Forget your Pin? Don't worry, banks are letting payments through without it - The Telegraph

[anon4562461]

Well look at that! Banks just don’t care about pins now.

Forget your Pin? Don't worry, banks are letting payments through without it

[HoddzDJ]

Wait, what? Craziness!

Do folks even still sign their card these days? We should just be born and a chip implanted in our wrist and linked to payment cards. How cool would that be? Yup, I’m heading to the patent office, back shortly.

[Kumnaa]

Isn’t this just basically contactless without the contactless?

The article says much higher than £40 and the transaction won’t go through.

For £30/40 I’m not sure why we need to enter a pin anymore when inserting the card if we don’t have to when tapping?

[alexs (Alex Sherwood)]

@Kumnaa

For £30/40 I’m not sure why we need to enter a pin anymore when inserting the card if we don’t have to when tapping?

There’s more on that here

Why do I need to use my PIN for transactions <£30?

Ok, this is more Fin than Tech, but I think this is probably the most appropriate category. Having become used to using contactless because of the awesomeness of , inputting a PIN seems very cumbersome (I know, first world problem). This has got me wondering what the justification is for requiring PINs for chip transactions below £30? For instance, if I go to a shop and buy something for £12, if I tap my Monzo card, no PIN is required. But if I were to instead insert the chip into the m…

[anon44204028]

@Kumnaa

Isn’t this just basically contactless without the contactless?

It is Chip&Signature so similar to pre-Chip&PIN days, unlike Chip&Dip in the Netherlands which does not need a signature or PIN

[anon72173902]

@HoddzDJ

Do folks even still sign their card these days?

I don’t and have not done it for years

[anon44204028]

I have seen in a shop someone hand their card to the shopkeeper for them to do a contactless transaction and when they noticed no signature they refused to accept the card and handed it back. The woman asked for a pen to sign the back of her card and they still refused as they said to her she could be anyone that found that card and is just going to sign it which I thought a bit harsh.

There are also countries in Asia where after doing a chip and pin transaction you still have to sign the receipt slip, and high value transactions and hotel bookings and car rentals abroad where they are required by local laws to match your signature against an ID such as a passport. Some of these people can be real jobsworths and I once had a stroppy Frenchman moan as my passport photo was nearly 10 years old so he thought it did not look like me, eventually he accepted my hôtel booking after I showed a more up to date driving license photo as well.

Also if you were to lose your card (perhaps whilst being unaware of it) it would either increase potential for loss or give a bank grounds to refute a claim due to your negligence in not signing your card.

[anon23935806]

I still don’t understand what’s the point of chip and signature. If you want to accept a transaction without PIN it’s your choice, but there’s absolutely nothing a signature will do in case the payment ends up fraudulent.