Chip and Spin

[katesage]

:!: :!:

 

Chip and SPIN

 

Chip and Pin has been with us for over a year now, but, has it reduced fraud?

 

Apparently not, if anything the risks are greater AND more importantly with the loss of the signature as 'proof' of a forged transaction, there is a higher likelyhood of the banks dumping the losses on the cardholders.

 

This website gives fascinating and intelligent insight into the risks and is a must read for all.

 

Did you know that you can request that your Credit/Debit card be signature/pin enabled? So in situations of risk, you can opt to sign instead of entering your pin.

 

Remote pin terminals in restaurants are not encrypted back to the base receiver, so anyone sitting nearby with a wireless laptop can pick up the card details.:o

 

The Chip and Spin website has not been updated since March 06, anyone with recent updates and help, please feel free to post here.

[pict]

Kate, Do you know which banks allow you to change to signatures as when I asked at the A&L they said it was not yet available.

[katesage]

As far as I understood it all card providers should offer this facility.

 

Perhaps you kind people out there could do a bit of checking for me? Ring up your card provider and find out if you are permitted to switch to a signature/pin card.

 

Thanks:)