MSE News: MPs call for cheque guarantee card return

TheTruthMachine

2sides2everystory wrote: »

But the banks don't do that, do they? My elderly parents lives have been temporarily on hold this last week whilst they wait for a PIN reminder or new PIN (they don't know which they are to expect).

I see you have ignored my comment regarding the fraud risk?

Can't they go to the bank withdraw some money?

masonic

2sides2everystory wrote: »

But the banks don't do that, do they? My elderly parents lives have been temporarily on hold this last week whilst they wait for a PIN reminder or new PIN (they don't know which they are to expect).

Banks have an obligation to offer these Chip & Signature cards to customers that let them know they had difficulty with PINs. If your parents' bank refuses to play ball, then it is worth pursuing a complaint or changing bank.

2sides2everystory

TTM, banks moan about the fraud risk when it suits their agenda. Has that caused them to stop issuing credit cards the way they do? Not a bit of it. They've simply built the absolutely massive fraud cost into their CC pricing and are lapping up a huge CC fraud turnover every single day, none of it reported as crime, all of it grist to a bankers mill.

My parents did manage to get some cash out by identifying themselves with a drivers license (many elderly do not have passports - some do not have drivers license either do they?). However, they clearly see it as a bit inconvenient to have to go through the process again without their PIN so they are waiting for it to drop on to the doormat. My father has great difficulty walking, and parking is difficult ... these things all conspire to make routines difficult, and elderly people like routines, don't they?


Are you saying masonic that there is a rule that my parents should have been voluntarily offered a Chip and Signature card last week?

They can't change bank because it is the only one in the nearby town, and besides, they have never changed bank before in their lives - why would anyone need to?

masonic

2sides2everystory wrote: »

Are you saying masonic that there is a rule that my parents should have been voluntarily offered a Chip and Signature card last week?

It depends exactly what was said in any discussions. Not knowing that there might be an alternative, your parents might not have asked if there was one. Certainly if your parents explicitly ask for Chip & Signature for a genuine reason and are refused it, then that's grounds for complaint.

This used to all be covered under the Banking Code. All banks were signed up to it and agreed to offer Chip & Signature. Even though the Banking Code has been changed to the Lending Code and no longer covers debit cards, nothing should have changed. There is still a legal obligation under the Equality Act/Disability Discrimination Act and the Financial Ombudsman has made it clear through several rulings that they will find in the favour of the customer if banks have failed to offer customers about Chip & Signature when it was appropriate for them to do so.

They can't change bank because it is the only one in the nearby town, and besides, they have never changed bank before in their lives - why would anyone need to?

I've changed bank 3 times in the last 4 years. If I'm not getting what I want, I move. But I live in a large city and have many to choose from (not that I visit the branch more then once or twice in a year).

JuicyJesus

2sides2everystory wrote: »

Actually masonic when I read your post last night I meant to say at first reading I quite liked the idea.

Interesting how you didn't say that when it was first pointed out 5 DAYS AGO as an already-extant alternative:

JuicyJesus wrote: »

Even if they have a disability that prevents them from using a PIN, they can still use chip and signature, which is functionally the same as a cheque with none of the drawbacks.

Must be that repulsive username of mine. But hey, at least you don't believe my views on a payment method make me a Nazi who wants to kill all the old people.

2sides2everystory wrote:

Oh so you are a solutions man, eh? Got any final ones for old people, or is that it?

Well, sh*t.

TheTruthMachine

2sides2everystory wrote: »

TTM, banks moan about the fraud risk when it suits their agenda. Has that caused them to stop issuing credit cards the way they do? Not a bit of it. They've simply built the absolutely massive fraud cost into their CC pricing and are lapping up a huge CC fraud turnover every single day, none of it reported as crime, all of it grist to a bankers mill.

I take it that its okay for them to write their PINs down and do other things that make it easy for fraudsters? If they write their pin down they should be liable like everyone else?

I see your parents are bad on their feet having to go to the bank. How would cheques have solved this hardly anyone accepts them.


I also agree if they want to use cheques then they should be made to pay to use them

2sides2everystory

Who said anything about writing down PINs? Who on earth started that nonsense? Oh bless me, it was the banks - most of them still insist on writing them down then posting them to customers with all the postal interception fraud that invites

I wasn't asking for a solution for bad feet TTM, just telling a story about how some senior citizens prefer to stick to their routines rather than have them broken.

They already pay far more than you do. Their money in the bank is being creamed off daily without them spending it. Just the way the banks like it.

pinkdalek

2sides2everystory wrote: »

Who said anything about writing down PINs? Who on earth started that nonsense? Oh bless me, it was the banks - most of them still insist on writing them down then posting them to customers with all the postal interception fraud that invites

.

You are missing the point, the bank sends a PIN to you in the post, true it is printed, well how else are you supposed to get it? True the letter can be intercepted in the post, but what use is a 4 digit number without the card to go with it? The point other posters have made is some people stupidly write their PIN down and keep it with them WITH THEIR CARD in their wallet/purse.

A PIN sent by mail can be cancelled and a new one issued.

You seem to have an issue with banks in general, you seem to blame them for everything that has happened, maybe I suggest you start opening your own bank, with its own ideas and ethos and best practices, see how you get on, afterall you obviously are so knowledgeable and wise in the banking and financial industry, you have such a good rapport with everyone (as is demonstrated by your posts) I am certain the public would love you.

Please though have one of these on me :beer: and chill there is far more in life to worry about isn't there.

2sides2everystory

Are you aware of how much banking fraud relies on banks sending cards, statements and PINs via normal post? Are you aware of how easily fraudsters tempt some banks to send out new PINs AND cards for them to intercept?

There is an argument that it is so bad that banks should already have stopped using the normal post entirely and perhaps have set up secure collection points in their branches instead. But if they did that, they wouldn't have a reason for charging such high interest, their turnover would reduce by about 20% in some parts of the country and they would have then have the direct cost of running a secure collection point in each branch.

Do you not think banks and major financial companies in general have a teenzy bit to do with the dire state of the world economy, pinkdalek?

Who taught you about the word 'rapport' in business?

Do you think our banks have good rapport with their customers?

What are you worried about?

pinkdalek

2sides2everystory wrote: »

Are you aware of how much banking fraud relies on banks sending cards, statements and PINs via normal post? Are you aware of how easily fraudsters tempt some banks to send out new PINs AND cards for them to intercept?

There is an argument that it is so bad that banks should already have stopped using the normal post entirely and perhaps have set up secure collection points in their branches instead. But if they did that, they wouldn't have a reason for charging such high interest, their turnover would reduce by about 20% in some parts of the country and they would have then have the direct cost of running a secure collection point in each branch.

Do you not think banks and major financial companies in general have a teenzy bit to do with the dire state of the world economy, pinkdalek?

Who taught you about the word 'rapport' in business?

Do you think our banks have good rapport with their customers?

What are you worried about?

What am I worried about? Err nothing much to be honest. My point was you obviously have demonstrated such good rapport on here with other posters that maybe you should set up your own bank with its own ideas and ethos, you know you could maybe teach the banking industry a thing or two. Afterall you seem to have demonstrated that you can communicate so well with other people on a mutual level that warrants respect and integrity.

Regards banks posting out mail, if mail is getting intercepted then surely the root of that is within the mailing system.

Seriously though you really need to take a look at the real world, back to the original post, why reintroduce something that is becoming obsolete and there is now currently a system in place which works just as well if not better.

Like I said earlier have one of these :beer: and be grateful for what you have.