The Matercard Secure Card Scam: Watch Out

Fees For Declined Credit Card Transactions

With increasing use of online banking today, customers are paying their household bills through credit cards or through direct transfer from their bank accounts moving away from the system of payment through cash or checks. While this appears to be exceedingly convenient for customers, this payment arrangement transfers some of the risks involved in the system directly onto the customers.

If there are any operational problems or issues with the system of electronic transfer of funds, most financial institutions charge an unreasonably high penalty to the customers, even if the customer is not at fault. For instance, in case of a default in payment, rather than looking into the issue of which party is responsible for the default, customers are served with arbitrary charges as penalty. If there are insufficient funds for a scheduled payment,…

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