Gold Shop Wrongly Hit My Debit Card For 16K.

[HarryMilton]

Don't you have to sign for the transaction when you pay by card? Did you sign a slip for the 16,000B transaction?

If you didn't, surely your bank can't accept the debit.

[Sandman77]

Tell the shop that give you money back cash!

[dave111223]

Gold shops here actually accept Credit cards...?

How do they not get hit up with a crap load of stolen cards?

Same way as every other business, I suppose.

But if I had a hand full of stolen credit cards and wanted to max them out at the highest return, first place i would head is a gold shop. Buy Gold, turn around and sell it next door for a 1% loss? That's pretty damn good return on a stolen card.

Doesn't even need to be "stolen"; I'm surprised there aren't a queue of scumbag who walk in max out their card, then call the bank 5 minutes later and tell them the card was stolen earlier in the day.

[Pib]

Gold shops here actually accept Credit cards...?

How do they not get hit up with a crap load of stolen cards?

Same way as every other business, I suppose.

But if I had a hand full of stolen credit cards and wanted to max them out at the highest return, first place i would head is a gold shop. Buy Gold, turn around and sell it next door for a 1% loss? That's pretty damn good return on a stolen card.

Doesn't even need to be "stolen"; I'm surprised there aren't a queue of scumbag who walk in max out their card, then call the bank 5 minutes later and tell them the card was stolen earlier in the day.

In the western world that might fly, but if it was Thai credit/debit card you would still be on the hook as generally the Thai bank policy is you are still liable for all charges up to 5 minutes after you have made the stolen/lost card notification and the bank acknowledges receipt of the notification by deactivating the card. So, that gold you just bought with the Thai credit/debit card but then shortly afterwards called the bank to report it stolen, well, you are still on the hook for the charge...but at least you got some gold. Remember, for Thai credit/debit cards there really is no consumer protection; just bank protection....they really should rename it Bank Protection.

[dave111223]

In the western world that might fly, but if it was Thai credit/debit card you would still be on the hook as generally the Thai bank policy is you are still liable for all charges up to 5 minutes after you have made the stolen/lost card notification and the bank acknowledges receipt of the notification by deactivating the card. So, that gold you just bought with the Thai credit/debit card but then shortly afterwards called the bank to report it stolen, well, you are still on the hook for the charge...but at least you got some gold. Remember, for Thai credit/debit cards there really is no consumer protection; just bank protection....they really should rename it Bank Protection.

So just to clarify Gold shops do not accept international credit cards, only Thai issued credit cards?

[Pib]

In the western world that might fly, but if it was Thai credit/debit card you would still be on the hook as generally the Thai bank policy is you are still liable for all charges up to 5 minutes after you have made the stolen/lost card notification and the bank acknowledges receipt of the notification by deactivating the card. So, that gold you just bought with the Thai credit/debit card but then shortly afterwards called the bank to report it stolen, well, you are still on the hook for the charge...but at least you got some gold. Remember, for Thai credit/debit cards there really is no consumer protection; just bank protection....they really should rename it Bank Protection.

So just to clarify Gold shops do not accept international credit cards, only Thai issued credit cards?

No, I'm just saying if a Thai credit card is used which is supposedly stolen then above 5 minute rule generally applies, whereas, generally in a card from a western country (or at least a U.S. bank issued credit card.) you have much more consumer protection--no hard core 5 minute rule...usually you are only on the hook for a max of $50 if your prompt reporting and story holds up. I have used a U.S. credit card in a couple of Thai jewelry shops over the years (but they much prefer cash)...not to imply all gold/jewelry shops accept credit cards (I expect many don't)...I expect they all prefer cash to avoid card fees and possible charge-back problems.

[dave111223]

No, I'm just saying if a Thai credit card is used which is supposedly stolen then above 5 minute rule generally applies, whereas, generally in a card from a western country (or at least a U.S. bank issued credit card.) you have much more consumer protection--no hard core 5 minute rule...usually you are only on the hook for a max of $50 if your prompt reporting and story holds up. I have used a U.S. credit card in a couple of Thai jewelry shops over the years (but they much prefer cash)...not to imply all gold/jewelry shops accept credit cards (I expect many don't)...I expect they all prefer cash to avoid card fees and possible charge-back problems.

I think a Jewelry shop is quite different to a Gold shop though. If you buy general jewelry (diamond earrings, gemstone necklace etc..), then you are going to lose like 30% or more when you resell the items to get cash, but go and buy gold bars and your getting 99% cashback when you resell it.