Every time in my recent experience.
Clk Sec
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Yes, although you can fox a significant minority by telling them the Amex security code is four digits on the front of the card.
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Thanks, so this is normal practice? I was wondering if I'd been taken for a mug. Although they could only use the details to get something sent to the registered address, I expect there are some things this info could be used for online -- music / software downloads?
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dd, don't worry, what you describe is indeed normal practice, after all you are "proving" that you have the card BUT "Although they could only use the details to get something sent to the registered address" - not so. Some companies operate such a restriction but not all. My wife has twice had her credit card info used and some of the stuff bought was physical "stuff" which would have to be delivered. You'd think that would make it easy to nick 'em but does anyone bother to try? Fortunately the card company was on the ball and notified her of unusual purchases. Didn't cost her a penny, just the nuisance of a new card.
JH
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Thanks JH that's good to hear. I'll just pay some extra attention to my statements for a while
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I had £280 lifted off my card in this way in December. I spotted it and got the money back but it took some time to sort it out with my bank.
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If you haven't already, get internet banking which will allow you to check your balance/statement at any time.
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>>get internet banking
Perish the thought...
Clk Sec
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>>get internet banking Perish the thought...
Why do you say that? It works for me. Their websites are secure.
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Their websites are secure
If I can find an internet bank that guarantees that my money will be 100% secure, then I might give it a go. Until then I'll stick with my High St branch.
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Asking for the security code is added protection but if someone made of note of the details they could indeed use. Amazon for example will ship to an address other than the credit card one and online digital purchases like eBooks, MP3, etc.
I've purchased a few things on a credit card lately including an eBook from Amazon (Kindle therefore a USA purchase). All have been small purchases. Topping up a PAYG phone yesterday triggered a call from the card company immediately to check the last five transactions were genuine. And the call was automated/computerised.
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...Their websites are secure....
Theirs might be, but what about others?
When there were some unauthorised, but not internet-related, transactions on my debit card last year, one of the first things the bank asked was: "Do you have a paypal account?"
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When there were some unauthorised but not internet-related transactions on my debit card last year one of the first things the bank asked was: "Do you have a paypal account?"
I always ensure that my current account has the minimum amount in it for my routine needs of that particular month. Money to cater for non-routine needs is transferred into my current account at the last minute.
Edited by L'escargot on 26/01/2010 at 09:31
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...I always ensure that my current account has the minimum amount in it for my routine needs of that particular month...
Very wise.
In my case the unauthorised withdrawals came to about £650.
The money was in there, but even if it wasn't, I'm sure the bank would have made the payments on overdraft, authorised or not.
So that's the problem with keeping the minimum in, you may just end up with a fraudulent transaction and a load of charges.
...Non-routine needs are transferred into my current account at the last minute....
Again, very wise.
I have a large transaction to make in the next week or two and I aim to get the money in, and paid out, of my current account on the same day.
Ironically, card payments can help here, rather than using a cheque.
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>>I always ensure that my current account has the minimum amount in it for my routine needs of that particular month.
I must admit I have considered maintaining a modest balance in an internet based account just for monthly bills, etc, but no more than that.
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>>but no more than that.
It's a shame, though, 'cause I'm missing out on the better interest rates available for instant access.
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If I can find an internet bank that guarantees that my money will be 100% secure, then I might give it a go. Until then I'll stick with my High St branch. >>
I use Barclays, HSBC and Nationwide internet accounts for various reasons (helps to keep things tidy and separate). They all have different secure log in procedures, but I like Nationwide's the best. They all give "promises" but with the usual caveat that you will find when using High Street banking, i.e. you should not be careless.
www.nationwide.co.uk/security/how-do-i-stay-safe/
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Which is why, as I reported elsewhere, I use a top up pre pay credit card for remote (read internet or phone) transactions. That way you can only loose as much as you have topped up your card with.
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How does that stop someone from skimming your details in a "normal" transaction? Yes it's a bit harder if you're standing opposite a cashier but there was a lot of discussion here about a year ago about some filling stations in the SE where criminal staff were having a field day with credit cards.
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...How does that stop someone from skimming your details in a "normal" transaction?...
It doesn't.
Many retailers - including petrol stations - now have chip and pin machines facing the customer - only you handle your card, and it doesn't go out of your sight.
