Today is Sunday, 17th November 2024

CT: Cash and Debit Card Not The Same at The Pump

From the Republican American:

Using a debit card may sometimes be the same as paying in cash, but not at the gas pump.

Banks for years have told consumers that debit cards are similar to using cash for purchases because the money is withdrawn directly from your account. But now that the state legislature has approved a bill allowing franchises of major oil companies to offer discounts for paying in cash, customers will soon find out debit cards and cash are not quite the same.

The legislature acted in hopes that the discounts would help lower gasoline prices by 10 to 12 cents per gallon. The average price of regular gasoline in Connecticut on Friday was a state record $4.364 per gallon, according to AAA and the Oil Price Information Service.

Dan Schiavone, owner of independent retailer Dan Mart at 25 North Main St. in Beacon Falls, has offered customers an 8-cent-per-gallon discount for paying in cash for gasoline since June 3. He said Friday he has often had to explain to customers that using debit cards and checks is not the same as paying in cash. “A lot of people have asked me that,” he said.

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