BetterXchangers' Anti-Fraud Policy

Due to repeatedly becoming victim of Fraud over the past year, BetterXchangers is seriously clamping down on its Anti-Fraud Policies where we will do whatever it takes to not enter into any position where we can become a victim of Fraud.  We are now imposing much stricter policies on any type of "Revokable" forms of payment.  All payments with the exception of Cash, Canada Post Money Orders, MoneyGram and Western Union are Revokable and can be charged back.

Credit cards and many other payment systems will reverse payment if a cardholder complains that he/she did not receive his/her goods. The issuing entity (bank) will take the payment back from the Merchant on the word of their cardholder, even if their cardholder is lying.

In "card not present" transactions, such as by Internet or telephone, there is no signed contract and little proof that the Merchant did deliver. There is no practical arbitration process for dealing with disputes and the card issuer will always side with their customer.

Thieves know this.

Some payment systems can be charged back up to 6 months later meaning that a Merchant is not completely certain that they have been paid until after that time has passed.  At any point during that time, the cardholder can decide to steal from the Merchant.  There is no recourse for the victim being the Merchant.

Another problem is stolen credit card numbers, stolen Paypal and other payment system accounts.  Thieves attempt to buy valuables with stolen accounts.  When the real account holder gets the bill, he/she charges it back.  Again the Merchant is the one who loses.  E-currency Exchanger Merchants are most attractive to these criminals, because their product is "money".

BetterXchangers does not get robbed and will take every measure to prevent it.

Effective immediately, for anyone who chooses revokable forms of payment, then they must be prepared for payment holds (until cleared), complete ID Verification, and delays in the completion of their orders. This will apply especially to first-time and newer customers, and larger dollar amount transactions.

There are a few Exchangers around who do accept credit card or Paypal.  But it is important to know that such a Merchant must charge higher fees to cover the cost of verifying your identity and credit worthiness.  No matter how careful, they still run the risk of charge backs, therefore they must build the inevitable losses into their fee structure.  In other words, it's going to cost you more in fees and will not be as fast a process.

There is also a very clever and cunning scam going around called "Auction Fraud".  BetterXchangers will no longer become an unwitting partner in third-party fraud and will not accept third party payments.  These fraudsters convince their victims to send money to an Exchanger for a phony listed Auction item that doesn't exist, and places a separate order for the Exchanger to spend the e-Currency to the fraudster's account.  When the victim realizes he/she has been ripped off and complains to authorities, the money trail leads to the Exchanger who has unknowingly aided to the fraudster's scam.

BetterXchangers will no longer accept payments without verifying the buyer's intention.  This applies especially to Money Orders, Bank Drafts, Bank Wire Transfers and Cash Deposits.  All payments must include a Disclaimer written on the Draft, Deposit Receipt or entered into the Wire Transfer Details of Payment: "NOT for Auction Items".  All payments without this Disclaimer will either be returned less an admin fee for our time, or held for a minimum of 30 days.  This is in effect to avoid being party to fraud.

The BetterXchangers e-Currency Xchange Services will no longer be used for fraudulent purposes.  Any Member suspected of using our services for fraudulent or criminal activity will be reported and dealt with to the fullest extent of the law.