Why a $20 gas pump can cost you over $175

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Surprise in gas pumps depending on how you pay. An increase in the maintenance fee may result in an increase in the overdraft amount. When you top up and spend on a credit or debit card, there’s no telling exactly how much you’ll pump.

What’s known as a retention fee or pre-authorization fee is applied to your card. It used to be anywhere from one dollar, maybe up to $100.00, but now these commissions have increased and more stations are opting for them.

An ABC11 viewer had just finished pumping $20.00 worth of gas, and right after someone topped up her tab, she was left wondering when she saw $176.00 deposited into her bank account. She immediately called her bank and found out that the additional fees are a holding fee that the station places on the account until the actual amount you downloaded is processed.

These holding fees do go away in a few hours to two days, but if you use a debit card and don’t have extra money in your account, you may face additional overdraft fees. The maximum withholding amount used to be $125.00, but due to rising gas prices, Visa and MasterCard raised it to $175. Exact maintenance tariffs are set by individual gas stations.

How to avoid maintenance fees – always use credit, not debit. You can also pay in cash or go to the station and tell them exactly how much you want to charge your card.

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Why a $20 gas pump can cost you over $175

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