[Tipstaff]

I know a few of you guys on DH have their own business, computer or otherwise, and I know a couple of you are distributors, so this is a warning to all you guys and gals:

Beware of companies/individuals, even ones you trust, looking to make large purchases by certified cheque or money orders! Do yourself a favor, and do not release any product to people paying in this fashion until AFTER either of these things have cleared the bank. And I mean CLEARED the bank. Don't even bother calling the bank to verify if the cheque/money order is legit, because the numbers on them are. This is how good these fakes are. The bank will tell you that the money is there, that it's certified, but once you try to cash the thing is when you will find out how badly you've been taken.

Now, you are wondering why I say, "even ones you trust"? Thing is that the information about account numbers and so fourth on these certified cheques/money orders have come off of legit cheques/money orders. If their cheque/money order was duped, and it gets cashed before you cash yours, you could wind up with a huge problem, such as being held responsible, by the bank, for that money. Hell, if you are a reseller, you sure as hell will be held responsible for paying your suppliers for the product regardless.

This nice little scam has been running rampant for the last few months, and it's hit a couple of the distributors I deal with, and a couple guys I know that own a computer reseller business like mine. So, pay attention to who you guys and gals sell to, what they want, in what quantity, and how they are going to pay for it.

I'd hate to see any of you guys and gals get hit by this. Spread the word, and keep yourselves safe.

[Stop It]

And this is one of the many reasons why Cheques are being gradually phased out in the UK, more trouble than they are worth, and forgers seem to be getting better and better at getting round any defense mechanisms put in place.

I'll be honest here, if I run a business in retail I would not accept cheques, or money orders for that matter, only payment methods that are absolute, so either Credit/Debit cards, Paypal, Google checkout, or even good old cash, any other method is far too risky for my tastes.

[unga]

I only wish you'd have posted this about 2 months ago. Got nailed for one. Luckily I kept the cash or at least most of it & wasn't out as much as I could have been. Like the man said, even calling & verifying funds etc didn't help.

[Tipstaff]

I wish I had posted it earlier too, but unfortunately it wasn't apparent how wide spread it had become until I talked with a couple of distributors.. including one of THE major ones who had been taken for close to $1Mil in goods. From that discussion it basically snowballed, and I found one distributor, and one reseller after another, in one city after another around the globe that have dealt with these bastiches in one form or another.

Jezuz... one 'another' after another.... it's enough to drive you insane.

I feel for anyone that gets taken by these punks as I had a close call myself a month ago. The guy that nearly had me knew way too much about the person who's name he dropped, but not enough about everything else to realize that I had him all figured out. I never did business with the guy as, well, I just don't do business this way with anyone other than my well established clients, so I was lucky. When I do business with anyone other than those clients it's cash, credit, or debit. 'Course, cash is always preferred...

[PangingJr]

that's a scary story alright. and it was because of trust, it had caused me some loss of money before, but it's years ago, and the bad experience was/is the best teacher, lol.

[Judas]

Problem for me is, cash isn't available all that often.... i mean sure some people carry around. TOPS.. 50 bucks... usually 20..... everything else is cheques only... Cheques provide proof of purchases.... duplicates are easily made.. cash.. well shit.. cash just disappears..

I've yet to have a cheque bite me in the ass.... but i know it'll oventually come.. doesn't mean i should protect myself by killing a pile of legit business..

But thanks for the tip on the certified cheque.... if someone wants to use it.. i'll just get em to right it out in my name so i can make a quick dash to the bank across the street.. cash it.... and then give them the product

[PangingJr]

well i don't know Judas but i think for small items like yours it got be cash or card, for paying with cash the customer gets a little discount or something, but for card they gets to pay a few charges, at least that's what i've seen the businesses like yours are doing this. but for a big amount of money and you know you were getting a large profit out of it, and then there was, a trust me! and a greedy for money. this was what i got the loss instead, lol.

[Judas]

Card isn't an option here.. it's either cash or cheque..... Debit or CC is a no no... not available...

i kindly point out 2 locations they can find an ATM, or state that if they bank with CIBC, walk across the street for cash.

Debit/CC systems are still horridly expensive, any if you don't have one, it's not really a concern....

It's always been cash or cheque around here, only businesses that use such systems are usually resturants/confectionaries ala gas stations that are privately owned, or larger corporate places such as Co-oP...

[Tipstaff]

Cash or cheque here too. Most customers don't realize how much money we, the sellers, get charged by the bank for everything they do. "Well, debit is cash." Wrong. Sooo wrong. We pay the banks money for 2 things: 1) the merchant machine, which depending on the bank costs us a minimum $$ amount per month, and 2) any transaction has a small fee attached to it that we pay right along with the customer. Now, while debit isn't to bad, it's credit card transactions that really hit us sellers hard in the pocket book as each card company has a different percentage they charge us.. yes us.. for your use of the card. American Express, btw, being the worst bastiches of them all.

No.. cash or cheque only. Thanks.

There are other reason for cash or cheque only, but being an honest seller I won't get into that. Those are trade secrets after all, and I'd have to shoot everyone reading this. That... could get messy.

[PangingJr]

O okay, that's quite different. on the computer parts store like yours, except for a contract jobs with offices, companies or a bidding job which ends up with large amount of money, there usually will be no cheque for walk in and buy (or call in for delivery) on the parts or a build to order computer.

[YAYitsAndrew]

What are those credit card fees like? Whenever I have to use a card at a mom'n'pop place when I'm eating out, I round it up to the next dollar in hopes it covers those fees. We're only talking 6-10 dollar meals.

[ferret2004]

Originally Posted by YAYitsAndrew

What are those credit card fees like? Whenever I have to use a card at a mom'n'pop place when I'm eating out, I round it up to the next dollar in hopes it covers those fees. We're only talking 6-10 dollar meals.

