With the holiday season upon us, many people including myself will be heading to grandma's house to spend time with family. On the way out of town, people usually like to fill up their gas tanks and maybe grab some treats for the kids and themselves. I, like many, will stop at the gas pump, where I will be presented with a simple question: Pay Inside or Pay Outside? The question may actually be more difficult than it looks.

First, let's look at the option of Paying Inside. Once you have selected the "Pay Inside" button at the pump, you will be able to fuel up your vehicle, and after fueling up you will need to walk inside to see the convenience store attendant. The attendant will then swipe your card and give you a receipt for the amount owed. In this case the amount held on your account will be the actual amount of the purchase.

Let's not forget about the other option you have, Paying Outside. After swiping your card, the pump will then authorize your card. Once you have completed fueling up your vehicle a receipt will be printed for your transaction. What you are not going to see on your receipt is the temporary hold that is being placed on your funds. Some convenience stores have a sign stating the hold will be place on your account, others do not. The hold placed on your account is the result of the surge in gas prices earlier in the decade. Many people were filling up and driving off without paying. The hold is to ensure that the convenience stores will get the money for the transaction since you will not need to enter the store. The hold originally started at 50 dollars, but now has been raised to 75 dollars. This is very similar to the hold that is placed on your account when making hotel reservations. The money is temporarily held; you will only be charged the actual amount owed. The hold on your funds can last up to 3 days before it's released.

The answer to this simple question leads one to ask; what is the cost of convenience? It also may be the difference of having the available funds in your checking account or credit card when stopping for those last minute gifts.

Brian Goblirsch, Operations Department