Chip and Pin,call me stupid

Not fully secure until end of December.Lose the card,as I have,and you can still blag it at retailers 'I have forgot my number' and you can still sign!

Thats crazy on the run up to Christmas.

 

IIRC any retailer who takes a card payment that isn't 'chip and pin' at the moment is fully liable for any losses if it's a stolen or fraudulent card. They can't make any claim against the card issuer as they would if it had been a chip/pin sale.

I do find it funny the number of people I see who have their new pin number written down on a piece of paper or on their mobile phone when it comes to paying with the cards. Not really that secure is it.

 

I am not suer thats the case.The retailers have been told its ok until December,after that they are liable,at the moment,I dont think they are (even if the banks are they will still claim the signature doesn't match and squirm out of it)

My point isn't really the liability issue,its the pint that someone can still actually go and sign,I waited 2 days to see if my wallet turned up because I thought it was safe,because I did that I could be liable for any fraudulent transactions.

 

Hum, this will be interesting then, as Barclays, (low life waste of space) have STILL not issued me with a Chip 'n' Pin card, my card is valid till 07 so ya telling me I'll not be able to use it ?
Will not stop people using stolen card online though will it?

 

You can use it,but if its stolen,the thief could try it on and say they ahve lost their pin,and sign instead.I have no idea who the liability lies with.

 

OK I got off my butt and checked with google.

The liability lies with whoever hasn't upgraded to chip 'n' pin.
So if the retailer has a chip and pin reader then they're covered for pin and signature transactions.

So the signature is not dead yet.

I thought the Liability for the card holder was limited to £50 in total for all transactions that happened before the bank was notified of the theft/loss of the card. That's if the bank bothers to claim that back.

 

Nope,thats my point,the signature isn't daed yet but I should imagine that most people that get their card don't know that.

Btw,retailers get screwed on fraudualent sigs,the card company just claim the signatures don't match and the cost goes to them.

 

Is the pin the same as the one you'd put in on a cash machine? Or is it a seperate one? If so, I've no idea what mine is

 

You can change it to whatever you like

 

Yep, exactly the same.