Is this fraud?

[BensonTT]

I bought something out of China for $139usd but they charge my card $155usd.. I emailed them to ask wtf and they said my my credit card comapany added the extra charge. I knew it was a lie but wanted to confirm so I called them and they said they didnt.. I can file a dispute for the difference right?

[Swank]

I would, and send a copy of that email to your credit card company as well as any other supporting documents about the original purchase price.

[BensonTT]

^ am gonna wait for the item to arrived first and see if its even as described then will contact my bank to file the dispute.. Thanks man

[adam c]

CC companies charge you for conversion and exchange rate, so it's possible

[Mitsu3000gt]

Has the charge posted yet, or do you just see it pending? Often there is a significant difference.

The most your CC would charge is an extra 2.5%-3.0% on the exchange rate from USD to CAD.

[BensonTT]

^^ But I called them and they said they didn't.. It was suppose to be $139 usd so it should be around $182cad but my online statement says $211 which is around $155usd few days ago.. The seller didn't even denied it so I think they were the one that charged me more..

[Rocket1k78]

Originally posted by adam c
CC companies charge you for conversion and exchange rate, so it's possible

This, i bought a helmet off ebay and according to ebays conversion it shouldve been $838 but on my cc they charged $878

[Joe-G]

Did you pay through paypal? Or provide your CC details?

The CC conversion charge and FX rate difference would make sense.

If you paid through paypal, take a look at their FX rates. Even if the dollar is around 1.32 paypal always seems to convert closer to 1.4 for me.

[BensonTT]

I know it's not a lot of money but I feel cheated lol

[BensonTT]

Originally posted by Joe-G
Did you pay through paypal? Or provide your CC details?

The CC conversion charge and FX rate difference would make sense.

If you paid through paypal, take a look at their FX rates. Even if the dollar is around 1.32 paypal always seems to convert closer to 1.4 for me.

I paid by Mastercard

[Thaco]

every processor has different rates for a currency exchange fee

For example most banks you pay 4% above the currency rate
credit cards is normally 2.5%
paypal is usually around 4%

so if exchange is $1.30, dont be surprised if you pay $1.34

it does seem like its a bit high of an exchange, if it was billed in USD your bank should be able to tell you the pre-conversion price in USD.

[Thaco]

this is how mine looks on my credit card account

[pheoxs]

Originally posted by Thaco
this is how mine looks on my credit card account

What matters though is does his receipt match the USD amount? Any fees should be added to the exchange rate, but the USD amount, 79.81 in your case, should match the receipt.

I think what he is saying is the purchase was 75USD, then 79.81USD showed up on his CC and then all the exchange fees were on top of that.

@OP I'd wait until the item arrives then just dispute it with your credit card company. Also be wary in the future, if a company is willing to commit fraud and overcharge you, its entirely possible theyll keep your credit card info on file and sell it a few months down the road.

[BensonTT]

^^ yes that is right.. my invoice receipt says $139usd BUT they actually charged my card $155usd.. I don't think this has to do anything with conversion rate.

[Thaco]

Originally posted by pheoxs


What matters though is does his receipt match the USD amount? Any fees should be added to the exchange rate, but the USD amount, 79.81 in your case, should match the receipt.

I think what he is saying is the purchase was 75USD, then 79.81USD showed up on his CC and then all the exchange fees were on top of that.

@OP I'd wait until the item arrives then just dispute it with your credit card company. Also be wary in the future, if a company is willing to commit fraud and overcharge you, its entirely possible theyll keep your credit card info on file and sell it a few months down the road. yeah i figure thats what he is saying, but he hasn't confirmed the actual amount charged by the merchant. He's just saying he thinks he was charged too much.

[Thaco]

Originally posted by BensonTT
^^ yes that is right.. my invoice receipt says $139usd BUT they actually charged my card $155usd.. I don't think this has to do anything with conversion rate. yeah then thats definitely the seller not the conversion or credit card.

you can put in a chargeback with your credit card company once you verify the items and stuff (just to make sure you wont be doing a full return or something anyway)

[BensonTT]

This is the first time that this have happened to me so I was kinda shocked.. kinda scary that they can charge whatever they want without your authorization..

[Mitsu3000gt]

^^ They can't. If they did your CC company will have your back (unless it's BMO in my experience).

[flipstah]

Forex rate for credit cards won't match spot rate + associate forex fees so that could explain the discrepancy.

[BensonTT]

Originally posted by Mitsu3000gt
^^ They can't. If they did your CC company will have your back (unless it's BMO in my experience).

Lol I am actually with BMO.. What happen?

[realazy]

Doesn't your statement include the fx rate? Anytime I have a FX transaction the statement (not the online web transaction view) will show it. I have a TD credit card.

Wait until your statement is generated and check.

[Mitsu3000gt]

Originally posted by BensonTT


Lol I am actually with BMO.. What happen?

I had a fraudulent CC charge from Nigeria (does it get any more obvious that it's fraud than that?) At a time when I had other transactions in Calgary on the same day, and obviously had not been traveling to Nigeria (or anywhere for that matter). They basically said GFY and I had to pay it. I immediately cancelled my two BMO cards, closed accounts, and ended all associations with them after being a customer for almost a decade. I did not renew my mortgage with them either.

The charge was $55 - something I imagine is well within their "who cares, just cover it" range but they screwed me over anyway. If there was even the most remote chance I could be responsible, I would understand, but in that case there was a 0% chance I could have made that charge. Their refusal to help me with a) the most obvious fraud ever and b) such a small amount of money, had me absolutely terrified because if that had been a more significant sum of money I would have been completely screwed. After that incident, I'd be an idiot to have any financial association with them whatsoever. I was lucky enough to see how they handle fraudulent charges before I got nailed with something significant, so I am thankful for that at least.

In contrast, Capital One Mastercard has bailed me out of $9,000 of fraudulent charges in Vegas of all places, at the same establishment I was actually at during the time of the fraud, so my story was *far* less believable and not at all provable. They just took my word on it basically and saved me from $9000 in fraud and an enormous amount of stress. Phenomenal service.

[BensonTT]

^^ Oh man that sucks.. Cant believe they would rather lose a customer then $55 :thumbsdow

[Mitsu3000gt]

Originally posted by BensonTT
^^ Oh man that sucks.. Cant believe they would rather lose a customer then $55 :thumbsdow

Yeah it was very disappointing, not to mention frightening, considering how much worse it could have been (what if it was $15,000 not $50?). And if they aren't covering Nigeria fraud, what in the hell DOES qualify? haha. Hopefully it was an isolated experience but it's all I had to go on so I had no choice jump ship given my experience.

[ercchry]

The only thing bmo does that bugs me is freeze my card when they suspect its been compromised.... and not tell me they did it!!!

Never had an issue getting charges reversed though