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born_again

Banks don't know the nature of any transaction. No body sits there & checks what/who...

What is more interesting is UK & foreign banks being mentioned.

@smartshopper80 who is the retailer that has failed to deliver the correct amount?

Ergates

born_again said:

Banks don't know the nature of any transaction. No body sits there & checks what/who...

Yeah, but no, but yeah, but no.

Card transactions will come with an MCC code that will identify the type of retailer - from this the bank can get a good idea of the nature of the transaction.   In general these aren't routinely monitored - outside of certain circumstances (e.g. as part of their duty of care, the might take an interest if a customer was spending a lot of money on gambling).  But the information is there should they wish to look into it.

Moreover, banks do know what a transaction pattern for a "normal" retail customer looks like, and will spot when somebody falls outside that pattern.

born_again

Ergates said:

born_again said:

Banks don't know the nature of any transaction. No body sits there & checks what/who...

Yeah, but no, but yeah, but no.

Card transactions will come with an MCC code that will identify the type of retailer - from this the bank can get a good idea of the nature of the transaction.   In general these aren't routinely monitored - outside of certain circumstances (e.g. as part of their duty of care, the might take an interest if a customer was spending a lot of money on gambling).  But the information is there should they wish to look into it.

Moreover, banks do know what a transaction pattern for a "normal" retail customer looks like, and will spot when somebody falls outside that pattern.

Banks only monitor fraud pattern, not customers patterns. 
Sadly no such thing as normal customer pattern. 🤦‍♀️

Okell

I don't think the OP is coming back...

born_again

Okell said:

I don't think the OP is coming back...

TBH, look at OP's thread history.

Okell

born_again said:

Okell said:

I don't think the OP is coming back...

TBH, look at OP's thread history.

They've also been selling second-hand watches on ebay for £5000?

Aylesbury_Duck

Okell said:

born_again said:

Okell said:

I don't think the OP is coming back...

TBH, look at OP's thread history.

They've also been selling second-hand watches on ebay for £5000?

NOT AS A BUSINESS, THOUGH!!!