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Why is there a hold on my debit card?

debit card hold gas station hotel car rental accountnow If you regularly use debit cards, you may have been surprised to find some of your funds tied up because of a “hold” placed on your account. This is usually the result of renting hotel rooms, cars, or purchasing gas.

A “hold” may be placed on a prepaid debit card account to ensure that sufficient funds remain in the account to cover the cost of a transaction.

Learn how to avoid gasoline purchase holds and release rental holds early.

Using your debit card for gas at the pump – Pay Inside

Since prepaid cards are not credit cards, you must have sufficient funds in your card account in order to make a purchase. Unless you specify the exact dollar amount of your gasoline purchase, a hold may be placed on your account (up to $125) to ensure that you have sufficient funds for the gas. [Read more…]