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Rick Saldan is an excellent
inspirational speaker who tailored the seminar to the needs of the
individual students being instructed. This office thanks the Mayors Office
of Information Services for having such a vendor.
Timothy K. Lynch
Office of Fleet Management
City of Philadelphia
Rick has a magical approach that provides a clear and
concise message specifically designed to the needs of his
audience. Rick will provide all the motivational magic you
will ever need, propelling your organization to the next
level of greater success.
Thomas Mulhern
Frontier Communications
Rick Saldan is a compelling and absorbing motivational speaker and
magician.I have been to five of his
Motivational Magic presentations and it is amazing how he keeps our
college audiences on the edge of their seats.
A highly entertaining performer with great comedy flair. Rich content to
increase students' productivity, peak performance and motivation. If you
need an outstanding motivational speaker for colleges, Rick is definitely
one of the world's greatest speakers and magicians!
Dr. Rob Gilbert, Sport Psychologist,
Montclair State University
Rick Saldan has the wit, wisdom and sorcery of a wizard. He
has a dynamic personality, and all will enjoy his
captivating stories, comedy and magic!
Dennis Slaughter
Credit Suisse First Boston
Rick Saldan delivers a first-class show! A pro in every
sense of the word. Funny, unique, entertaining and polished.
Brian Letscher, Actor
Hawaii Five-O, NCIS, Cold Case, Law & Order and The Mentalist.
Rick Saldan is a wonderful combination of master magician, comic
improviser and first class speaker. The audience loved his program, which
was music to our ears. If you love celebrity motivational speakers such as
Tom Hopkins, Dale Carnegie and Zig Ziglar, then you'll love Rick!
Dottie Burman, President
Burtley Productions, Inc.
Rick Saldan
is an incredibly talented performer and motivational speaker with great insight. He shares many powerful
motivational messages that will enhance your life for the better!
Jack Murray, President
Dream Illusions
Rick is one of the best inspirational speakers on
the scene today. Funny, fun loving and highly energetic. If you want to
make your next event into an extraordinary one, then invite professional
speaker Rick Saldan and his amazing Motivational Magic.
Andres Lara, President
Inspiration Times Magazine
Alice in Credit Card Land Author: Sam Vaknin
Your credit card is stolen. You place a phone call to the number provided in your tourist guide or in the local daily press. You provide your details and you cancel your card. You block it. In a few minutes, it should be transferred to the stop-list available to the authorization centres worldwide. From that moment on, no thief will be able to fraudulently use your card. You can sigh in relief. The danger is over.
But is it ?
It is definitely not. To understand why, we should first review the intricate procedure involved.
In principle, the best and safest thing to do is call the authorization centre of the bank that issued your card (the issuer bank). Calling the number published in the media is second best because it connects the cardholder to a "volunteer" bank, which caters for the needs of all the issuers of a given card. Some service organizations (such as IAPA - the International Air Passengers Association) provide a similar service.
The "catering bank" accepts the call, notes down the details of the cardholder and prepares a fax containing the instruction to cancel the card. The cancellation fax is then sent on to the issuing bank. The details of all the issuing banks are found in special manuals published by the clearing and payments associations of all the banks that issue a specific card. All the financial institutions that issue Mastercards, Eurocards and a few other more minor cards in Europe are members of Europay International (EPI). Here lies the first snag : the catering bank often mistakes the identity of the issuer. Many banks share the same name or are branches of a network. Banks with identical names can exist in Prague, Budapest and Frankfurt, or Vienna, for instance. Should a fax cancelling the card be sent to the wrong bank - the card will simply not be cancelled until it is too late. By the time the mistake is discovered, the card is usually thoroughly abused and the financial means of the cardholder are exhausted.
Additionally, going the indirect route (calling an intermediary bank instead of the issuing bank) translates into a delay which could prove monetarily crucial. By the time the fax is sent, it might be no longer necessary.