I believe the fees are 3%.

[Tipstaff]

Originally Posted by ferret2004

I believe the fees are 3%.

Close. It ranges between the card makers, usually 1.55% to 3% wit AmEx being at the top end. If I were to accept only one card out of the bunch I would qualify for a "merchant discount rate", which would lower those fees, sometimes by 1%. Problem is that by doing so I pay 1% to 2% more on the other cards. Hell, at one time I was paying 5% for American Express transactions on top of my banks fees for using the machine. Pissed me off so much that I bought my own merchant machine. I also have a sign here that states that if people pay by credit card I will charge them an extra 3.5%. Yes it's high, but it's more of a deterant then anything else.

[Judas]

What ticks me off is i still can't get credit at all.... 0 credit rating... even though i've been in business for nearly 2 years now... what a load of crap...

before i was paying CASH.... on the spot for everything.

now i've just setup my order accounts on my mastercard which isn't a real Credit card, as it's reffered to as a Debit/Credit card.... Pay the credit card transaction fees + it emediately removes that entire sum of money that night...

Most places charge the buyer the percentage of what that specific card requires. So the buck gets passed on.... AKA, i'm paying an additional 2% on all my purchases because i have 0 credit history, and must use a credit card that's actually a debit card... for everything. AKA, sucks balls....

[PangingJr]

Originally Posted by YAYitsAndrew

What are those credit card fees like?

this may be different in the US., but, what i used to is, either customer pays 3% of the purchase when paying by bank credit card, which i usually see visa/master cards only (no amex), or no charge to customer.
and the 3% is probably seem like standard for small computer parts store to charge me, but some stores will okay and won't charge me if i buy the parts like 1000-2000$, not 50-60$, i guess what i buy may already made a good profit to them. computer part stores that won't charge customer at all are typically usually have larger size businesses.

[Judas]

I've put in a $5000 order, and still paid the 2% .... that's kinda harsh though.. 100 bucks just burst into flames on me for no good reason.

[FuNsTeR]

Tipstaff the levels some individuals are willing to stoop to decieve and con goods/money from unsuspecting people and buisnesses is reaching to record all time lows .... it is now getting to a stage that you cannot trust people until you recieve the hard cash/goods ..... the world is turning into a nasty and unforgiving place

[PangingJr]

Originally Posted by Judas

I've put in a $5000 order, and still paid the 2% .... that's kinda harsh though.. 100 bucks just burst into flames on me for no good reason.

i understand what you mean Judas, but don't you understand why people use credit card?
and there are also some good reasons for the businesses to accept credit card payments.

[Judas]

IMO, i'd completely destroy all credit card firms if i had a chance...

they are ruining millions of people, forcing them into a slaveing form of work without anyone really realizing it in order to pay off the depts.... and it's getting to the point that no one is going to be completely free of debt because of the way these systems work.

In essense, the CC firms can only get richer... and they in the end hope no one is able to make thier payments let alone fail to be able to ever pay of thier credit....

[Tril]

Sorry for getting a little off topic. Credit cards still have their uses to :

• buy games on Steam
• order by phone
• pay planes tickets (required to get the credit card insurance on your trip)
• pay FEDEX/UPS for customs charges by phone
• give the number as warranty when going to the hotel (in case you break something in the room)

[PangingJr]

Originally Posted by Judas

IMO, i'd completely destroy all credit card firms if i had a chance...

they are ruining millions of people, forcing them into a slaveing form of work without anyone really realizing it in order to pay off the depts.... and it's getting to the point that no one is going to be completely free of debt because of the way these systems work.

In essense, the CC firms can only get richer... and they in the end hope no one is able to make thier payments let alone fail to be able to ever pay of thier credit....

i'm just saying that there are more reasons than that for people to use credit cards, but, well, it's your business and you are running it, but are you sure that is the main reason that makes you won't/can't/don't accept credit card payments at your store.
well, if you care about all that, it's almost the same that you don't want your business to growing too fast?

[Judas]

Oh i misunderstood..

The reason i don't have credit debit is simply the COST of having those systems available here... i'd always be in the red as the number of transactions made via those forms is so low.. it's pointless, that the cost of having that machine would never be covered.

[PangingJr]

Originally Posted by Judas

Oh i misunderstood..

The reason i don't have credit debit is simply the COST of having those systems available here... i'd always be in the red as the number of transactions made via those forms is so low.. it's pointless, that the cost of having that machine would never be covered.

so what i understand is you cannot accept credit card payments at the store right now, cause the number of sales are not enough. or no matter what you will never accept credit card payments at the store.

but anyway, i don't think you will, deny, that credit card accepted, can increase your sales, the more sales made, the more profits you will get, yes?

[Judas]

Because the sales are not enough is the answer..

if i get more sales, and i know i can budget for the machine, i will be getting one... guaranteed..


It's no different then trying to figure out if you can afford/need the system. Do the math, figure out long term, do a little research into it so you can see if it'll pay for itself easily while still pushing a decent liveable profit...

In no way am i going to simply boycott such a system, that would be suicidal if i had that point of view.

[PangingJr]

Originally Posted by Judas

Because the sales are not enough is the answer..

if i get more sales, and i know i can budget for the machine, i will be getting one... guaranteed..


It's no different then trying to figure out if you can afford/need the system. Do the math, figure out long term, do a little research into it so you can see if it'll pay for itself easily while still pushing a decent liveable profit...

In no way am i going to simply boycott such a system, that would be suicidal if i had that point of view.

that is just what i thought, cause i think/thought the system cannot be so different, and it's (more or less) the same everywhere.
there are number of reasons for people to use credit cards, or choose using credit card over the other type of payment. okay then.