koziy
(koziy)
54
I’ve had a lot of issues with them that I described in previous posts, but so far I have not been overtly ripped off by Banggood. What I don’t like is that it can take 2-4 weeks from the date of order to the time my money is returned to my bank account for a cancelled order, which benefits them and disadvantages me. If they do this systematically with thousands of customers, which I think they are doing, since it happened to 3 of 5 orders I placed within a short period of time, then they can artificially inflate their cashflow, which helps them pay for operational costs, payroll and so forth, with money they don’t have until their backlog of invoices from Chinese New Year start to get processed or whatever has to happen for them to get back into the black — I’m not a business expert, but I think I have an idea of how the scam works. Meanwhile, I went without that money and was unable to do what I might have wanted to do with it. Basically, they appear to be using their customers for 14-30 day loans at a 0% interest rate.