Categories: General
      Date: Sep 20, 2012
     Title: Using your debit card can be a shocker

By TAMMI KATE LEDFORD

So have you inserted your debit card in a gas pump to discover that you can only purchase a minimal amount of fuel? Panicked, call your bank thinking someone has wiped out your bank account.  You may have been the victim of a credit card processing company’s guaranteed funds policy to retailers.



By TAMMI KATE LEDFORD

So have you inserted your debit card in a gas pump to discover that you can only purchase a minimal amount of fuel? Panicked, call your bank thinking someone has wiped out your bank account.  You may have been the victim of a credit card processing company’s guaranteed funds policy to retailers. Credit Card processing companies charge a fee to handle retailers debit and credit card purchases and for the use of the actual swipe machine that collects the information to transfer the money from the consumers account to the retailers account. If you have encountered this situation recently you are not alone.  It’s not the store and it’s not your bank, it’s the credit card processing companies making life and purchasing fuel difficult. Jennifer Hunter, manager of Express Lane-Juan’s Burrito’s stated, “Even the diesel pumps where (semi) trucks fuel are limited to $35.”

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