How much would you pay for one drink? One cocktail after a hard day? One little beverage at a birthday party? $10? $20? $50? How about $800?
Much to my surprise that was the bar tab I ended up with over the weekend after purchasing one martini at a friend's birthday party with my debit card. On Monday, after taking out some money at the ATM, I thought my balance looked a little low. When I returned to my computer, I logged onto online banking and there it was, a debit of: $800.52. My jaw dropped. That was some drink ! I knew I had to get this rectified immediately and if you're ever in the same situation here's what you should do:
Step 1: Proof
In a panic, I grabbed my wallet and pulled out the receipt. Thank goodness I kept it. The crumpled slip I signed said $11. I breathed a sigh of relief, and put my worried mind to ease thinking I did not pay attention and just signed some $800 late night tab.
Step 2: Call the merchant
I quickly looked up the number to the restaurant and asked for the manager. Luckily he was in. I explained the situation and he dug up the bartender from that night who, turns out, entered the amount into the computer incorrectly. That was some typo! I wondered if the guy was drinking that night too? Or was he trying to pull a fast one with the tip? I was ready and armed with my receipt if I needed to do battle.
The manager said he'd call his bank and fix the error, but it may take a couple days for the credit to show up on my account. I told him I was going to call my bank to see what they could do.
Step 3: Call your bank
This was the best phone call I made. As much as I've griped about banks in this column, the customer service rep. was great! She had me read her a couple of numbers off my receipt. Then she asked me if we could do a three way call to the restaurant. Happily, I dialed the number and connected our conference call.
I explained to the manager it was "me again" and this time someone from my bank was on the line. The customer service rep. asked the manager for a couple of secret codes from their side of the transaction, including the exact time of electronic transaction and the date. Something only the real merchant knows.
Within minutes the $800.52 was restored to my account. I thanked everyone and hung up relieved.
Step 4: Follow my own advice
I've preached many times about the dangers of using debit cards. If there's an error the money comes right out of your checking account and you risk the possibility of hearing that big BOUNCE noise and getting hit with some outrageous overdraft fee for something that's not your fault.
When I was hurrying out the door over the weekend to catch a cab I called, I just quickly grabbed my debit card for the night. My bad.
If you get charged for a purchase you did not make, or the merchant you bought something from goes belly up, you have greater protection using a credit card which is regulated under the federal Fair Credit Billing Act to get your money back.
So far I haven't been recharged the $11 from that martini I ordered. I'm waiting to see if that one turns out to be "on the house."
UPDATE: Yup, they charged me for the drink. The correct price this time around.
Comments
That's great that you were able to resolve it so quickly! Thanks for one more reminder to keep every single receipt...
Good advice!
Once I paid my Comcast cable bill over the phone. Instead of charging me $270, the Comcast service rep charged me $2,700! I called my bank, and they said Comcast had to reverse the charges. Comcast said my bank had to do it. In the end, I had to wait five days for the hold to drop off my account.
Recently I bought a MacBook Pro for $3000. I tried to do it as a debit but it didn't go through. So I did it as a credit (using the same debit card). That went through. Then the debit also went through - so I was out $6000 instead of $3000. I called my bank and they gave me a list of info they wanted the Apple store to fax them. Then I called the Apple store - they said they would have the charges reversed in two days. But when they faxed the info to my bank, my bank reversed the charges in about six hours.
That sounds so weird to me, in my country it is impossible to have a value billed different from the one which you authorized. Here we don't sign debt card payments, as with credit cards, you type in your bank password directly and this transaction with your banking system shows the value actually being deducted from your account. There's no such thing as someone "entering the amount into a computer"...
Good advice!
Once I paid my Comcast cable bill over the phone. Instead of charging me $270, the Comcast service rep charged me $2,700! I called my bank, and they said Comcast had to reverse the charges. Comcast said my bank had to do it. In the end, I had to wait five days for the hold to drop off my account.
Recently I bought a MacBook Pro for $3000. I tried to do it as a debit but it didn't go through. So I did it as a credit (using the same debit card). That went through. Then the debit also went through - so I was out $6000 instead of $3000. I called my bank and they gave me a list of info they wanted the Apple store to fax them. Then I called the Apple store - they said they would have the charges reversed in two days. But when they faxed the info to my bank, my bank reversed the charges in about six hours.
Over the summer someone stole my debit card number. Within two days they had $160 in processing. I called the bank and I had the money back almost instantly. Definitely call your bank.
From what I've read, Visa has zero liability and Mastercard has $50 liability. You still have to dispute transactions, but you'd be doing that with a credit card, anyway.
They should have not charged you the $11, that is poor customer service all the way around!
The best way to avoid paying those outrageous fees is to use a credit card instead of your ATM to make purchases.
I have never had an overdraft fee from my bank because every non cash purchase I make is on my credit card.
I get the bill at the end of the month, know exactly how much I owe and pay off my credit card bill in full each month.
You have to be really stupid to let the banks rip you off using your ATM card.
Plus my credit card gives me rewards so every purchase I make gets a discount in the amount of the award.
In the case of my Costco card, I get 4 percent discount when I buy gas and 1 percent on most other purchase.
And if a clerk makes a mistake and overcharges you on your ATM card...the money comes right out of your account and it's up to you to try and get the charges reversed. Once I had a bunch of bogus charges on my credit card . I filed a fraudulent card claim. It was up to the merchant to prove that I had made the charges.
ATM cards are a bank scam
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!