12 safety tips when buying online

MANILA - Do you often purchase from online shops? Here are some tips to make sure you are buying from legitimate businesses.

The Department of Trade and Industry (DTI) reminded consumers to be wary of bogus sellers and to be careful when making online transactions.

"Once again, the department reminds consumers to be extra careful in getting into online purchases than be sorry after and realize that they were deceived or short-changed," DTI-Consumer Protection Group (CPG) Undersecretary Atty. Victorio Mario A. Dimagiba said.

Nielsen Global Survey of E-Commerce stated in its recent release that the number of Filipinos purchasing online are increasing. Filipinos who are showing interest to online purchases are at the same number as Singaporeans and Vietnamese.

However, there is also an increase in the number of complaints. The DTI said that it has received a total of 612 complaints from consumers since January 2013. The DTI has already resolved 378 or 62%, while 174 or 28% were dismissed.

On the other hand, he department also reminds online merchants to register business names with DTI or SEC, and to properly operate as an enterprise.

Dimagba reminded online merchants that they are considered the same as other businesses not on a similar platform.

"It just so happens that online merchants are doing business through the internet, which is another platform in conducting business today," he said.

12 tips

To make sure online purchases are being done properly, DTI listed the following tips for consumers:

1. Use your own computer/laptop to do your shopping to ensure that nobody else has access to your personal data and accounts.

2. Install and update your computer's anti-virus/anti-malware program for optimum protection against internet security threats and hackers.

3. Use a password that cannot be easily guessed. Mix alphanumeric and special characters in creating your password.

4. Check for the contact information of the website and validate them to know that they exist and if they can address your queries and/or complaints.

5. In searching for bargains in online classified websites, make sure that you transact with legitimate and trusted sellers. Read customer feedbacks and testimonials.

6. In making online payments, transact with a website that uses an SSL (Secure Sockets Layer) encryption. If a website has SSL installed, the URL starts with "https" instead of just "http".

7. Read the privacy policy statement. Learn how online shops handle and secure the information that you will be providing them.

8. Do not give too much information. Provide only what is required and leave the rest blank.

9. Do not be deceived by huge discounts. Contact the website or the merchant to validate the offer. If the deal seems unrealistic, it is more likely a scam.

10. Look for the DTI Sales Promo Permit Number especially in online shopping websites that offer promos like that of group buying sites.

11. Read and understand the terms and conditions and payment methods.

12. Log-out your account after every transaction.

source: www.abs-cbnnews.com

Choosing the right plastic: When to go credit or debit

MANILA, Philippines - Have you ever opened your wallet and wondered if you should use your credit card or debit card? Both provide the convenience of cashless transactions and make paying a breeze. Like many cardholders, you have probably asked yourself when it makes sense to use one over the other.

Although they offer similar features, credit cards and debit cards are not as alike as you think.

Credit cards are issued by banks or credit card companies. To get one, you go through the whole process of applying for a card and proving your capacity to pay. When you use a credit card, you are doing so with borrowed funds that must be settled in full or partially on your next payment due date.

On the other hand, debit cards can only be issued by banks. To get a debit card, you have to open a savings or a checking account. The ATM card which you use to withdraw money is the same card you will use for debit transactions. When you use a debit card, you are using funds you already have in your own account.

If you own both, there are instances when using one makes more sense than the other.

Use your credit card when:

You are shopping online. 

Credit card companies offer security features that would be especially useful when you are shopping online. When you make an online purchase using your card, there is a lag time during which a verification of the purchase is made, allowing you to dispute a charge. Further, credit card companies can offer insurance against fraudulent purchases for a nominal fee.

You need to buy time between purchase date and payment date. 

When your cash is tight but you need to make an immediate purchase, say for emergencies or for important items such as medicine or tuition fees, then your credit card will be most helpful. It gives you the extra elbow room right when you need it.

‘Gives’ is your best option. 

Credit cards allow you to amortize payments over a period of time, ranging from as low as 3 months to as long as 2 years. During promotional periods, you can avail of 0% payment terms which allows you greater flexibility in setting budgets. In contrast, this cannot be arranged when you use a debit card.

You want to buy goods to be used in the future. 

For purchases like tickets and hotel bookings that are meant to be used in the future and may be rebooked or cancelled, credit cards make a better choice. Should your plans change, you will be able to get your refund through a reversal of charges on your credit card.

You want to make a recurring payment. 

When you want to make regular automated payments, usually for payments made for subscription, utilities, service providers, or voluntary donations to a charitable organization, it makes more sense to use a credit card. This is particularly helpful when you want to stop the recurring payment, with the card company able to reject payments billed by the merchant.

Use your debit card when:



You don’t have enough cash in your wallet for small purchases. 

A debit card is a convenient tool to have. It acts like an extension of your wallet, saving you from having to make that trip to the ATM machine to withdraw money.

You don’t want to rack up additional debt. 

When using a debit card, you are actually using money that you already have. Using it allows you to control your spending and live within your means. If you want to cut down on borrowings but don’t want to carry cash, then you should use your debit card.

You want to withdraw money abroad. 

Sometimes it is cheaper to withdraw foreign exchange from your own account once you to get to your destination instead of charging your credit card. This is because conversion rates for withdrawals are sometimes lower than that charged by credit card firms. However, there may be corresponding charges for these withdrawals so it would be best to check with your bank and credit card provider before proceeding.

Whether you choose to pay with a credit card or make a debit card payment, you may be entitled to rewards or rebates. Credit cards regularly offer rebates and rewards. When you are keen to accumulate any of these, or when the rebates being offered are superior to that when you pay in cash, then a credit card makes a better choice.

