When a card is swiped or tapped at a gas station, an authorization hold is placed. After fuel is dispensed, the final amount is calculated based on the fuel volume, taxes, and fees.
Forma, adhering to industry standards, will place a $100 hold on the Forma Card and handle the transaction based on whether it is “controllable” or “non-controllable”:
Category 1: Controllable Transactions
Forma will approve the amount based on your available balance.
- Example 1: If your balance is over $100, Forma will approve up to $100. For a $50 gas purchase, $50 will be refunded once the hold is released.
- Example 2: If your balance is $25, you can purchase up to $25 in fuel, and the pump will stop.
Category 2: Uncontrollable Transactions
Forma will check your balance before approving the transaction.
- Example 1: If your balance exceeds $100, Forma will approve up to $100. For a $50 gas purchase, $50 will be refunded once the hold is released.
- Example 2: If your balance is under $100, Forma will decline the transaction. To use your Forma Card, you will need to go inside the station and request fuel for the exact amount or less. The transaction should then be approved.
Refunds on the hold amount are typically processed within 1-2 days.