Ok...the point is that you swiped the card. They put the hold on at the time of the swipe...before you’ve purchased anything. This happens every time you swipe.
When they cancel the transaction, another electronic communication goes to “release” the hold.
No one is getting your money. The gas station doesn’t make a nickel on it.
The issue is whether or not you have the funds. If the swipe goes through and tries to “grab” $75, and you don’t have the funds—the banks automated system may whack you for an overdraft. That too should come off with the release of the hold. If it doesn’t the bank would reverse it the next day..or if they don’t catch it, as soon as its obvious.
This is not new. And it has been litigated to death with the regulators and the banks and every consumer advocacy group known to man.
If this happens at a gas station you frequently use—tell them to get another card processor. That’s where the problem lies—not your bank and not the gas station.
This is a prepaid card. We put $400 on the card at the beginning of the trip. Before we swiped the card, there was about $80.00 left on the card.