Signing for your card transaction is now a thing of the past
by Michael Hanna
From Valentines Day (14th February) 2006 a signature is not good enough for you to purchase goods in the UK using your debit or credit card. Chip and PIN technology has been around for years, but before now it has still been an option that you may sign for your card transaction. Now, however, that luxury has been taken away. No longer will a signature be enough proof that the card you are using is yours. If you own a debit or credit card you must now know your PIN number or else you won’t be able to use your card.Card fraud is a big problem in the world nowadays, but this new technology has significantly decreased card fraud. It is estimated that 80 of retail transaction in the UK are now paid for by card. This isn’t because more and more people are getting credit cards, it’s because more and more people are getting a debit card with their bank account and using this debit card instead of cash when shopping.Most new bank accounts nowadays offer free debit cards when you open your bank account. Barclays bank (one of the UK’s biggest banks), for instance give you a free debit card with their current account (http://www.barclays.co.uk/currentaccount-index ) and their new High Interest Savings Account (http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=articleFWgroup
About the Author
Author:Michael HannaAbout MichaelMichael is a keen writer, and internet marketer living in Scotland:Contact details:E-mail: samqam@googlemail.com Phone: 0131 561 2251Michael's Website: Belfast Visit their website at: http://gransha-taxi.co.uk
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