There may be an authorization hold or an automatic tip applied to verify and guarantee funds for certain purchases such as gas, reservations, and hospitality visits. These types of authorization holds and purchases are common by most debit card providers.
An authorization hold is applied with your debit card that triggers what looks like a deduction of the purchase price from the funds available to be debited. The money is still in your account; however, the amount of the authorization hold is restricted from use. This procedure ensures that the funds necessary to complete your purchase remain available until your purchase is complete. Upon completion, the funds are deducted from your Save® Debit Invest account. Most debit card authorization holds last for about 2 business days.
When spending at a restaurant or nail salon, LendingClub Bank will apply an automatic 20% tip on your behalf.
For hotel and car reservations there will also be an authorization hold as part of your reservation that will drop once your reservation is completed. For these authorizations, a hold may remain for up to 7 business days depending on the merchant.
There is no way for Save to remove an authorization hold or for a preset tip amount to be changed.
Below is a visual of these authorization holds and tip amounts.
For any additional questions, please contact customer support.
|Merchant Type||Upcharge Value|
|Gas Authorization||A gas station may specify a minimum authorization amount at the pump. If none is stated, Save® will apply a $50 authorization hold.|
|Hotel Authorizations||15% upcharge value|
15% upcharge value
|Restaurants||20% automatic tip|
|Nail Salons||20% automatic tip|