Shopping online offers a lot of benefits that you won't find by shopping in a store or by mail.
The internet is always open—seven days a week, 24 hours a day—and bargains can be numerous online. With a click of a mouse, you can buy an airline ticket, book a hotel, send flowers to a friend, or purchase your favorite fashions. But sizing up your finds on the internet is a little different from checking out items at the mall.
If you're buying items from an online retailer or auction website, Affidian Credit Union offers this advice to help you make the most of your shopping experience:
- Know who you're dealing with. Anyone can set up shop online under almost any name. Confirm the online seller's physical address and phone number in case you have questions or problems. If you get an email or pop-up message while you're browsing that asks for financial information, don't reply or click on the link in the message. Legitimate companies don't ask for this information via email.
- Know exactly what you're buying. Read the seller's description of the product closely, especially the fine print. Words like "refurbished," "vintage," or "close-out" may indicate that the product is in less-than-mint condition, while name-brand items with "too good to be true" prices could be counterfeits.
- Know what it will cost. Check out websites that offer price comparisons and then, compare "apples to apples." Factor shipping and handling—along with your needs and budget—into the total cost of the order. Do not send cash under any circumstances.
- Pay by credit or charge card. If you pay by credit or charge card online, your transaction will be protected by the Fair Credit Billing Act. Under this law, you have the right to dispute charges under certain circumstances and temporarily withhold payment while the creditor is investigating them. In the event of unauthorized use of your credit or charge card, you generally would be held liable only for the first $50 in charges. Some companies offer an online shopping guarantee that ensures you will not be held responsible for any unauthorized charges made online, and some cards may provide additional warranty, return, and/or purchase protection benefits.
- Check out the terms of the deal, like refund policies and delivery dates. Can you return the item for a full refund if you're not satisfied? If you return it, find out who pays the shipping costs or restocking fees, and when you will receive your order. A Federal Trade Commission (FTC) rule requires sellers to ship items as promised or within 30 days after the order date if no specific date is promised.
- Keep a paper trail. Print and save records of your online transactions, including the product description and price, the online receipt, and copies of every email you send or receive from the seller. Read your credit card statements as you receive them and be on the lookout for unauthorized charges.
- Don't email your financial information. Email is not a secure method of transmitting financial information like your credit card, checking account, or Social Security number. If you initiate a transaction and want to provide your financial information through an organization's website, look for indicators that the site is secure, like a lock icon on the browser's status bar or a URL for a website that begins "https:" (the "s" stands for "secure"). Unfortunately, no indicator is foolproof; some fraudulent sites have forged security icons.
- Check the privacy policy. It should let you know what personal information the website operators are collecting, why, and how they're going to use the information. If you can't find a privacy policy—or if you can't understand it, consider taking your business to another more consumer-friendly site.
Safe Card Usage
Tips For Safe Card Usage
- Change online passwords periodically, especially after experiencing fraud i.e. Amazon, iTunes…. etc.
- Do not get lured into the free trials for vitamins and beauty products online. If you do not read the fine print carefully those charges could be very pricey if you do not cancel within a certain timeframe and the online company could also be sharing your card and personal information without you knowing.
- Update your contact information with your financial institution. Your credit can't ask you about a suspicious charge unless it has your current phone number.
- Copy the customer service phone number from the back of each of your debit or credit cards and keep this list in a separate location from your purse or wallet in case a thief steals the latter.
- Let issuers know your travel dates and destination. If your card gets swiped at an unusual location, the card issuer may decline the suspicious transaction.
- Sign up for banking alerts. These will inform you when particular changes occur, such as irregular card activity.
- Stay away from ATMs that appear dirty or in disrepair. At best, such ATMs may not work when used, and at worst, may be fake machines set up to capture card information.
- Do not use ATMs with unusual signage, such as a command to enter your PIN twice to complete a transaction.
Watch out for ATMs or card swipers that appear to have been altered. If anything on the front of the machine looks crooked, loose or damaged, it could be a sign that someone attached a skimming device. - Avoid using the ATM if suspicious individuals are standing nearby. Criminals may try to distract you as you use the machine to steal your cash, or watch as you type your PIN.
- Be aware that if your card gets stuck in the machine and someone approaches to help, it may be a scam. A criminal may be trying to watch as you enter your PIN code.
- If your card gets stuck in the machine, call your financial institution promptly to report the incident.