Why you may see a temporary $1 charge on your account
When signing up for Rocket Money’s Bill Negotiation service, you may notice a $1 authorization charge on your account. This is not a fee, it’s a temporary hold to verify that your debit card is valid before we begin negotiating your bills. This is only a temporary hold on your debit card and will be automatically released, you should see this charge drop off from your bank statement typically within 3 - 5 business days depending on your banking institution.
Why was I charged $1?
Rocket Money requires a valid debit card on file to process savings fees if we successfully lower your bills. To confirm your payment method, we place a temporary $1 hold during signup.
If your payment method is valid, the hold is automatically released
If your Bill Negotiation is successful, you'll receive a confirmation email with exact fee details. You can request a payment plan by responding directly to that confirmation email within 48 hours.
If we are unable to reduce your bill, the $1 hold will be released and you won’t be charged anything further
Frequently asked questions
Is the $1 charge permanent?
No. It’s only a temporary hold to verify your debit card as a payment method should your Bill Negotiation be successful and will be released automatically.
When will the $1 hold disappear?
In most cases, the authorization hold is released within a few business days, depending on your bank.
Why does Rocket Money need my debit card?
Your debit card is required to securely process fees if we successfully lower your bills. Without a valid card on file, we cannot complete your Bill Negotiation.
Will I be charged if Rocket Money can’t lower my bill?
No. If we are unable to negotiate savings on your behalf, the $1 hold is released and no further charges are applied.
How will I know if my bill was successfully negotiated?
You’ll receive a confirmation email with the exact savings amount and the associated fee.