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Shady Lane Retailers, Manufacturers, ePay, AudiogoN, Paypal or whatever. Buying and selling advice. |
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Shady Lane Retailers, Manufacturers, ePay, AudiogoN, Paypal or whatever. Buying and selling advice. |
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In Reply to: Re: Rumor has it ... posted by Seth Hensel on January 11, 2006 at 10:18:06:
I think credit card protection does apply to debit card - hence the Visa or Mastercard logo on the card. I don't know about your bank - but my Debit card is protected just like any of my other Visa's.See here is how it works - just like when writing a check. It is the responisibility of the merchant to verify the card is being used by the rightful owner by checking thier ID. If the merchant does not do that, then the merchant will end up eating the charge. See the credit card company or bank will compare the signiture on the transaction receipt against your signature on file. When they don't match, they can prove fraud and since the merchant did not check the ID, the charge gets billed back to the merchant - they eat it.
Same goes for writing a personal check - the merchant does not check the ID and it's a fraudulant check - the merchant eats it. Someone stealing your credit card is easy to deal with - someone stealing your SS# and identity - that's a whole different ball game!
(I am also in the fortune 200 financial industry - 13 years with one of the top 4 credit card issuers)
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- Re: Rumor has it ... - groove 14:04:58 01/18/06 (0)
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