5 Ways to Avoid Being Scammed When Buying Electronics

Staten Island Commercial Bank warns of potential rip-offs


With the winter holiday season just weeks away, many consumers may be preparing to buy electronic products as gifts. But before your rush out to make a purchase, take some time to consider the reliability of the store you may be dealing with, advises Victory State Bank.

Rip-offs involving some electronic-product retailers are listed by the New York City Department of Consumer Affairs (DCA) as among the top everyday scams, says the financial institution, Staten Island’s only community-based business bank.

According to DCA, some electronics stores prey on customers, especially tourists, by selling refurbished electronics as new and trying to sell unwanted accessories or extra warranties that may not cover more than the manufacturer’s and retailer’s warranties.

Recently, some stores have been selling SIM cards with a special SIM card Agreement that consumers are required to sign. Then, in the event of data overage, consumers are charged high rates for usage.

To protect yourself, DCA recommends that you:

1)      Research the product you want to buy and compare prices before you shop.


2)      Only shop at an electronics store that has a DCA license.


3)      Check the refund policy before you pay, and take the box with you in case you need to return the item.


4)      Examine the product closely to make sure it’s not used or rebuilt and be sure it will work in your hometown.


5)      Get an itemized receipt and look closely for hidden fees or add-ons.


About Victory State Bank


VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.


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