[withinboredom]

> Unfortunately as a customer you don't have the level of protection with these services a CC or a specialised top up "virtual" debit card has.

Generally, you'd have to have your bank account hacked to have a reason to reverse a charge on these types of systems. It happens, but very, very rarely and the banks have a lot of reasons to make sure it doesn't happen. That or you gave money to a scammer and that's your own fault (but they'll still help you).

This is why the fees are much, much lower. Often these systems even verify that you actually have the money and can transfer the amount to your business bank account on the same day. You can't do that with credit cards.

[packagethieves]

> That or you gave money to a scammer and that's your own fault (but they'll still help you).

Is it really that merchant-friendly / anti-consumer? I have used chargebacks when merchants fail to deliver as promised, even when most people wouldn’t call them “some scammer”.

For instance recently a package was shipped that didn’t include one of many items. I asked for a refund, they claimed it was in the package. No worries, I’ll just do a chargeback.

[withinboredom]

So you’re one of those people. I refuse to do business with people who do chargebacks without reason. I wish there was a list of them.

[carlosjobim]

You perfectly illustrated why credit cards are better for customers. There is fraud protection, which you don't have with other payment methods.

Bank transfers and other direct methods are only an advantage for the seller and gives no advantage to the customer. That's why businesses that don't accept credit cards lose customers.

> You can't do that with credit cards.

Yes, you can. Stripe has same-day payouts, as do many more.

[withinboredom]

Hmm. I think we are talking past each other. There isn’t a need for fraud protection because people can’t get access to your bank account. Bank accounts where I am aren’t like they are in the US.

Every time I login I have to verify my identity (or use faceid on my phone). The bank account is basically unhackable without my physical presence.

Thus using something like ideal, there’s no need for fraud protection because it makes damn sure it’s you and asks like 4 times that you are sure.

[carlosjobim]

Yes, we're talking past each other. What credit card fraud protection means is that if you purchased something and didn't receive your product, or didn't receive the product as specified, you will get your money back from the credit card company. If you purchase something with a bank transfer and you didn't receive the product you can call the bank, but they won't give you your money back. With credit cards you have some protection against being scammed.

[withinboredom]

Ah. That makes sense. Yeah, bank transfers aren’t really protected from that use case. Usually you just contact the merchant and have them refund you. I’ve never used a chargeback.