Verified by Visa may block your card if you don't opt in

James

clio wrote: »

But it is a good idea it only takes 2 minutes to enrol and it does protect the card user.

So do PINs

soolin

I wanted to use my Smile card online yesterday and was refused as I did not know what my memorable name was. I have never enrolled in this verification scheme so I clicked on the 'help' button, and it says it was an automatic sign up and the memorable name is the one I normally use to identify myself on the bank website. However Smile do not have a memorable name from me.

Blloming frustrating it was too, so I just sent Smile an email asking what they had signed me up for and how do I find my memorable name, and then used a different bank card.

normanmark

I dont see the problem with it. If it protects card holders from internet fraudsters then it can only be seen as a good thing, not 'another password to remember' - (How do those people manage with Pin's )

Chris2000

soolin wrote: »

I wanted to use my Smile card online yesterday and was refused as I did not know what my memorable name was. I have never enrolled in this verification scheme so I clicked on the 'help' button, and it says it was an automatic sign up and the memorable name is the one I normally use to identify myself on the bank website. However Smile do not have a memorable name from me.

Blloming frustrating it was too, so I just sent Smile an email asking what they had signed me up for and how do I find my memorable name, and then used a different bank card.

I got a letter from Coop Bank in June giving 30 days notice that they would be automatically enrolling me in VBV. It refers to www.co-operativebank.co.uk/verified and www.smile.co.uk/verified for more info.

DestroyingAngel_2

"Verified by Visa" is another way your cards are protected against fraudulent use. It's meant to deter thieves who have stolen your wallet/handbag and cards within, from using those cards to make online purchases. This is known as CNP transactions - i.e Card Not Present. With CNP transactions, the PIN number is not required, which makes it easy for thieves to use your stolen card. Signing up for "Verified by Visa" is one way for Visa to know that it is indeed you who's attempting to make an online purchase with your card.

I don't understand the moaners who fail to see this move by Visa as a positive one, rather than another inconvenience.

Inactive

But it isn't just VBV, it is Mastercard as well, with different password sites for Credit cards to the Debit Card one, so that makes at least 3 more passwords to remember, as well as extending the transaction times.

This is all getting a bit silly now IMO.

amcluesent

> It's meant to deter thieves<

Err, not really. Like chip'n'pin it's meant to make it easier for the bank to deny liability for fraud and pass the losses to the customer. Since VbV requires a password only you know, then any problems and the bank can argue you must have shared the password with spouse etc.

TBH, I can't understand why systems like the cahoot webcard aren't widely used, where the on-line application generates a one-use card # and you can define the maximum value for each transaction.

antuk

Inactive wrote: »

But it isn't just VBV, it is Mastercard as well, with different password sites for Credit cards to the Debit Card one, so that makes at least 3 more passwords to remember, as well as extending the transaction times.

This is all getting a bit silly now IMO.

VBV and Mastercard's SecureCode are the same thing, Visa and Mastercard joined developed it together...

Inactive

antuk wrote: »

VBV and Mastercard's SecureCode are the same thing, Visa and Mastercard joined developed it together...

It still needs at least 3 passwords, it doesn't make any difference who owns/runs it.

Inactive

amcluesent wrote: »

> It's meant to deter thieves<

Err, not really. Like chip'n'pin it's meant to make it easier for the bank to deny liability for fraud and pass the losses to the customer. Since VbV requires a password only you know, then any problems and the bank can argue you must have shared the password with spouse etc.

TBH, I can't understand why systems like the cahoot webcard aren't widely used, where the on-line application generates a one-use card # and you can define the maximum value for each transaction.

100% agree..:T