Can I get screw&d if I accept a credit card payment on a BIG purchase?

[Cybordolphin]

I have a customer from Indonesia who wants to use a credit card to make a $50,000 purchase with me. If the credit card turns out to be stolen (not sure I trust the buyer), can I get screw&d? Once the card company pays the funds into my merchant account and I ship, can the credit card company come back to me later, or am I protected at all?

Just curious if anyone knows the laws/rules surrounding a merchant who allows a buyer to use a credit card to make a purchase and later the card turns out stolen.

Want to make sure I am protected.

Thanks!

 

[andrepatton]

why dont you call the credit card company, tell them your situation, and ask?

 

[Nocturnal]

ROFL!!! You're gonna get served/owned suckah if you take that payment. You have to be out of your mind or joking if you're gonna take that kinda payment from some guy from Indonesia. I have a bridge over in New York I want to sell to you.

 

[MAME]

You do realize that you're asking a forum full of people who are lie half the time about this stuff anyway, right?

That said, you are totally safe from the new "Overseas Protection Policy" that was instituted in 2002. It clearly states that if you send the product first, and they don't pay the exact charge, the US government will pay you twice as much.

So send ASAP

 

[DaveSimmons]

Just curious if anyone knows the laws/rules surrounding a merchant who allows a buyer to use a credit card to make a purchase and later the card turns out stolen.

The merchant loses the funds when the credit card company reverses it on behalf of the real card owner.

Assuming the card is stolen, you ship the goods to an address, someone takes the goods and disappears, you have no goods and soon no money.

Existing protections are for buyers, not sellers.

 

[Nocturnal]

You seriously have to be out of your freaking mind if you go through with this. I'd suggest ONLY selling to people in the United States or from whatever country you are from. Much less risk invovled. I'd say no to ANYONE saying they are from Indonesia and would like to buy my high priced item.

 

[KK]

I'd be requesting payment in gold.

KK

 

[MillionaireNextDoor]

Originally posted by: KK
I'd be requesting payment in gold.

KK

Or a suitcase 'o cash

 

[Freejack2]

It's a sucker bet. You could always tell them you have to wait 6 months for the cc payment to clear before you'll ship.
I'd say don't ship unless you have a surefire way of making sure you won't get screwed later.

 

[kranky]

I wouldn't waste 5 minutes looking into this. It's a definite scam, and you'd have no protection.

Let me guess, it's not a repeat customer, right?

 

[StageLeft]

I'd only accept an international cashier's cheque and hold it for 10 days.

And then I still wouldn't do it. You're definitely getting scammed.

 

[kami333]

For that much money, wire transfer.

 

[woowoo]

Originally posted by: kami333
For that much money, wire transfer.

I would not trust the wire either
Run Away........
Run Away........

 

[Hammer]

Originally posted by: kami333
For that much money, wire transfer.

agreed. to an overseas account. then wire it out, and close the account.