Hey Guys I want to share something really interesting that happened with an online purchase that really gives a shit load of support to my theory that the banks are behind the scenes engaging in subtle and not so subtle forms of fraud to cover their short positions!!!
Before you flame or insult know that I am not angry today or bitter, I am trying to illustrate a sound assertion with facts and actual details. Here is the story..
On april 9th 2012 We made an online purchase for a camera battery. We entered credit card details, submitted payment, order was approved and we received confirmation of order and shipping time frame.
Now Immediately after the purchase as we do with all online purchases we verify every transaction, and we log into our online banking and the $18.99 for the camera battery was deducted from our available balance and right next to the deduction was the name of the company who sold us the battery.
Right everything normal so far?
Well the batter was scheduled to arrive on april 10th or april 11th and it never showed up.
On april the 17th ....nine days after the transaction was approved and funds deducted we receive the following email from the company...
"Hi, Thank you for placing an order with EastCoastPhoto.com.
We would like to ship the order out however there seems to be a problem with the credit card number or expiration date provided. Please verify the numbers and advise necessary changes.
Please respond ASAP so we can process your order promptly."
So we respond excuse me but you guys are making a mistake those funds were taken out of our account, and we were given a confirmation that payment was received and order was getting shipped out.
Mean while that money is still missing from our account.
So on april 19th we see a weird transaction in our bank account that was labeled a "card purchase return" and it was a deposit of the full $18.99 for the battery we ordered 10 days earlier!
So lets recap...
We made an online purchase as a customer and a *APPROVAL* was given to us by the bank for the transaction, funds were taken from the account.
Merchant never received our payment, and we never received our product.... Case and point a 3rd PARTY SOME HOW FUCKS OVER A VALID MERCHANT AND VALID CUSTOMER where the customer does not get what he/she ordered and the merchant does not get PAID for what they sold...
and the best part of course is the 3rd PARTY HELD THOSE FUNDS FOR 10 DAYS to do who knows what or to cover a short position somewhere!
Now we call the bank today and ask for a logical explanation and the bank rep says this...
"Wow I am floored, that is soooo weird I have never seen that since I have been in banking, I honestly do not know what to tell you but I do not blame you for watching your transaction like that"
So could there be a connection that accurately reflects whats been happening on many occasions in our world of adult with weird transactions...sproratic chargebacks, approvals turned into denials, denials turned into approvals,etc.
I already know what I know and this is just another of dozens of examples that I lay out as to why we need oversight, transparency, and verification with any financial institue and quite frankly we need a billing over haul
This is outside of adult and it is the same thing we experience almost daily now. Customer has funds and wishes to transact...merchant has goods and services and wishes to transact... 3rd party who ***PROCESSES*** transaction holds money in limbo for days while merchant and customer get screwed and 3rd party covers their short position at the behest of everyone else!
This is 100% truth we observe this as customers and merchants, and its only getting worse, and the very ones who have done the damage to the industry are the very ones trying to dictate,control,and regulate every facet of transacting in the industry.
Disclaimer I did not start this thread to cause drama, or attack anyones company as no names have been mentioned.
My sincere intent was to help try and show a pattern and a possible connection as to why it is becoming harder and harder to transact online for everyone and how a 3rd party could potentially take your money as a customer and use it while you wait for a product that will never come.
And of course the conclusion of the conversation with the bank rep was this..."I am sorry to not have any explanation as to why that happened" ............LOL
They never have an explanation so we have to figure it out for ourselves and when you do figure it our for your self they get extremely upset and uncomfortable because only they are supposed to be cunning and creative with the chicanery.
So we have to go and re order the product and hope this does not happen again but in the mean time you have been informed about a clever technique that you may not have been aware of. Thanks for your time
