »
Thank you! I've never had to swipe the credit card before dining, even with a 3 generation party of 40, but maybe our being in the midwest US and  being seen as 'reasonably dressed polite party' got us by that. Like it or not, people are profiled.

With gasoline, I don't even look. I just follow the instructions on the pump.

Now that I think about it, about 20 years ago we used our credit card to put $20,000 on a purchase and the seller did call to make sure we were good for it. I couldn't look online at the time to view the account, but didn't much care. (We had been saving for the purchase and had a CD coming due before the due date - so no interest charges even!)

Thank you again for your explanations and patience.

It's not that you swipe the card before dining - you swipe the card before adding on the tip. So they aren't sure if you will be paying the $100 they charge and then tipping in cash (or not at all) or if you will put the tip on the card so now it is $115 that they will be charging you.

nuit93

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Re: "I'm never shopping THERE again!" Share your story!
« Reply #5729 on: April 15, 2014, 10:39:58 AM »
I nearly had a heart attack once when I pumped gas at my grocery store's station and saw my account balance was negative because they'd charged me $99 even though I'd only pumped about $10.  Turns out they do the hold thing, and by the time I got into the store to ask about it, the situation resolved itself and my account was no longer in the red. PHEW!

There are gas stations in my area that do this, but they also make it clear in signs next to the pumps that their bank may authorize a higher amount than they actually pump and that they have no control over it (basically "take it up with your bank and don't bug our employees about it").