Pay with Protection for Your Loots

As most frequent online shoppers know, the easiest way to purchase and pay in almost all blogshops are through Internet Banking (IB) transfer or Automated Teller Machine (ATM) transfer.

The benefits of using IB or ATM transfer method are simple.

• Almost all Singaporeans will have a bank account.
• Almost all banks offer IB transfers.
• All banks have an ATM somewhere.

Therefore all blogshops provided the same avenues to their paying method simply because they are readily available and the buyers follow.

A huge BUT here!

Just because it is so easy to do a transfer anywhere, anytime turns most of our fellow shoppers blind to most scams.

So does that mean we cannot shop in blogshops anymore? Not quite true.

We can still, but choose wisely on the payment mode.

The most recommended way is to pay thru Paypal. We are in no way affiliate with Paypal and what we are interested in sharing is about some buyers’ protection scheme they have.

1. Paypal never shares your financial information – So why are you going around sharing your bank account number (for some people who took pictures and show their ATM transfer receipts to sellers)?
2. You can pay through credit cards – which does not deduct from your account immediately. More time for you to cancel a transcation if you sense something amiss.
3. If you do not have a credit card, they provide a Buyer Complaint Policy.

Under this policy, you can visit their resolution centre if you encounter a problem with an item you purchased and open a dispute case within 45 days from the date you sent payment. All communications with the seller are all recorded.

If the dispute remains unsolved, you can escalate and file a claim within 20 days from the date the dispute was opened. – in another words, you are protected if you do not receive your loots or the items received are significantly not as described!

I guess I really like the Buyer Complaint Policy a lot.

The only small problem with Paypal is toping up the account as they do not support top-up through POSB/DBS internet bank transfer. If you are holding bank accounts only with them, you will need to do it manually at the local branch.

If you really shop a lot or don’t want to miss out shopping online, you can just top up a sum of money once and leave it until it depletes. Have not heard about other banks with such problem yet.

You can check out more information on their website, www.paypal.com.sg

Conclusion is, don’t wait until you burn your fingers pocket to learn your lesson. Pay wisely.

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