If you used your Visa, Mastercard credit card or debit/ATM card, or a Diners Club card, to make a foreign transaction between Feb. 1, 1996 and Nov. 8, 2206, you may have the right to a refund of all or part of the related foreign transaction charges. You can learn more at

http://www.ccfsettlement.com

 

 

Real or an attempt at account or id theft?

Real or an attempt at account or id theft?

 

I am now working in the city where the alleged law firm linked to this Class Action Suit is located. I plan to call them Monday and possibly pay them a visit to see if this is on the up and up. At least, if they are not associated with this matter they should know that their name is associated with possible fraudulent activity.

ITS ON THE LEVEL

 

I received a claim form from my credit card company with my last statement.

Havent gotten around to filling it out since I have to go thru a bunch of old bills and it will take hours.

 

The website is the same as on the claim form.

 

 

Actually the "fraud" is much more subtle. From the claim form:

"The lawers for the class members will request 27.5% of the $318,000,000 expected to be left in the settlement fund after deducting costs for administering the settlement and notice, plus interest, for attorneys' fees for investigating the facts, litigating and resolving the case. They will also request reimbursement of their expenses, not to exceed $5,000,000 to be paid from the settlement fund."

 

hmmm, $87 million PLUS another $5 mil for expenses. B)

 

Nice work if you can get it!

A few years ago I visited Mexico. When I received by credit card statement for a hotel stay, I did some quick research and learned the exchange rate differed from the "interbank" rate (standard rate banks use for foreign currency transactions). The difference amounted to about $14 and I complained to credit card company. They quickly credited my card for the amount. I had it happen again on a few other foreign charges but the difference amounted to only $3 or $4 in each case.

 

What the banks were doing was simply using a higher rate. Most people never check what the interbank rate was on the day their charge was posted. You can check the interbank rate for any currency on any day at this website:

 

http://www.oanda.com/convert/fxhistory

 

It's a great scam and I'm sure some banks are still doing it.

 

The other thing you want to keep in mind: whenever you sign a foreign transaction charge slip, be sure the amount is in the local currency (not your home country currency). If, for example, it was in dollars or pounds, the bank would get to convert it twice (first from your currency back to the local, and then back again to your currency.

ITS ON THE LEVEL

 

I received a claim form from my credit card company with my last statement.

Havent gotten around to filling it out since I have to go thru a bunch of old bills and it will take hours.

 

 

I got my claim form yesterday with my credit card statement also. I am glad this thread was here because I may have tossed it otherwise. Getting around to filling out is a different story.