As banks try to get more of its clients to pay with a debit card, they too are throwing in similar rewards, so in these instances, cash is no longer king. In any situation, always look for the best value for your hard-earned money.

source: www.abs-cbnnews.com

Before shopping online, read these tips

MANILA, Philippines – As shoppers rummage through the best buys and brave the crowds in mall and bazaars, an increasing number of internet-savvy consumers are now doing their shopping online.

The director of DTI-Bureau of Trade, Regulation and Consumer Protection Victor Dimagiba said that the online shopping community may soon compete with retail stores.

“Although internet commerce is still a very sunrise industry, it’s getting to be bigger and maybe at some point it will compete already with the person to person retail industry,” Dimagiba told ANC’s “On The Money.”

He said Filipino online shoppers frequent deal sites, online retailers, classified ads, and airline sites to check for good deals.

The more popular commerce site that offers daily discounts, according to Dimagiba, are Metro Deal, Living Social (formerly Ensogo), and Cash Cash Pinoy.

However, Dimagiba warns that buying products online requires discipline, due diligence, and control.

Since online shopping involves the use of credit cards, he said buyers have the tendency to go over budget because the transaction only takes a click of a mouse or a swipe of the finger.

He said shoppers should carefully read and understand the terms and conditions of the site, particularly on deal sites, before making a purchase.

“You have to read to be able to intelligently understand what the bargain is all about before you use your credit card,” he said.

Dimagiba said consumers should also ensure that the product they are getting is not counterfeit. Getting imitations is among the top complaints the DTI receives from online shoppers.

The government does not require a permit for online commerce, but bills have been filed in Congress to tighten the regulation of online businesses.

Until these bills are passed, Dimagiba said shoppers should be wary of dubious sellers.

He added that online sellers also have a responsibility to make the shopping experience convenient and safe for their buyers.

He said online commerce has to improve its after-sales service, as consumer complaints usually take weeks before they are addressed.

source: www.abs-cbnnews.com

Before buying products online, read this

MANILA -- Online shopping has saved a lot of consumers from long lines at a store cashier or from having to stand and walk around a shop to find that perfect shirt. But buying stuff online doesn't always bring consumers relief--some find it more stressful especially when the product they got is way different that what was advertised, or worse, when the shipment never arrives even after they have already paid.

Zenaida Maglaya, undersecretary at the Department of Trade and Industry, pointed out consumers should always check the validity of the online store they are purchasing from before clicking that "buy" button.

"Whenever they see anything online that is being offered, they should ask around first. Magtanong sa iba: kayo ba ay nakabili na dito? Did you try the services? Maganda ba ang produkto," Maglaya told ABS-CBNnews.com.

She noted that online shops or sellers usually have feedback forms that can come in handy for the buying public. One can check the comments from the shop or seller's previous transactions to be able to gauge if the entity is trustworthy.

"Pangalawa is you have to make sure kung ito ay discount or ito ay promo, dapat may DTI permit," Maglaya said.

"Importante ang permit kasi pag nagka-problema at hindi na ma-contact yung nagebebenta ng items, may traceability pa rin because we (DTI) have the address at kung sino sila," she continued.

Maglaya stressed consumers should be very careful when buying goods online. One should be responsible enough to verify first the credibility of the seller, at least through other friends or consumers who have had previous transactions with the shop or the person.

"Ang importante, wag basta-basta bibili lang pag mayroong nag-offer kasi yung iba diyan, fly-by-night na basta na-swipe mo na yung [credit] card mo, hindi na sila ma-contact o mahagilap," Maglaya said.

The DTI also heeds complaints from consumers with regard to defective products bought online or even for fraudulent transactions.

"An online shop is like any other store, just a different platform. So kung may reklamo, may dapat isauli, may panloloko, you can complain to DTI," Maglaya assured.

Various online shops have gained popularity in the Philippines and have even caught the eye of the tax bureau. These online stores are being preferred over physical shops as goods are deemed less expensive.

source: www.abs-cbnnews.com

How to Shop Online the Right Way

If you have a tight budget, the Internet is a wonderful option for helping you save money. When you spend your money wisely, you ensure that your finances will remain secure as you move into the future. But before you can take advantage of the wisdom of frugality you must internalize a few ground rules, such as the following:







Know the Difference between Need and Want

If you frequently go on shopping trips, you may run into temptation. You may spot an attractive purse or the newest gadget. However, do you truly need the item? It is necessary to know the difference between a need and a want. Consider where the item may end up once it reaches your home. Will it sit somewhere? Will you actually use it? If you believe that you do not truly need the item, move on and find something else. It may be difficult to take on this habit; with practice you will learn how to avoid tempting situations.

Look For Coupons and Sales

It is a terrific idea to look for coupons and sales if you wish to spend money wisely while online. It may be possible to obtain a coupon by joining a mailing list. If a person does not wish to give away personal information, it is also possible to visit websites that specialize in helping consumers find deals. You may learn about an upcoming sale, or you may come across advice and tips from fellow online shoppers.

Be sure to pay attention to the expiration date of a coupon. Do not assume that an item will remain in stock for the duration of the sale. Coupons may come in the form of promo codes. If you go to the Newegg website and obtain newegg promo codes, you may save money on electronics and office products. This is an excellent website to use in order to obtain practice.

Only Purchase from Reputable Websites

If you want to be safe while you are shopping online, only purchase from reputable websites. Some websites appear to be reputable and professional; however, if you give the website your personal information, you may run into a scam. You may lose a lot of money, and your deal may quickly turn into a nightmare. Read online reviews about a website and ensure that it is trustworthy. If you are not sure, do not buy from the website.

Many people shop online; it is not unusual for a person to talk about the deals available on the Internet. If you want to be smart and save money, the information above may help. If you are confused, do not be afraid to ask a loved one for assistance.

source: lifeandmyfinances.com