📰 Source: upgoat.net | Upgoat

✍️ Original author: UncleDoug

⬆️ score: 21

v/GoFraudMe · by u/UncleDoug

📝 Original content:

Coin clipping is an ancient form of monetary fraud where someone shaves tiny amounts of metal from the edges of a precious metal coin and spends it at face value. It is entirely a historical practice and does not happen with Visa transactions.

A 1.7% surcharge is common for Visa and EFTPOS credit transactions through point-of-sale providers like Stripe.

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