Most shoppers don't realize they are in the middle of a heated debate over the fees merchants pay to banks on debit-card transactions, but the outcome may bring steeper costs and fewer rewards for consumers.
We posted yesterday about the amendment to financial reform in regards to debit card fees etc. Another article came out today with more information on this topic and we wanted to share. As consumers, this is something that you will want to follow.
Article HEREImagine sitting down to a nice lunch and as you finish you hand your credit card to the server. Obviously if you are dining in a Fraud Free establishment your card would not leave your hand, but in most restaurants this is not the case. The server runs your card, comes back and proceeds to tell you that your card has been declined. You think "that is impossible, I checked my balance last night." You pull out your Iphone and open your bank application only to find out that your account is overdrawn and has had all your money drained out of it.
What would run through your head???
Transactions in Dallas, London, Chicago, and New York and you are sitting at a restaurant in California. How did this happen?
Most people are completely oblivious when their cards are compromised. You lose your wallet, you know to cancel your accounts. You lose your laptop with all your personal bank information on it, you know to contact your bank and have them notify you for any account changes. But, when you go to pay for a meal at a restaurant, you don't know until it is too late that the server may have taken you card and swiped on a skimmer, taken pictures of the front and back of it with their cell phone, or used the thermal paper from the printer and jotted down all card information.
Most people are skeptical about giving their credit card information over the phone, but every person in the United States hands their card over to complete strangers at every restaurant that isn't Fraud Free. We post daily about new restaurants that have been hit by skimming rings as well as the people that have had their accounts drained from these rings. Every story seems to be showing sings of these rings getting more sophisticated and organized. Your card can be skimmed and used the same day if not the next day in London. Lets do something about it, we are where change starts. Lets start questioning the way that restaurant owners operate their business and handle your personal information.
www.dinefraudfree.com
(877)217-0707Call (877)217-0707 and state that you are calling about the Dine Fraud Free Challenge.
