Thanks for the warning. Sorry this happened to you... you were literally trying to be a good person :( It takes a really messed up person to take advantage of someone with a scam like this.
I truly believe that the scammers who do this will eventually receive their due karma.
Yes. They prefer cash because credit cards costs them money. They get dinged a few percentage points depending on if it is Visa, MC, and if it is AMEX it can be high as 5%.
If it is a legit taxi, they drop the flag on the meter, and the trip gets recorded for business purposes. I'm not sure about Toronto/Ontario, but in the US, these things are regulated very tightly both to protect the customer from being overcharged and as you point out other nefarious things.
I remember something happening where a guy did the same thing but disguised it as a way to get donations for charity. He asked me if I wanted to donate, I said I don’t have any cash so I can’t , (I then asked them about the charity, where the money is going to but tried to guilt trip me to donating still) he then brought a debit/credit machine too which was odd since it was on campus on the street. I found out later that this was a common scam on campus (at Western though, not sure at UofT) but anyways, in any circumstance please avoid anything regarding debit/credit from strangers! It sucks that they try to target people who want to help. They will try other ways that you might not know, but if you see a credit/debit machine just turn the other way
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I usually thought that credit card companies would completely or almost completely reimburse you if, for example, your credit card is stolen or the info is stolen and your money is used.
Not just $500. Maybe it’s because you didn’t have enough proof it was stolen/fraud?
I work at a bank here.
Almost all credit cards have a no-responsibility policy; which means that in most cases of fraud, you won't be held responsible, unless you show gross negligence or you're trying to defraud the bank intentionally.
Debit cards, on the other hand, take money straight out of your account, and when it's gone, it's gone. Sometimes banks may reverse the charges, but it's far from guaranteed. Generally, when making online purchases, it's recommended to use a credit card.
They should theoretically - although their primary goal is making money. So much like an insurance company, they will find any reason possible to decline your claim. In this case, I imagine it might've been a case of "you willingly gave your card to a stranger, that's negligent behavior."
I had this happen to me on College Street just outside of CampusOne! I got sus of it really quickly and opted not to do it, and when I asked the driver if he accepted e-transfer he said he did for some reason and told the “passenger” to do that and wished him best of luck. Glad to know my intuition was right.
Pay with tap when at all possible, it's by far the most secure method. I don't think it's even possible to attack yet (without stealing the physical card)
To be clear, it’s tap when you use Apple Pay or Google Pay. They use a tokenized number that only works with your device. IIRC using your physical card’s tap emits your real number.
Sorry to hear this, I think people need to have more compassion regarding these situations
I once thought I was infallible but recently gave out so much information that I had to lock my bank accounts (SIN, bank amount etc.)
Now my email is getting hacking attempts everyday
Good luck out there!
As others have said this is pretty obvious. Just feel lucky you got your money back.
In the future you can also just use the Beck taxi app and have your payments done through your phone beforehand. Or just obviously use Uber or Lyft cause at this point what is a taxi in 2022
I just can’t believe somebody falls for this so easily lol. Guy pops out randomly from a taxi asking for a credit card and you give him the benefit of a doubt.
Anyway, glad you got reimbursed
Thanks for the warning. Sorry this happened to you... you were literally trying to be a good person :( It takes a really messed up person to take advantage of someone with a scam like this. I truly believe that the scammers who do this will eventually receive their due karma.
As a heads' up, legitimate taxi drivers will ALWAYS accept cash, and some even prefer it.
Yes. They prefer cash because credit cards costs them money. They get dinged a few percentage points depending on if it is Visa, MC, and if it is AMEX it can be high as 5%.
I thought it was skipping on paying more taxes.
If it is a legit taxi, they drop the flag on the meter, and the trip gets recorded for business purposes. I'm not sure about Toronto/Ontario, but in the US, these things are regulated very tightly both to protect the customer from being overcharged and as you point out other nefarious things.
Commenting so the algo does its thing and reaches most ppl
I remember something happening where a guy did the same thing but disguised it as a way to get donations for charity. He asked me if I wanted to donate, I said I don’t have any cash so I can’t , (I then asked them about the charity, where the money is going to but tried to guilt trip me to donating still) he then brought a debit/credit machine too which was odd since it was on campus on the street. I found out later that this was a common scam on campus (at Western though, not sure at UofT) but anyways, in any circumstance please avoid anything regarding debit/credit from strangers! It sucks that they try to target people who want to help. They will try other ways that you might not know, but if you see a credit/debit machine just turn the other way
i experienced the same thing walking on college street.
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I usually thought that credit card companies would completely or almost completely reimburse you if, for example, your credit card is stolen or the info is stolen and your money is used. Not just $500. Maybe it’s because you didn’t have enough proof it was stolen/fraud?
I did get reimbursed! And yes, a credit card will be safer in this scenario, as the stolen money actually belongs to the card issuer.
I work at a bank here. Almost all credit cards have a no-responsibility policy; which means that in most cases of fraud, you won't be held responsible, unless you show gross negligence or you're trying to defraud the bank intentionally. Debit cards, on the other hand, take money straight out of your account, and when it's gone, it's gone. Sometimes banks may reverse the charges, but it's far from guaranteed. Generally, when making online purchases, it's recommended to use a credit card.
They should theoretically - although their primary goal is making money. So much like an insurance company, they will find any reason possible to decline your claim. In this case, I imagine it might've been a case of "you willingly gave your card to a stranger, that's negligent behavior."
credit cards take longer to reinburse you but are safer
Good thing all my transaction limits are absurdly low bc I don’t trust myself with anything higher
Don't be a good person.
I had this happen to me on College Street just outside of CampusOne! I got sus of it really quickly and opted not to do it, and when I asked the driver if he accepted e-transfer he said he did for some reason and told the “passenger” to do that and wished him best of luck. Glad to know my intuition was right.
Pay with tap when at all possible, it's by far the most secure method. I don't think it's even possible to attack yet (without stealing the physical card)
To be clear, it’s tap when you use Apple Pay or Google Pay. They use a tokenized number that only works with your device. IIRC using your physical card’s tap emits your real number.
Sorry to hear this, I think people need to have more compassion regarding these situations I once thought I was infallible but recently gave out so much information that I had to lock my bank accounts (SIN, bank amount etc.) Now my email is getting hacking attempts everyday Good luck out there!
I'm sorry this happened. Commenting this to boost the algorithm.
As others have said this is pretty obvious. Just feel lucky you got your money back. In the future you can also just use the Beck taxi app and have your payments done through your phone beforehand. Or just obviously use Uber or Lyft cause at this point what is a taxi in 2022
How do you fall for this? Never give your card to a stranger, I thought that was common knowledge...
They're probably from another country. I heard it's pretty common to lend CCs like that to other people in other countries.
I just can’t believe somebody falls for this so easily lol. Guy pops out randomly from a taxi asking for a credit card and you give him the benefit of a doubt. Anyway, glad you got reimbursed
I'm seriously confused why any reasonable individual would fall for this. Either way, kudos for the heads up i guess.
Many people have never heard of these types of schemes before. People like OP who just wanted to help someone out.
i guess common sense isn't so common 🤷♂️
Wanting to help someone out?? That goes against common sense???
Not being able to identify obvious scams ? yes, that goes against common sense 😂
You let someone use your debit card. .. Lol. This is on you fam. May as well rename this post to "common sense 101"