don_resqcapt19 said:
There are a number of other problems such as a the
"hold" placed on your debit card by some gas stations, hotels and rental card companies. These "holds" can result in overdraft charges.
Yes, they sure can! I had that out with our old bank, and got our charges reversed, then we changed banks to one that doesn't deduct charges until they actually post. To me, if the bank is not going to credit a deposit until it actually clears, they shouldn't deduct a purchase until it clears (or "posts" to) your account.
The old bank's response is that it's not fair that we get to leave the store with our merchandise and the money stay in the account for 2 or 3 more days. I countered with saying that, if the bank doesn't have to give up the money until the charge posts, then what happens before that is between us and the store.
Besides, when you use a card to secure a car rental, but actually pay with cash, they still deduct the charges from your account, and don't credit it back in until the end of the month, when the charge does not appear in that month's business. In my opinion, it's not fair to charge us overdraw fees if the money is never deducted.