Q: I lately began utilizing Fb Market to promote undesirable home items. I ask to be paid in money, and thus far have had no issues. I even have a repair-oriented small enterprise, and lately received set as much as settle for bank card funds.
Is there any hazard or danger in accepting bank card funds for private gadgets offered on Market, as properly?
A: Completely, there’s a hazard!!! Beneath federal regulation, shoppers have 60 days from the date of their assertion to dispute a fraudulent or faulty cost. So if anybody shopping for your stuff by Fb is utilizing another person’s bank card data with out authorization, the proprietor of that card can dispute that cost.
As soon as the bank card issuer investigates and determines the transaction was fraudulent, the transaction might be reversed and the cash might be reclaimed from you.
Sue McConnell, president of the Cleveland Higher Enterprise Bureau, provides this:
“Sure, there’s the danger of getting stolen/fraudulent bank card data as fee. These transactions might be in particular person, so he might ask to see different types of identification together with the bank card.
“Chargebacks are additionally a risk after the sale,” McConnell stated. “If a stolen/fraudulent card is used, (the vendor) might be out the cash, plus the merchandise, and will get socked with different charges from (the vendor’s) fee processor/financial institution.”
Observe that Visa and MasterCard insurance policies enable retailers to ask for photograph ID, however they will’t require it as a situation of processing the transaction except the bank card isn’t signed or except fraud is suspected.
By the best way, it’s additionally not protected to just accept cashier checks for funds, except you go to the financial institution with the client and watch the examine being issued. There are method too many counterfeit checks on the market and so they’re so authentic-looking that authorities usually can’t inform they’re pretend.
Q: I’m positive you’re conscious of the various troubling issues with the administration of the Cleveland water division. Lengthy story quick, I lately offered my dwelling in Cleveland Heights and moved to Idaho. I’ve an $83 detrimental stability on my water account.
I’ve known as many occasions and spoken to many individuals about receiving a refund, solely to be advised that my financial institution should ship a replica of my canceled examine to the water division. I made the fee electronically on the water division’s web site. There is no such thing as a (paper) examine.
Thoughts you that if I log in to my water division account, it exhibits that I’m owed cash. But someway they need “proof” of my overpayment.
I’ve spoken to my financial institution, Fifth Third, and they’re flabbergasted on the request. As a result of I made an digital fee, Fifth Third has no canceled examine. Fifth Third did fax the water division data on my fee.
This all took place as a result of I by chance overpaid. Are you able to assist? Please?
D.M., Fruitland, ID
A: Oh, the mind-numbing billing antics of the water division which have annoyed so many purchasers over time.
In your case, I contacted water division spokesman John Goersmeyer. Inside a few days, your refund was being processed. “We sort of messed it up just a little bit,” he stated.
The division does require a replica of a canceled examine for funds made by examine, Goersmeyer stated. That is coverage as a result of, in some instances, funds are made on the accounts of people who find themselves behind on their payments by another person, like a beneficiant relative or a church. If there was an overpayment, the water division desires the refund to go to the one that really made the fee, who will not be the account holder. That is sensible.
However prospects who pay by the water division web site usually don’t must show fee, he stated, as a result of the supply of fee is hooked up to the account. In your quite a few conversations with the water of us, it didn’t appear they understood this coverage, Goersmeyer stated.
Certainly one of my favourite water division face-palm tales was in 2010 when a buyer had $800 being withheld by his title firm after he offered his dwelling. He was awaiting the ultimate water and sewer payments. He waited 4 months earlier than contacting me. The water division then stated the invoice was despatched the day I contacted them, but it surely wasn’t. They stated per week later it was despatched once more, but it surely wasn’t.
It seems the continued delays have been brought on by — look ahead to it — the truth that though the water division had accomplished a ultimate studying, there was additionally an estimated invoice. So the division didn’t know which was right. Due to this fact, it didn’t ship any invoice, regardless of your complaints.
I’m glad that didn’t occur right here.
To succeed in Teresa Murray, e-mail firstname.lastname@example.org or name or textual content 216-316-7064. She can’t reply to all queries or feedback. Earlier columns on-line: http://cleveland.com/moneymatters. On Fb: MurrayMoneyMatters. On Twitter: @teresamurray.