I'm not a banker, but to get it clear once and for all:
iRacing just sort of 'pings' your credit card. If it receives something back it's happy and goes away. The $1 is not taken, requested or reimbursed, it's a symbolic value for an action that has nothing to do with the transfer of money, at all.
Your bank spazzing out because of such a verification puzzles me, but I'm going to assume that it has an automated system that is not synchronized for a global market in which such verification processes are commonplace.
Change banks/cards or alternatively don't use it to buy anything out of the UK, or don't play iRacing
Have you mailed support? If you haven't then please do, and stop the speculations and conspiracy theories.
Right, it's a token gesture where in the event that a service (this instance iRacing) needs to verifies who you say you are, therefore they take a 'symbolic' dollar out of your bank account to get the details, cross match them with your entered details and then return the 'symbolic' dollar....safe in the knowledge that you are who you claim to be.
The reason for this being of 2.
1 - iRacing uses real names rather than something made up.
2 - to stop users already joined taking advantage of the deal.
or what he said.
To sum up, your issue here is with your bank, not the service.