If you’ve started a Coin Meter machine with your credit card, you’ve gone through our machines’ pre-authorization process. This pre-authorization process will save you money in the long run, but could be confusing. Here’s some information about this process that you’ll find helpful:
This process occurs with card transactions at the machine.
Anyone who starts a machine with a credit or debit card will begin the pre-authorization process. We use this process to minimize your fees, which is due to the nature of how banks charge for small transactions.
You’ll see a ‘pending’ fee.
Your credit/debit card will be pre-authorized for two wash cycles when you start a laundry machine. A small ‘pending’ fee is charged on your card until the final charge is processed. The issuing bank may display this as pending, pre-authorization, or use some other wording.
Don’t worry, you’ll only be charged for the actual amount spent.
The charges that will be processed by your bank are the actual amounts that you spend on laundry. Until the actual charges are settled,the charges will show at the pre-authorization amount.
The pending charge is only good for 3 hours.
After 3 hours, the exact amount spent on laundry will be reported back to the issuing bank. It may take your bank 24-72hours to finalize those amounts. Bank regulations dictate how long it takes to reconcile transactions, and Coin Meter doesn’t have the ability influence your bank’s policies. Please be patient and allow the charges to settle.
You may see a second ‘pending’ fee.
If you spend more than the pre-authorization amount, a second pre-authorization will be made. It may help to minimize the number of pre-authorizations if you start the dryer cycle within 3 hours of starting the washer cycle.
Again, you’ll only be charged for the actual amount you spend on laundry, and we chose this process in order to save you fees. And thank you for your business! Give Coin Meter a call with any questions about this or the equipment, we’re here to help you make your laundry tasks quick and easy.