Debit card holders at a disadvantage
Published on: Tuesday, September 01, 2015
Selangor: The next time you drive up to a petrol pump and want to use your debit card, make sure you have more than RM200 in your bank account. Most consumers are apparently unaware that RM150 or RM200 is held by the bank when they use their card at petrol pumps. The money will be returned minus the purchase amount after the transaction is cleared, usually within three days.Malaysian Consumer Protection and Welfare Board president Datuk Seri Dr Saharuddin Awang Yahya was unaware of the policy but said it was unfair to consumers. "Banks have no excuse to do this as a debit card is directly linked to peoples' savings accounts and it should function like cash," he said."The policy of pre-authorisation and holding of funds makes it more like a credit card." Among consumers echoing his disagreement was a nurse, Amira Ramdan, 29, who said what the banks were doing made getting debit cards pointless.
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"People get debit cards to have better control over their finances, not to spend more than they expect," she said, admitting she was also oblivious to the practice. Housewife Soon Cheng felt this was a problem that affects the middle-class most. "The middle-class would be really affected by this I think, as they can't regularly afford to have RM200 missing from their accounts," she said.Architect Ramesh Seshan said he was confused by the practice."I normally use credit cards at petrol stations so I know of this policy but to have the same thing applied to debit cards doesn't make sense, why can't the exact amount be deducted straight from your account instead?" he said.Pilot Aliaa Syamim was surprised the bank was holding their customers' money. "What happens if I only had exactly RM150 left, does that mean I cannot buy fuel using my debit card because I need a minimum balance of RM200 in my account?"
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Housewife Ida Nadirah was concerned about how this policy could affect middle-class citizens. "If the person just have enough money in their account and the bank withholds the whole sum after he buys fuel in the morning, what is he going to survive on for the rest of the day?" she asked.
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