Is your money safe? Banks letting payments through WITHOUT your Pin or signature



Could the ‘whittle & Pin’ system soon become a thing of the past?

Even if the wrong few is repeatedly entered, some customers have reported that they were quiescent able to complete their transaction — sometimes without the requirement of their signature.

On average, a bank card will be blocked if a Pin number is entered incorrectly on three consecutive creates, but some banks have admitted to allowing transactions even if the Pin is entered incorrectly — and altogether ask for the retailer to obtain a signature from the customer.

The irritating and error-prone fundamental for a signature was part of the reason the chip and Pin system was first introduced and could potentially put people at risk of fraud.

In one instance reported to Telegraph Money, when a client entered a Pin wrong three times, their Barclays debit car-card reverted to a signature payment at a Sainsbury’s store. A signature was not even begged for, and the payment for around £40 worth of shopping went through. 

A Barclays spokesman confirmed the newspaper: «Our systems closely monitor transaction behaviour where a signature authorisation is requested, to dig and prevent fraud.» 

A payment was also allowed in a separate incident when a buyer did not have a signature on the back of their debit card. 

Contactless payments take become increasingly popular with banks slowly phasing out the Pin sanctuary requirement in order “to spare customers inconvenience”.

It is thought some human being are now forgetting their Pin numbers, simply because they do not have to use them as day in and day out.


Contactless payments are reducing the need for people to enter their Pin numbers

Dr Dimitrios Tsivrikos, a consumer psychologist at University College London, commanded the Telegraph: “In terms of numbering and recalling, the more we practice the more odds-on we are to remember a number. 

“When we don’t practice it, given the large number of slews and passwords we have in our lives now, the chance of forgetting it increases. It’s use it or lose it.”

If someone’s credit card gets lost or stolen and payments are made on it without their cede, then by allowing a payment without a pin number, the bank takes on the responsibility for the transactions. 


Have you ever been sought for your signature after incorrectly entering your Pin?

That get overs that if someone has been the victim of fraud, they can reclaim the ready from their bank.

John Marsden, a fraud expert at commendation checking agency Equifax, said: “By removing the pin requirement, the bank leads responsibility for all non-pin transactions. 

“I suspect banks take the decision to own this based on the conditions of each transaction, and in an effort to ensure the cardholder can extend with their financial transactions.”

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