Comment by carlosjobim
17 days ago
> Others have said it but I will pile on as this is dangerous misinformation.
Was that an introduction to the rest of your comment?
Explain to me please how a dispute with a vendor on a purchase makes a difference for your ability to pay rent? If the purchase was not fraud, then you have used that money anyway with your purchase. Unless you're planning to pay rent by bartering your Amazon order.
If you're instead talking about a stolen or cloned debit card, then that money is refunded usually as soon as you've made a police report and sent it to the bank, which is a matter of two days at most. The paperwork is not difficult, because cards get stolen and cloned all the time.
But the fraud protection is the same, even if procedures and timelines might differ.
> But the fraud protection is the same, even if procedures and timelines might differ.
I wrote about outright fraud taking weeks (in one case, months) to resolve. From my own personal direct experience.
> I had a friend who doesn’t even have a passport dispute an ATM transaction in a country he never visited.
Does this sound like a dispute with a vendor or outright fraud?
A dispute with a vendor can also mean an overcharge or something like a renewal fee for a yearly membership that is under dispute. It's not just marginal items you bought and the vendor refuses a return or it never shows up or whatever.
Like I said - if you are a highly paid professional you likely will never have a problem with this. It's an invisible part of the economy to you. If you are working class you are much more likely to have a wildly different experience. Banks have what is effectively an internal credit score system for each customer. For those with serious assets with the bank you get a lot more leeway and benefit of the doubt until you start abusing it.
Please spare me the "working class" appeals. You don't know anything about me, and I don't know anything about you.
I've had my own bank account emptied by card cloners. And the bank reimbursed the money swiftly after having made a police report. The same for everybody else I know who have fallen victim to the same. None of us with any kind of impressive assets when it happened.
As for disputes with vendors, sure, I give you that there is a difference in time frame when paying by credit instead of debit.
A cloned or stolen card should never take weeks or months to resolve. In that case, you've been the victim of a criminal bank. It's not the experience for most victims, whether rich or poor.