3 ms·

Your experience depends on the bank issuing CC, there are good and bad ones. The cheaper / no annual fees ones also generally have poorest service, the best exp

Your experience depends on the bank issuing CC, there are good and bad ones. The cheaper / no annual fees ones also generally have poorest service, the best experience I have had is with AMEX. Even without any actual thefts I have had rollbacks go through smoothly no questions asked, the onus is on seller to prove service was rendered. Crypto world has little recourse for any sort of fraud, people rarely keep money on their own wallet, it is usually a wallet managed by the exchange which are vulnerable to technical hacks, frauds and scams and are just as bad or worse than a bank when it comes to service. Even if you keep your money in your own cold private wallet, the private key can be easily lost, so many stories about millions of dollars in BTC locked forever with private keys misplaced.

notch656a 5y ago
> the onus is on seller to prove service was rendered. The issue I have seen is the fraudsters set up their own e-bay store (they set up a second account with a fake you as the customer), and then e-bay is very agressive about defending any charge backs. Even when e-bay knows a store is a fraud, they will agressively defend any charge backs to that store, even when they themselves have shut that store down for fraud. You're not just defending yourself against fraudster, you're defending yourself against an extremely powerful corporation with experts that have boilerplates that drown the bank in 'proof' that the service is rendered. E-bay has officers who generate a lot of paperwork that exactly walks them through the legal requirements they need to stall and fend off chargebacks from the bank and in practice the bank doesn't have the patience to overcome this. The fraudsters seem to have evolved to either provide the compliance officers the exact information they're looking for, or formed some weird symbiotic relationship where it's easier for them just to go along with the fraudsters than fight it. You'll be shocked at how convincing they are in 'proving' the service was rendered. After 24+ hour on the phone with a bank, months of formal processes and claims/appeals, and continual mocking by the bank you'd be surprised at just how much money they will invest in making it unprofitable for you to get your charge reversed. Hell just _initiating_ the chargeback took me half a working day -- how many people can spare that ? I only did because I had the day off to move. In short, e-bay has evolved a legal team and process with extensive and expert experience in absolutely steamrolling chargebacks and they use the full force and power of a massive well of knowledge, human labor, and funding they have in this area to crush you, with little regard for the veracity of your purchase. > people rarely keep money on their own wallet Well I do >the private key can be easily lost It's actually not that hard to memorize a cold storage seed, and you definitely won't forget it if you have money on that account. Hard to lose that and impossible to steal. But sure it's true, crypto is fraught with fraud and misplaced keys, as well as DeFi hacks and all sorts of other issues.

notch656a 5y ago

> the onus is on seller to prove service was rendered. The issue I have seen is the fraudsters set up their own e-bay store (they set up a second account with a fake you as the customer), and then e-bay is very agressive about defending any charge backs. Even when e-bay knows a store is a fraud, they will agressively defend any charge backs to that store, even when they themselves have shut that store down for fraud. You're not just defending yourself against fraudster, you're defending yourself against an extremely powerful corporation with experts that have boilerplates that drown the bank in 'proof' that the service is rendered. E-bay has officers who generate a lot of paperwork that exactly walks them through the legal requirements they need to stall and fend off chargebacks from the bank and in practice the bank doesn't have the patience to overcome this. The fraudsters seem to have evolved to either provide the compliance officers the exact information they're looking for, or formed some weird symbiotic relationship where it's easier for them just to go along with the fraudsters than fight it. You'll be shocked at how convincing they are in 'proving' the service was rendered. After 24+ hour on the phone with a bank, months of formal processes and claims/appeals, and continual mocking by the bank you'd be surprised at just how much money they will invest in making it unprofitable for you to get your charge reversed. Hell just _initiating_ the chargeback took me half a working day -- how many people can spare that ? I only did because I had the day off to move. In short, e-bay has evolved a legal team and process with extensive and expert experience in absolutely steamrolling chargebacks and they use the full force and power of a massive well of knowledge, human labor, and funding they have in this area to crush you, with little regard for the veracity of your purchase. > people rarely keep money on their own wallet Well I do >the private key can be easily lost It's actually not that hard to memorize a cold storage seed, and you definitely won't forget it if you have money on that account. Hard to lose that and impossible to steal. But sure it's true, crypto is fraught with fraud and misplaced keys, as well as DeFi hacks and all sorts of other issues.