You saw a great looking pair of shoes, but you can’t find them in your size. No problem. Just search online and you’ll get a page full of results of online stores that can sell you what you want.
But wait—how do you know who are really giving out your credit card number to? While buying online may be convenient, but you don’t know the merchant and may have little recourse if it turns out the seller is a fly-by-night or untrustworthy seller.
Take a few precautionary steps to protect yourself and your credit card.
1. Check out the website of the seller for a contact number and physical address. Make sure the return policy is spelled out clearly.
2. Research the seller online to make sure the company exists. You can also check with the Better Business Bureau to see if the company is in good standing.
3. When you’re ready to make a purchase, be sure the transaction is safe. Reputable stores will encrypt the process when you get ready to enter your personal information, such as password and credit card number. Check the web address in your browser. You’ll often see a picture of a padlock right before the web address. Also, look for https instead of just http in front of the address. The additional ’s’ indicates a secure website.
4. Check your receipt. The merchant should send you one online after your purchase. Check that as well as your bank statement to ensure the right amount is deducted.
With an eagle eye and some street smarts, you can have your convenience and keep your privacy too.
YOUR 2 CENTS – What other questions do you have about buying things online?
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From a banker’s point of view I will say one thing most people don’t know. NEVER use your checking account number when you purchase something. Use your debit card. MasterCard or Visa will refund fraudulent charges (if for some reason your bank doesn’t, although I believe most banks will), plus, you can close your card and get a new one … Read Moreinstead of using your check or checking account number and having to close your account and open a new one. It’s much safer that way. If you have fraud on your account you have in most cases 60 days to dispute it.. plenty o time.. but keep in mind sometimes these disputes take up to 2 weeks, because they literally have to research cameras, location, etc. Anyway hope that helps somebody out there..
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