Cleared Funds Greatly Minimises Risk of Credit Card Fraud
Stay Secure When Transferring Funds Online
Credit Card Fraud Prevention
Credit card fraud is a common and severe problem affecting individuals and businesses worldwide. According to the Personal Fraud Survey for 2010-2011 undertaken by the Australian Bureau of Statistics, 3.7% of Australians were victims of credit card fraud, a more than 50% jump from 2.4% in 2007. Victims worldwide suffer the emotional distress and financial loss associated with credit card fraud.
Technocash Only Accepts Cleared Funds:
No Credit Card Chargebacks
Chargebacks enable credit card companies to demand a reverse of the payment credited to businesses in the event of a disputed or fraudulent transaction.
To prevent monetary loss associated with credit card chargebacks, Technocash only accepts cleared funds, such as funds deposited through Internet banking, international wires and Australia Post (via cash or EFTPOS). Cleared funds means extra security for all parties involved and the reassurance for businesses that they are free from the risk of credit card chargebacks.
With Technocash, most transactions go through the banking system which means greater security. Deposits are made in person at Australia Post with either cash or EFTPOS, which ensures security. In addition, procedures are in place to ensure that all Technocash accountholders are fully verified, which helps reduce the risk of fraud occurring.
Credit Card Fraud Prevention Tips
Victims of credit card fraud often experience financial and identity loss and emotional distress.
Some useful credit card fraud prevention tips include:
- - Keep all your credit cards safe. Thieves are able to capture your credit card details easily with a camera, so avoid leaving your credit cards exposed for longer than necessary.
- - Shred all documents containing your credit card information. Credit card bills for example, contain a lot of personal information such as your address, name, credit card details and transaction information. All of these may be misused by criminals.
- - Beware of phishing scams. These often take the form of criminals pretending to be from legitimate businesses, banks and credit card companies. For example, do not enter your personal information on unsolicited email correspondence or provide these details to phone call operators.
- - Report lost or stolen cards immediately. This helps minimise the risk of you having to pay for fraudulent transactions made on your card.
- - Use a payment system that only allows cleared funds. To protect customers, promote security and counter credit card fraud, Technocash only accepts cleared funds.
The best way to avoid credit card fraud is to use a system like Technocash because we don't accept credit card payments.
Do you need a secure payment platform that enables you to send money instantly? Apply for your Technocash Account today.
“There are three things in the world that deserve no mercy, hypocrisy, fraud, and tyranny.”
- Frederick William Robertson
Stay Secure With Technocash
Disclaimer:Technocash Limited is a licensed financial service company with many corporate accountholders. Technocash provides excellent services for collecting and disbursing funds on behalf of our accountholders. Technocash Limited and the banks used by Technocash are not our corporate accountholders. Consequently, Technocash and the banks are not responsible in any way for funds deposited with or invested by Technocash accountholders. Use of Technocash services or products does not constitute financial advice or endorsement of products or services offered by its accountholders. Technocash cannot be responsible for you sending your money whether it goes through Technocash services or goes to any Technocash member or their ultimate beneficiary because Technocash is a payment service and is only a small part of moving your funds to its final destination.