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800.991.2221
269.345.7804

 

PO Box 525
Oshtemo, MI 49077-0525

 

Routing # 272481839

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Debit Card Holds FAQs
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Debit Card Holds FAQs

 

Beginning September 14th, Consumers Credit Union will implement a new way your debit card "pending transactions" are handled. A pending transaction on your debit card will now hold the entire amount of the transaction, making it easier for you to see a more accurate account balance.

 

Benefits of this change include the ability to make better purchase decisions and avoid unnecessary fees due to accidental overdrafts, along with earlier detection of possible fraudulent transactions. Now, when viewing your checking account online, you'll see the consolidation of your pending debit card purchases listed conveniently at the top.

 

What is a pending transaction?

 

A pending transaction is an approved debit or credit transaction that has not yet posted to your account. The pending amount is deducted from your available credit but is not yet reflected in your posting transactions.

 

A transaction made with your ATM or Debit Card using a PIN is typically processed and posted to your account on the same day that the transaction is made. This process, however, could take up to the next business day to be posted. A transaction made with your Debit Card, but without your PIN, may take several business days to post to your account.

 

What happens when my pending transactions don’t match the actual charges?

 

This generally occurs when a merchant requests a hold against your Available Balance to ensure the funds are available for the transaction. If an actual purchase is made, the merchant will send the transaction, and the debit will post for the correct amount.

 

What is an authorization?

 

When you use your Debit Card for a purchase and use the card as credit, the merchant will request an approval or “authorization” for the transaction. The authorization confirms that an account is open and the purchase amount is approved at the time of request. Many merchants request an authorization for the exact amount. However, some merchants send an amount as low as $1 for authorization. Each authorization will show as a pending transaction. Usually within two to three business days you will see the actual purchase amount deducted from your account.

 

What could cause a pending transaction or authorization amount to be different from my actual purchase amount?

 

An authorization may vary from the final purchase amount when there is an estimated authorization amount or a tip is involved.

For example, at a restaurant the authorization is requested prior to the tip being added. The final purchase amount will include the tip and will be deducted from your account.

 

At the gas pump, an initial authorization is requested prior to dispensing fuel and determining the final amount of the purchase. When you pre-pay for gasoline at the pump, the gas station doesn’t know how much gas you’re going to buy. Stations want to make sure you can afford to fill up—so they authorize holds of $50, $75, even $100, which will fall off after the gas company processes that transaction (this may not happen immediately).

 

When will the actual purchase amount replace the pending amount and be posted to my account?

 

It may take several business days for the actual purchase amount to replace the pending transaction amount that is showing. The pending transaction is generally removed when the final purchase amount has been deducted from your account.

 

How does a “pay at the pump” transaction work?

 

At the gas pump, an initial authorization is requested prior to dispensing fuel and determining the final amount of the purchase. When you pre-pay for gasoline at the pump, the gas station doesn’t know how much gas you’re going to buy. Stations want to make sure you can afford to fill up—so they authorize holds of $50, $75, even $100, which will fall off after the gas company processes that transaction (this may not happen immediately).

 

How are restaurant or hair salon purchases authorized?

 

Restaurants and hair salons may add an estimated tip to the transaction total when requesting for authorization. Because of this, the final purchase amount may vary from the authorized pending amount.

 

How do hotels determine how much to authorize?

 

Hotels are allowed to request an authorization for an amount based on your length of stay, applicable taxes, as well as additional expected dollar amount. Cruise lines and car rental companies typically follow the same practice. Upon making your reservation, you may want to ask for the total amount of the authorization.

 

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