Coin Meter has a pre-authorization process on credit and debit card transactions. This pre-authorization process will save you money in the long run but may cause confusion. This is because a small ‘pending’ fee is charged on your card until the final charge is processed. We use this process to minimize fees with the bank. Please read through the process to see how these transactions will occur on your credit/debit bank account.
These are the steps for pre-authorization on your bank card:
1) When you start a machine, your card will process a pre-authorization.
Even though you will ultimately be charged ONLY for the amount spent on laundry, your credit/debit card will be pre-authorized for two wash cycles when you start a laundry machine.
2) Each pre-authorization, or pending charge, is good for 3 hours.
The issuing bank may display this as pending, pre-authorization, or use some other wording. After 3 hours, the exact amount spent on laundry will be reported back to the issuing bank.
3) You’ll ONLY be charged for the actual amount spent on laundry.
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.
4) Your bank may take 24-72 hours 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.
5) You may also see a second pre-authorization on your account.
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.
Thank you, we appreciate your business!
Again, please be patient and allow the pending bank charges to settle – you will only be charged for the actual amount you spend on laundry. Due to the size and frequency of typical laundry transactions, this process is necessary to save you fees. Coin Meter values your business, and is here to help you make your laundry tasks quick and easy.