Quote:
Originally posted by Kimmykim
Rumors abound... 2% 'chargeback' rate for checks coming down the pipe from the Fed...
I DO NOT know that it is true, just that I have heard it.
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*slams head on desk repeatedly*
Why do these people keep fining the merchants for fraud perpetrated by the customers???
Everyone I've seen talking about accepting checks hold that the fraud on them is about 30% - and by the time the check does come back fraudulent the guys has already been in your site downloading everything for a week.
Dropping back to a 2% cap on bad checks is even more insane than Visa's 1% - I'm just not understanding the thinking of these people whatsoever.
Do they HONESTLY believe that all of the customers are 100% pure innocent angels and it's ONLY the webmasters/merchants who are fucking people over?? We have NO control over whether some scammer is typing in bad check info when he's sitting on our join form...
excuse me while I go slam my head on the desk some more. Maybe I'll dumb myself down enough to be on the same level as these idiots.
*sigh*