Money Talks Podcast: Can you get your money back when purchases fall short?

Here’s an extract from the discussion: &nbsp,

Andrea Heng: &nbsp,
So, here’s one space that we do n’t often talk about when we talk about when we talk about making protected purchases. That is the virtual room. I’ve previously been persuaded to purchase anything on TikTok Shop. To be safe, I made certain it costs no more than S$ 5.

Others, though, (are ) not so lucky, not so prudent. They are spending a lot more cash on video purchasing, what they call” shoppertainment”. And I noticed a lot of these stores, they are either not based in Singapore, or they are distributed through these TikTok celebrities and these companies. Because they’re home-based and modest, they’re not truly registered. &nbsp,

So how do we understand this incredibly hazy buying area here? What kind of assistance is available if we want to get compensation for an inadequate purchase made online?

Linus Ng: &nbsp,
This is the pattern that we have truly witnessed in recent years, to be sure. Additionally, you’re very wise to limit your injury to a manageable sum, like S$ 5.

We have actually received a lot of issues for this kind of statements, which is basically when they go through what we call a social media company. That in itself, we would n’t encourage, but we can see that ( it’s ) not something that someone can stop. Because when it comes to the ease of buying, you sit back, you look at a computer, you know, and if someone is actually entertaining you with that kind of livestream, and there is this little bit of FOMO ( fear of missing out ) kind of mentality, you know,” I do n’t want to miss out”.

There are like, five ( products ) left, and you have 15, 000 people asking for it, and then they are pushing for it. &nbsp,