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Nearly £2 million claimed in card chargebacks lloyds According to bank data, the banking group’s customers between the beginning of January and the end of September this year.
The average transaction was £35, with the bank highlighting customer problems with websites, such as purchases not going through, items turning out to be poor-quality copies, or unauthorized subscriptions being installed.
Chargeback is a type of card payment protection that can help buyers get their money back if something goes wrong.
Spending is expected to increase as Black Friday (November 28) approaches.
Lloyds said scammers will identify in-demand items e.g. lubub Dolls, jellycat toys and high-end advent calendars – along with “evergreen” Christmas and Black Friday products, such as jewellery, perfume and gadgets.
Scam websites claiming to sell popular items often appear to be deeply discounted and encourage buyers to act quickly.
Scammers may also post advertisements for their websites on social media using pressure-selling tactics. The bank said that after people entered their payment details on the website, the items never arrived or were cheap counterfeits.
When purchases are made using a debit or credit card, if the item does not arrive or is not as described, a chargeback claim may be considered by the customer’s bank.
Lloyds said its customers can request a chargeback through the bank’s mobile app.
People One may have the option to file a claim under Section 75 of the Consumer Credit Act when making credit card payments.
Liz Ziegler, fraud prevention director at Lloyds, said: “Everyone is busy looking for the perfect Christmas gifts and, with so many deals, offers and choices coming online, it’s easy to feel overwhelmed – especially when you’re trying to stick to a budget and get everything done on time.
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“Scammers know how to blend in on social media and it can be easy to miss the warning signs of a suspicious website or advertisement.”
Here are some tips from Ms. Ziegler for safe online shopping:
1. Before purchasing, check the website address carefully to make sure you are on the official website.
2. Be careful of advertisements and social posts. If you see a deal on social media, research the retailer yourself to make sure the deal is legitimate.
3. If it sounds too good to be true, it probably is. Big discounts on popular items can be a red flag.
4. Keep an eye on details, especially on “free” offers. Some come with hidden subscriptions or additional fees.
5. Look for independent reviews before buying.
6. Report anything suspicious. If something goes wrong, tell your bank immediately. This can help you get your money back and also protect others.