Banks - utterly pointless security check

[pxl8]

My wife went to Sainsburys today, at the checkout her debit card was refused by the bank. She was taken to the CS desk and they asked if she'd like to phone the bank. Instead she did the same as last time, went out to the cash point and took the cash out using the same card.

Came home and called the bank, on hold for 25mins (@ 10p a min) to be told it was a random security check and the card was now unblocked.

What's the point in blocking chip and pin use but not the cashpoint? All the bank has done is cost us time and money getting the card unblocked from a security check that wouldn't stop a thief taking cash out of the account...

Muppets!

 

[Cobra]

:bonk: Muppets indeed I had a very simlar experiance at a local BP garage, recently. My card "bounced" at the till and worked perfectly well at the ( their) "hole in the wall"

 

[Ladybird]

MUPPETS!!!!!! :bonk:

 

[mattyh]

Hope it wasn't sainsburys bank

Idiots comes to mind :bonk:

 

[minky_monkey]

I`m having spectacular arguments with Abbey at the moment. 3 calls to the customer complaints number in as many days.

In fact, I don`t even bother talking to the branch now, I just ring them.

As they haven`t had the decency to call me back today, I`ll be on the phone again to them tomorrow.

All good fun. Not bad for a customer that`s only been with them for three months. I don`t think it`ll make four. Shocking, bordering on incompetant.

 

[Joe T]

I`m having spectacular arguments with Abbey at the moment. 3 calls to the customer complaints number in as many days.

In fact, I don`t even bother talking to the branch now, I just ring them.

As they haven`t had the decency to call me back today, I`ll be on the phone again to them tomorrow.

All good fun. Not bad for a customer that`s only been with them for three months. I don`t think it`ll make four. Shocking, bordering on incompetant.

First Direct for the win.

 

[RobertP]

Vaguely remember something on TV that not all cashpoints actually read the chip. Cloned cards were used for fraud in those machines. Maybe the machine couldn't check if it was blocked.

 

[dod]

The logic of banks really beats me.

I've a close friend who recently started his own business and had a £10k overdraft facility. About three months in he had a cash flow problem and asked them to up it to £15K for a month till he could get money out of a customer, they refused. Six months later he's got a full order book, a significant sum sitting in the bank and what happens, they call him in and offer to increase the overdraft. Yep, muppets.

 

[mattyh]

I hate banks, all of them!! They're robbing barstewards!

rant over

 

[Joe T]

The logic of banks really beats me.

I've a close friend who recently started his own business and had a £10k overdraft facility. About three months in he had a cash flow problem and asked them to up it to £15K for a month till he could get money out of a customer, they refused. Six months later he's got a full order book, a significant sum sitting in the bank and what happens, they call him in and offer to increase the overdraft. Yep, muppets.

So a bank should throw more money at a new business with cash flow problems?

 

[pxl8]

Vaguely remember something on TV that not all cashpoints actually read the chip. Cloned cards were used for fraud in those machines. Maybe the machine couldn't check if it was blocked.

That would sound just about right. Introduce chip & pin and hand liability to the shops if they don't use it but don't practice what they preach with their cashpoints.

It was LTSB and my wife used their own cashpoint to get money out.

Putting on my cynical hat for a moment - maybe the bank has realised they can earn a few quid from all the 0870 calls of people wanting to get their cards unblocked...

 

[Ladybird]

So a bank should throw more money at a new business with cash flow problems?

Yes! £from £10k t0 £15K is not a lot for a large bank, and not too high a risk if they can see the money will come in. I'm pretty sure these o/drafts aren't free, so they still make money in the end :shrug:

Bah Humbug Mr T!!!

 

[mattyh]

www.saynoto0870.com

Also if your PIN is used in card fraud the bank will normally refuse to refund the amounts, as they reckon that chip & pin is secure. It isn't. Google Chip & Spin,

 

[Cobra]

So a bank should throw more money at a new business with cash flow problems?

Not necessarily, Joe we all know banks like to play the odds as long as they are 100% in their ( banks) favour,
Surely a "good" manager would ( should) have spotted the potential whatever that might have been?

they seemed to have dropped a ghoollie in Dods example though, I trust the person concerned shifted their monies elsewhere Dod? I know I would have.

 

[dod]

So a bank should throw more money at a new business with cash flow problems?

No, the point I was trying to bring out was the hypocrisy of banks. A classic case of not looking at the big picture, just the immediate risk. He hasn't had time yet but his bank will lose the business, he's set the target balance and it's just a matter of time before he gets a meeting with the manager and says "remember the time you refused me £5K?"

When starting a business banks serenade you with "Come to us, we're the friend of business. We'll help you and give you good advice"

In reality banks are about the worst people on the planet to give advice on business, they're totally risk averse and the only profit they're interested in is their own. I actually like our business manager but I've got nothing but contempt for the institutions.

Edit: just seen your post Cobra, pretty much sums it up