Avoiding Internet Fraud - Egg card

Geoffo_M

I've been looking for an alternative to my Egg card which will safeguard me from online transaction fraud. Verified by Visa, Clicksafe etc, but then I looked at the terms of the Egg card and it says that it will reimburse for any online fraud. Is this as good as it sounds. Does it mean that any fraudulent "card with owner not present" transactions are protected, or should I carry on searching?

gt94sss2

All credit card companies protect you from fraudulent transactions providing you have not been negligent.

If you want to use a card issuer which uses Verified by Visa or Mastercard SecureCode than that is up to you.

Personally, I don't like these systems - for one thing they only work with participating retailers and is another piece of information you need to remember which can be awkward if you have several cards)

Luckily, not all issuers use it or if they do, don't insist on it being compulsory.

Regards
Sunil

jonesMUFCforever

I have found Egg to be very good in regard to fraudulent transactions.
They have given me a telephone number to ring If I want to make a big purchase.

benf90

Just to let you know that Egg are bringing in verified by visa and the mastercard equivalent etc. If you follow the links on the above post to the UK section of verified by visa you'll see the Egg logo with 'coming soon..' under it.

It's been delayed several times but is currently in testing (staff accounts I think) and staff have been trained on it. Its meant to be the next couple of months that it will be rolled out to customers (more customers added each week/month).

What has been posted above is also correct, you're protected against fraud with any credit card but Egg also have a thing called the 'Egg Guarantee'... more info here:

http://new.egg.com/visitor/0,,3_89059--View_1949,00.html

Paul_Herring

ejones999 wrote: »

I have found Egg to be very good in regard to fraudulent transactions.
They have given me a telephone number to ring If I want to make a big purchase.

They've occasionally rung me after 'unusual' transactions (all legit I may add.)

jonesMUFCforever

Paul_Herring wrote: »

They've occasionally rung me after 'unusual' transactions (all legit I may add.)

I shall shortly be going to NY on holiday. I advised Egg of this and they have noted this on their records as obviously my spending patterns in NY will bear no relation to my normal spending.

They gave me a telephone number to ring if I wanted an 'anti referer' status on my card, meaning they will not stop any transaction in a 24 hour period for whatever the amount.

As for the Halifax I emailed them at the same time and am still waiting for a reply!

James

Internet Fraud:

Covered by the Banking Code 12.12

Unless we can prove that you have acted fraudulently or without reasonable care, your liability for the misuse of your card will be as follows:

If someone else uses your card details without your permission for a transaction where the cardholder does not need to be present (CNP), you will not have to pay anything.

The bottom line is you in theory shouldn't pick up the cost of this type of fraud.

IMHO you can uses someones card details to:

Transfer monies from a victims account to anothers (This is a matter for Banks knowing their customersJ).

Details can be used to purchase services, topping up mobiles, downloading movies etc.

Or more commonly to buy goods. And thinking about it logically nothing is lost until the goods are handed over to the fraudster.