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<p>[QUOTE="Blaubart, post: 1487093, member: 37498"]Perhaps. I've noticed that FeeBay makes a distinction between their money and our (buyers and sellers) money. I've heard of them denying claims based on funds not available in a sellers account to reimburse the buyer and vice versa when a seller tried to recover funds after a buyer did a chargeback on their credit card.</p><p><br /></p><p>I believe their "Buyers Protection" program is not what most people assume it is because they certainly don't seem to be willing to dip into their pocket to reimburse anyone. They aren't offering any sort of insurance. They are merely willing to go to bat for you and try to recover the money from the seller. They might have more capability to do that now since they have required sellers put a CC on file specifically for the purposes of reimbursing buyers, but a scammer can always get around that by cancelling their CC before FeeBay can suck it dry. Unless they're placing a pre-authorized charge/hold for the amount of the sale on the sellers credit card each time a seller sells something, but I'd imagine we'd have heard people screaming about that if they were doing it, especially for debit cards. If I ever decide to sell something on FeeBay again, I'll have to check my CC after the sale to see if they've placed such a hold on it for the amount of the sale.</p><p><br /></p><p>ETA: Credit card companies usually side with the consumer as well. In the case of FeeBay where a seller scams people and FeeBay charges the seller's credit card, the seller could always call their CC company and initiate a chargeback. I wonder who would get screwed at the end of the day in such a situation. Certainly not FeeBay... :rollling:[/QUOTE]</p><p><br /></p>
[QUOTE="Blaubart, post: 1487093, member: 37498"]Perhaps. I've noticed that FeeBay makes a distinction between their money and our (buyers and sellers) money. I've heard of them denying claims based on funds not available in a sellers account to reimburse the buyer and vice versa when a seller tried to recover funds after a buyer did a chargeback on their credit card. I believe their "Buyers Protection" program is not what most people assume it is because they certainly don't seem to be willing to dip into their pocket to reimburse anyone. They aren't offering any sort of insurance. They are merely willing to go to bat for you and try to recover the money from the seller. They might have more capability to do that now since they have required sellers put a CC on file specifically for the purposes of reimbursing buyers, but a scammer can always get around that by cancelling their CC before FeeBay can suck it dry. Unless they're placing a pre-authorized charge/hold for the amount of the sale on the sellers credit card each time a seller sells something, but I'd imagine we'd have heard people screaming about that if they were doing it, especially for debit cards. If I ever decide to sell something on FeeBay again, I'll have to check my CC after the sale to see if they've placed such a hold on it for the amount of the sale. ETA: Credit card companies usually side with the consumer as well. In the case of FeeBay where a seller scams people and FeeBay charges the seller's credit card, the seller could always call their CC company and initiate a chargeback. I wonder who would get screwed at the end of the day in such a situation. Certainly not FeeBay... :rollling:[/QUOTE]
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