I think this method is fairly safe provided you only put the card in once and the transaction proceeds smoothly.
Having said that, I use cash more than I used to because there is a risk each time you swipe the card.
Also means my monthly bank statement is not cluttered with small transactions, making it easier to spot a wrong 'un.
Edited by ifithelps on 26/01/2010 at 11:58
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The filling station scam that caught me was a video camera with long lens focused on the Chip 'n' Pin keypad via a mirrored panel in the ceiling. Cash is definitely a good idea in urban areas
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>>The filling station scam
It's cash when I fill up, unless I'm in Sainsbury's, Tesco's or one of the others.
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And you get that cash from......................a cash point which can also be rigged to nick your details.
I don't know why everyone worries about cards so much. If your card gets scammed, the bank are liable provided you haven't been reckless with it. If you get mugged then your cash is gone and the bank certainly won't give it back to you.
I'm sticking with cards, thanks. I don't know anyone who has been scammed and the bank hasn't made good instantly. I do know a lot of people who have been mugged and lost a fair bit of cash. I carry as little cash as possible, which has paid off when I had my pocket picked once. Cards cancelled immediately, with no loss. Lost a small amount of cash (10 quid or so).
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>>And you get that cash from......................a cash point...
No.
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Then you have time during working hours to go and queue up in a bank for it, or get paid for your work/pension/whatever you use for income cash in hand.
Not the case for most of us.
But anyway, still don't see why anyone is so scared of card fraud. No individual bank customer ever loses out in a genuine case of card fraud. Happened to a bloke in my office last week. Noticed a 500 pound transaction at a high street electrical retailer which he knew he hadn't made. Called the bank. Phone monkey said: "Yes, we know about this scam, you're not alone", and made good his account there and then, card cancelled and new one issued. Get mugged for 500 pounds cash and that money's gorn.
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>>But anyway, still don't see why anyone is so scared of card fraud.
I use my credit card for almost everything I buy, but I do not use it in certain filling stations.
Get mugged for 500 pounds cash and that money's gorn.
Wouldn't dream of having that much in my wallet, but no chance of getting mugged at the cashpoint, then?
Clk Sec
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.......... no chance of getting mugged at the cashpoint then?
I get cash either in the form of cash-back from a supermarket or from a cashier inside the bank. I never need to use a cashpoint.
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I never carry cash.I suppose it's just a habit I have got into over the last decade.Living in the sticks there is cash machine close to hand and certainly don't have time during a short grabbed lunch break.
I had one of my credit cards scammed last year.The details were taken from a company trading on a well known online auction site and a clone of my card was used in Ireland.. I only use this particular card for internet purchases and the bank picked up the fraud before I had even noticed. The money from the fraud was instantly refunded to my card.
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...Their websites are secure.... Theirs might be but what about others?
I check my account online daily. I would know about any discrepancy (and take the appropriate action) within a few hours of it occurring.
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>>I check my account online daily. I would know about any discrepancy (and take the appropriate action) within a few hours of it occurring.
I thought retirement was all about an easy, carefree life!
Clk Sec :-)
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I thought retirement was all about an easy carefree life!
Knowing first thing in the morning that my bank account is in order gives me peace of mind for the rest of the day.
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I check mine every day, both current acc. and credit card. ( same bank )
Easy to do and keeps you inj the know. It's mainly to let me know what's gone in as my pittance comes from various sources.
I pay the majority of bills by On-line, usually on the day they drop through the door.
If I need cash, it's usually about £20 pocket money and I go into the bank or Post office for that..
Ted
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>>Until then I'll stick with my High St branch.>>
I have several on-line financial accounts and have made thousands of transactions, purchases etc over many years without any setbacks.
You get the same protection when buying goods (probably more if you include the Distance Selling Regulations) from your card company as if you have been to a shop.
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>>Until then I'll stick with my High St branch.>>
I'm solely referring to Banking there, Stuart.
We buy a lot goods on-line and have found the service excellent, and without any credit card problems.
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im not tempting fate so wont comment on buying by tinternet
However if you have a santander account then you can always use your post office to remove large wads of cash and there are still plenty about well after the banks have all shut
just use the pin machine at cashier no2 please and tell them what you want (dont wear a crash helmet though or you might get into trouble)
PS you could do this as you draw t pension
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