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DEBIT CARD BLOCKS
Merchants have  the ability of placing a block or hold on your debit card. Despite the fact that no money actually leaves your checking account, a block will have an impact on your available balance.

Suppose you have $200 in your checking account and you pay for gas with your debit card. The gas station blocks out $50 and you purchase $20 worth of gas. Until that block is cleared, your available balance will be just $130, instead of $180. As a result, you may find yourself overdrawn and having to pay some significant fees in no time. If this ever occurs to you, be sure to contact your bank right away and explain the situation. You should also learn about overdraft protection to help protect you from circumstances like this.

Consumers that are near their credit limits or maintain low balances in their checking accounts should be watchful of blocking when they make purchases.

When traveling, it is wise that you bring an extra credit card with you.

Be certain that you inquire rental car companies and hotels about their blocking policies. Prior to registering, determine exactly how much money is going to be blocked on your card. Remind them to take-off the block once you return the car, or depart the hotel.

Always make sure with your bank that the block has been removed.


 

 

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