Purchase scams: 2 easy ways to protect yourself
“If it seems too good to be true, it probably is”.
A phrase that’s seemingly been around forever, much like the scam it describes.
Purchase scams remain a constant threat to businesses, with new technology now available to help scammers convince you. But new technology also provides you with greater protection.
How purchase scams work
Purchase scams are deceptively simple.
You see something for sale, usually at an eye-catching discount.
You purchase it, but never receive it, and don’t get your money back.
Scammers can leverage technology to convince you they’re genuine by creating fake websites, fake reviews, and fake products.
Protect your purchases
The first thing to know is that you should never pay for anything by bank transfer unless you 100% trust the recipient. ❌
There is no in-built protection for bank transfers, and it can be incredibly difficult to recover your money if it’s sent to a scammer’s account.
Instead, always pay by card. If you do and never receive what you paid for, you can raise what’s known as a ‘chargeback request’. By doing so, the scammer will have to prove that they provided what you paid for. If they can’t, you’ll get your money back. ✅
If you pay with your Tide card, you can raise a chargeback request in your Tide app within 120 days of making the payment.
To do this, tap Support > Report fraud and select Card. You’ll be put directly in touch with our fraud team, who will share the next steps to help reclaim your money.
Scammers will often (though not always) demand that you pay them by bank transfer. ❌
You should always be wary if this is the case. You can see how real purchase scams play out by reading one Tide member’s experience.
If you refuse to pay by any method other than card, not only will you protect your purchases, but you’ll also likely deter any scammers who know they can’t get away with your money. ✅
Check delivery
Even if you do pay by card, there’s no guarantee that you’ll get what you paid for. So if your goods are being delivered to you, follow these steps:
- Where possible, view, buy and collect your goods in person. This is particularly key if you’re using sites such as online marketplaces.
- If you’re unable to do this, ask the seller to deliver the goods to you and say you’ll pay them on delivery.
- If this option is also unavailable, ask for the delivery details for your purchase. The seller should be able to provide a tracking reference number for your purchase and tell you which delivery company they’ve used. Go to the delivery company’s website and check if it’s legitimate. Then, enter the tracking number into their system and see whether your goods are being delivered to your address.
By protecting your purchases through card payment, and by checking the delivery details online, you should be able to steer clear of purchase scams and ensure you get what you paid for.
Photo by John Schnobrich, published on Unsplash
