A $49.90 transaction appeared on my bank statement which I did not recognize. I do my banking online so I caught this transaction in the "Pending" stage. When I discovered that this company did not exist, I contacted the bank and asked them to stop payment on this transaction.
They told me they could not do anything until it had cleared at which time I could file a claim to be reimbursed.
What I find more remarkable than how easy it is for a nameless/faceless company to request and receive funds from a consumer's bank without a consumer's authorization is that it can't be stopped before the transaction is complete. The banks and credit card companies have no process in place to deny these criminals payment on any request they make.
This company does not exist but, worse yet, a system does not exist to protect us from the criminals that take our money and leave us with no recouse but to file and claim and, oh by the way, who pays for it when we finally do get whole? Not the criminals that took our money in the beginning.
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