If the card has been abused and fraudulent purchases or money withdrawals have been debited to the unfortunate cardholders' bank or credit card account - the cardholder can reclaim these charges. He has to clearly identify them and state in writing that they were not effected by him. A process called "chargeback" thus is set in motion.
A chargeback is a transaction disputed within the payment system. A dispute can be initiated by the cardholder when he receives his statement and rejects one or more items on it or when an issuing financial institution disputes a transaction for a technical reason (usually at the behest of the cardholder or if his account is overdrawn). A technical reason could be the wrong or no signature, wrong or no date, important details missing in the sales vouchers and so on. Despite the warnings carried on many a sales voucher ("No Refund - No Cancellation") both refunds and cancellations are daily occurrences.
To be considered a chargeback, the card issuer must initiate a well-defined dispute procedure. This it can do only after it has determined the reasons invalidating the transaction. A chrageback can only be initiated by the issuing financial institution. The cardholder himself has no standing in this matter and the chargeback rules and regulations are not accessible to him. He is confined to lodging a complaint with the issuer. This is an abnormal situation whereby rules affecting the balances and mandating operations resulting in debits and credits in the bank account are not available to the account name (owner). The issuer, at its discretion, may decide that issuing a chargeback is the best way to rectify the complaint.
The following sequence of events is, thus, fairly common :
1. The cardholder presents his card to a merchant (aka : an acceptor of payment system cards).
2. The merchant may request an authorization for the transaction, either by electronic means (a Point of Sale / Electronic Fund Transfer apparatus) or by phone (voice authorization). A merchant is obliged to do so if the value of the transaction exceeds predefined thresholds. But there are other cases in which this might be either a required or a recommended policy.
3. If the transaction is authorized, the merchant notes down the authorization reference number and gives the goods and services to the cardholder. In a face-to-face transaction (as opposed to a phone or internet/electronic transaction), the merchant must request the cardholder to sign the sale slip. He must then compare the signature provided by the cardholder to the signature specimen at the back of the card. A mismatch of the signatures (or their absence either on the card or on the slip) invalidate the transaction. The merchant will then provide the cardholder with a receipt, normally with a copy of the signed voucher.
4. Periodically, the merchant collects all the transaction vouchers and sends them to his bank (the "acquiring" bank).
5. The acquiring bank pays the merchant on foot of the transaction vouchers minus the commission payable to the credit card company. Some banks pre-finance or re-finance credit card sales vouchers in the form of credit lines (cash flow or receivables financing).
6. The acquiring bank sends the transaction to the payments system (VISA International or Europay International) through its connection to the relevant network (VisaNet, in the case of Visa, for instance).
7. The credit card company (Visa, Mastercard, Diners Club) credits the acquirer bank.
8. The credit card company sends the transaction to the issuing bank and automatically debits the issuer.
9. The issuing bank debits the cardholder's account. It issues monthly or transaction related statements to the cardholder.
10. The cardholder pays the issuing bank on foot of the statement (this is automatic, involuntary debiting of the cardholders account with the bank).
Some credit card companies in some territories prefer to work directly with the cardholders. In such a case, they issue a monthly statement, which the cardholder has to pay directly to them by money order or by bank transfer. The cardholder will be required to provide a security to the credit card company and his spending limits will be tightly related to the level and quality of the security provided by him. The very issuance of the card is almost always subject to credit history and to an approval process in Europe. Unfortunately, the same cannot be said about credit card issuers in the USA. This lackadaisical vigilance, the monpolistic practices of certain credit card companies, the Kafkaesque procedures and the arbitrariness of the results - put both merchants and credit card holders at risk. Whatever it is that credit card companies provide - it is not guaranteed payment or secure refunds.
Sam Vaknin is the author of "Malignant Self Love - Narcissism Revisited" and "After the Rain - How the West Lost the East". He is a columnist in "Central Europe Review", United Press International (UPI) and ebookweb.org and the editor of mental health and Central East Europe categories in The Open Directory, Suite101 and searcheurope.com. Until recently, he served as the Economic Advisor to the Government of Macedonia.
