Arghco

More and more, I’m starting to become convinced of the evil that is oil.

Did you know that when you use your debit card to buy gas at Arco gas stations, they put a hold on your account for an amount between $70 to $100, for a week?

Most people don’t realize this because most of us have more than $70-100 in available cash in our accounts at any one time. But a friend, who is a branch manager at a local bank, recently described to me several instances where people who had less than $100 available in their accounts were not able to withdraw money. The crime perpetrated by these people? They bought $20 worth of gas using a debit card at Arco, and Arco put a $70-100 hold on the account attached to that card.

Why this gas station would do this, and how they could get away with it, no one knows for sure. But, not to mention the debit card fees that Arco charges that negate any savings you get from buying their gas, this further goes to show that the savings you think you’re getting at Arco doesn’t come without a price.

UPDATE: Turns out that this behavior isn’t specific to Arco, but to most gas stations in varying degrees. Thanks RonTopofIt, for digging up this link.

6 thoughts on “Arghco”

  2. And take note that this charge applies to Debit/Check cards only and not ATM card transactions where you enter your PIN.

    As a recent victim of check card theft, I’ve felt this preauthorization thing first hand. The real joy is that if you were to be down to your last $75 and you wrote a check against that same $75 you could get returned check fees applied which are not easily removed, believe me.

    Bottom line is that these check cards are the evil doers here. My advice is to use a credit card as often as you can. Accumulate the free miles, for example, and know you’re not on the hook for any bounced check fees or fraud activity.

    You can also request that your bank send you an ATM only card with no VISA/MASTERCARD affiliations.

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  3. I just keep $10,000 in my checking account at all times. That way if my card is stolen, it will be at least a week before I get any returned check charges applied to my account. Take THAT bankers!

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  5. Keep in mind, in terms of theft, that your check card is pre-authorized (mostly at gas stations as your final purchase amount is not determined at the time of the swipe) with as little as $1 confirmed in your account. So as long as you got a buck in your account the thief can run that card up to your daily limit which is usually in the $1,000 range. So while you may have realized that your card was stolen and cancelled it, those charges will still be submitted for payment by the gas station (in 1 to 5 days, too). If you don’t have the money in your account (because you closed it, let’s say) you’re on the hook for that money still and all overdraft fees will be assessed, plus you can be turned over to collections. It’s a mess.

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  6. I make it a point to NOT visit ARCO except most have a reliably tolerable De-caf. The ATM/gas surcharge is one reason. (Not on ATM purchases?)

    The thing is I am not poor enough to be too concerned about a few cents/gallon. The fact is I am a sore loser and for years the AM/PM’s had no public rest rooms. Why in hell would any body visit a place that cared so little about the customers?

    Granted, it is expensive and very troublesome to maintain a public rest room but that’s life in business. There are many persons that cannot be trusted in any facility. To call these people pigs is an insult to pigs.

    I usually try to leave a place a little cleaner than it was when I found it. And I will bust a bladder before buying from an inconsiderate business. The other day had business in Live Oak, above Yuba City. Finally had to find an rent-a-john at a construction site.

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