Originally Posted by ependydad
Wow- you made the right move. I've had our accounts compromised 2 or 3 times to the tune of about $3,000 total and it hasn't costed me a penny.
FYI, the credit card companies/banks hardly ever absorb the loss, and it falls on the shoulders of the company who accepted the card (number). The Credit card issuer backcharges the company who accepted it, thus they absorb all the loss of money/services/products.
As a business owner, Even if you go by all the procedures the credit card companies state you must do in accepting credit cards properly....they still will backcharge you if it turns out to be fraudulent later on............unless you have some high dollar attorneys to fight them on it.
Because of this, I make my guys always verify a persons ID when accepting a credit card..........or when people try to use their debit card as credit. We also won't accept credit cards over the phone, or cards that don't match the ID of the person handing it to us.
It has cost us some business, but we also don't get backcharged. I learned this lesson the hard way to the tune of about $1140.
Just posting this info, in case you get annoyed if the clerk asks you for ID when you purchase something with a card........so you can understand why they may do it.