How the banking system is moving forward at top speed
Old and Grey said
01:38 PM Aug 15, 2020
Hi everyone,
Old and myself have noted how the Banks and Retailers are processing the card transactions now.
In the past if you were paying by credit card over Saturday /Sunday weekend, all those transactions would go through on a Monday.
Not Anymore. We started watching our cards more closely six months back after we noted our credit card had a few small amounts debted on our statement, Call it a test run by the Oversea's hackers who run number sequences till they get a hit.
They bill your a/c as a test for $1.25US plus a transaction fee and wait. then a week later $7.84US plus a transaction fee. Then it grows.
I throught it was just Old buying online books and stuff. Allways Zoom Music, or Pop Music odd names Till I asked Old what she was buying.
Not me, she said. Rung the bank and They put a stop on both cards.
To cut a long story short. The banks credit card fraud team blamed us. Till we asked for their proff purchase's. Every transaction would go through on a weekend.
We wrote Via email, direct with the head of banking to get it fixed. The Bank came to the party in the end, and fixed our account.
We now check our accounts every day for any discreptancies.
When we use the Credit card at the chemist / Hardware store etc. The amount is on our internet account, by the time we arrive home. Last week took 17 minutes, and we pay the current balance right away.
How the times have changed.
It seams to us that the Banks want that money flowing ASPA.
Old & Grey
Mamil said
06:25 PM Aug 15, 2020
I was victim of similar fraudsters. They put one US dollar through to check if it would succeed, then next day hit my account for 20,000 roubles, no slow ramp-up in my case!
Bank didn't blame me, reimbursed all the money immediately, including the US$1.
Changed cards and passwords and it hasn't been repeated.
I traced the fraud to a Chinese seller I tried to buy a laptop battery from. I paid by PayPal, didn't give them any bank details, so thought I was safe, but somehow they still got access to my bank account. Paypal also refunded the cost of the battery no questions asked, although their initial response was that they were a bone fide merchant with an account with them. However, when they didn't reply to their queries they just closed their account to further transactions. It seems this is so common nowadays they don't waste more money or effort trying to chase down the culprits, they just wear the loss and treat it as a cost of doing business.
So, agree with Old & Grey, the moral of the story is to keep an eye on your bank statements and alert the bank as soon as even tiny amounts of money go out unexplained - in fact especially if tiny amounts go out!
Tony Bev said
10:33 PM Aug 15, 2020
Thanks for that info, Old & Grey, and Mamil
Lozza56 said
10:01 AM Aug 16, 2020
Banking fraud correct, my brother got done the exact same way. Handy hint to STOP this, go into your card settings through internet banking, and click NO to overseas transactions
Problem solved. Is easy, can do it from mobile phone. Cheers
the rocket said
11:30 AM Aug 16, 2020
Do not use your cc for overseas transactions. Buy a debit mastercard from australia post and if it gets hacked they can only have what credit you have on that card. Learnt the hard way many years ago but thats a glass of wine n campfire story.
Mamil said
02:02 PM Aug 16, 2020
Lozza and Rocket, good advice indeed, however in my case the scammers didn't get access through my credit card - it wasn't involved in the process anywhere. They somehow accessed my bank account through Paypal and did a direct wire transfer to an account in Russia. I've since de-linked my bank account from Paypal and now DO actually clear my Paypal balance by credit card, the theory being that no system is infallible, and the more trustworthy parties you have between your money and the scammers, the more firewalls the scammers have to breach, and the better chance you have that one of them will reimburse you if and when you fall foul of the scammers again!
-- Edited by Mamil on Sunday 16th of August 2020 02:16:09 PM
Old and Grey said
02:59 PM Aug 16, 2020
Hi Rocket,
Old and myself don't mind a glass or three of red either. Would beat painting.
We can bring the firewood, and lots of nibbles 2x chairs. Just send us both a smoke signal, and we will put the brushes down and be on our way.
Hi everyone,
Old and myself have noted how the Banks and Retailers are processing the card transactions now.
In the past if you were paying by credit card over Saturday /Sunday weekend, all those transactions would go through on a Monday.
Not Anymore. We started watching our cards more closely six months back after we noted our credit card had a few small amounts debted on our statement, Call it a test run by the Oversea's hackers who run number sequences till they get a hit.
They bill your a/c as a test for $1.25US plus a transaction fee and wait. then a week later $7.84US plus a transaction fee. Then it grows.
I throught it was just Old buying online books and stuff. Allways Zoom Music, or Pop Music odd names Till I asked Old what she was buying.
Not me, she said. Rung the bank and They put a stop on both cards.
To cut a long story short. The banks credit card fraud team blamed us. Till we asked for their proff purchase's. Every transaction would go through on a weekend.
We wrote Via email, direct with the head of banking to get it fixed. The Bank came to the party in the end, and fixed our account.
We now check our accounts every day for any discreptancies.
When we use the Credit card at the chemist / Hardware store etc. The amount is on our internet account, by the time we arrive home. Last week took 17 minutes, and we pay the current balance right away.
How the times have changed.
It seams to us that the Banks want that money flowing ASPA.
Old & Grey
Bank didn't blame me, reimbursed all the money immediately, including the US$1.
Changed cards and passwords and it hasn't been repeated.
I traced the fraud to a Chinese seller I tried to buy a laptop battery from. I paid by PayPal, didn't give them any bank details, so thought I was safe, but somehow they still got access to my bank account. Paypal also refunded the cost of the battery no questions asked, although their initial response was that they were a bone fide merchant with an account with them. However, when they didn't reply to their queries they just closed their account to further transactions. It seems this is so common nowadays they don't waste more money or effort trying to chase down the culprits, they just wear the loss and treat it as a cost of doing business.
So, agree with Old & Grey, the moral of the story is to keep an eye on your bank statements and alert the bank as soon as even tiny amounts of money go out unexplained - in fact especially if tiny amounts go out!
Banking fraud correct, my brother got done the exact same way. Handy hint to STOP this, go into your card settings through internet banking, and click NO to overseas transactions
Problem solved. Is easy, can do it from mobile phone. Cheers
Do not use your cc for overseas transactions. Buy a debit mastercard from australia post and if it gets hacked they can only have what credit you have on that card. Learnt the hard way many years ago but thats a glass of wine n campfire story.
Lozza and Rocket, good advice indeed, however in my case the scammers didn't get access through my credit card - it wasn't involved in the process anywhere. They somehow accessed my bank account through Paypal and did a direct wire transfer to an account in Russia. I've since de-linked my bank account from Paypal and now DO actually clear my Paypal balance by credit card, the theory being that no system is infallible, and the more trustworthy parties you have between your money and the scammers, the more firewalls the scammers have to breach, and the better chance you have that one of them will reimburse you if and when you fall foul of the scammers again!
-- Edited by Mamil on Sunday 16th of August 2020 02:16:09 PM
Hi Rocket,
Old and myself don't mind a glass or three of red either. Would beat painting.
We can bring the firewood, and lots of nibbles 2x chairs. Just send us both a smoke signal, and we will put the brushes down and be on our way.
Grey