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Attention everyone must read this

#1 by Sheldonboy , Sat May 18, 2013 8:32 am

This could be lethal if you didn't check your bank
http://m.bbc.co.uk/news/business-22545804


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RE: Attention everyone must read this

#2 by phil ( deleted ) , Sat May 18, 2013 11:19 am

Bank technology is getting too smart for itself. I can't even see the need for this new system. I understand that there are new aluminium card holders you can buy to stop this sort of thing happening. They also stop the criminal fraternity from getting up close and using card readers to clone your card.

phil

RE: Attention everyone must read this

#3 by Voltman , Wed May 22, 2013 8:20 pm

This is exactly what I was expecting from such a bone idle way of paying for things. It's like pinning money to your clothing and inviting passers by to help themselves.
Not exactly lethal though.


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RE: Attention everyone must read this

#4 by Sheldonboy , Wed May 22, 2013 9:11 pm

Quote: Voltman wrote in post #3
This is exactly what I was expecting from such a bone idle way of paying for things. It's like pinning money to your clothing and inviting passers by to help themselves.
Not exactly lethal though.


That would depend on how much money someone has and how much is taken.


I started out with nothing and I've still got most of it left.
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RE: Attention everyone must read this

#5 by Voltman , Thu May 23, 2013 8:20 am

Ok SB, if one was so stupid as to have more than pocket money in an account that is so easily accessed, such as by a passing scanner, then perhaps one is at risk of death from a variety of trivial things.
The whole idea breaks three of my rules for avoiding financial suicide.

Don't use a debit card as a means of payment, not anywhere for any reason.
Don't leave more than pocket money in a current account, they don't pay interest and are the most insecure.
If a card is required for payment ensure it is a credit card, the credit card company can pay out to whoever they like but I'm only responsible for my own transactions.


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RE: Attention everyone must read this

#6 by Sheldonboy , Thu May 23, 2013 1:29 pm

This is nobody being stupid, these are cards given by banks supposedly secure which customers shoulfd be able to trust. I for example use a ba bank machine in the week so that I can access my millions.
Most people carry a card these days, I use no credit cards at all but my money can still be taken from my debit card in pubs, shops etc. You can be several feet away and your card still hit.


I started out with nothing and I've still got most of it left.
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RE: Attention everyone must read this

#7 by phil ( deleted ) , Thu May 23, 2013 2:21 pm

It's a fact of life now that most people do not like carrying wads of cash around with them and debit cards are a useful tool that are more or less accepted everywhere. I abhor credit cards because I have seen the damage they can do to weak minded individuals. I know all about the fact that they can be used without charge if used correctly, the fact is credit card companies would not exist if everybody used them correctly.

After saying that I am not well pleased with this latest technological advance and I am not pleased with the fact that I was not consulted to find out if I even wanted one of the new cards. It just arrived in my letter box one day along with instructions to destroy the old one.

As for only leaving a few quid in our joint current account, that would be marital suicide as my wife can go through a grand without breaking into a sweat, in fact when our account was hacked a few years back and they took up to nearly a grand over our overdraft limit I was quite pleased because they had spent less than my wife would have done in the same time.

phil

RE: Attention everyone must read this

#8 by tca , Thu May 23, 2013 2:36 pm

this really is an intresting subject - ive never had a debit card, but I do use my amex for almost everything, if a place wont accept it i use my master card or last resort my visa card. why? points, i dont carry more that a few dollars any time, coffee and cake use the card, the last time I came home to the UK we flew buisness class for the wife and I - all on points. I understand that some people cant control their spending - no more than some cant control their gambling or drinking, yes theres an eliment of chance that you get a card scanned without your knowlege, but it can be double swiped at the pub, lots of chance to get done over, u just take care - cover the keypad at ATMs - dont let a waiter take your card get up and go to the cashier and watch the swipe. you can buy small alimium cases if your that worried. luckily my bank and amex watch the patterns of my spending and any unusual spending flags a warning and they ring me. i used to worry particularly my amex as its a charge card not a credit card, which means it has no limit, but ive given up worrying better things to do.


 
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