Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
Divorce, Maintenance, Personal Injury, Medical Negligence
I recently had to collect all of my new credit cards, it is something that one typically has to do every two or three years and was glad to see that they have all now moved to the chip and PIN cards in South Africa. Some of my cards had been replaced the year or so ago but some of the older ones have now been replaced with the new cards and I think that it certainly adds an element of extra security to be forced to enter a PIN code when the card is used.
There are tremendous problems with the cloning of cards at the moment, which can happen for example, even when you use your card to pay for a meal at a restaurant if the waiter unbeknown to you swipes it through a device, which has happened to us and does not take long for you to start getting SMS alerts highlighting huge purchases “you” have just made all over Hyde Park! The SMS alerts are an additional safety feature, and I think that anybody who has a bank account or credit card needs to do that – one of my former staff members was for example hit by a number of R2 000.00 withdrawals from her account in December, but did not have the SMS service and only discovered it after quite some money was taken out over a number of days.
Posted by Michael de Broglio on Monday 16-Apr-12
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Comments
Cherise said:
on Wednesday 18-Apr-12 09:25 AM
When I use to bank with fnb I always use to recieve sms for all my withdrawls I would make or for any activity that would go on with my bak account. I no longer do anymore with Nedbank.
I will definitely be changing this soon , so I recieve all my sms's because I swipe my card a hell of alot and would die if something like this had to happen to me
Angelique said:
on Tuesday 17-Apr-12 04:50 PM
I too know a friend of mine who didnt have any limit on his accounts or it was awfully high and the money in his account was all taken on it one go - on 2 occasions! In another city! He had to report it and very quickly - he was eventually a month later reimbursed - Standard Bank and I hear stories of Standard Bank fraud all the time. I bank with FNB and I think the sms notification is really great - your phone is always on you and if anything fishy is going on you can quickly phone. I long for the day where we dont have to worry about being cheated or stolen from!
Candice said:
on Tuesday 17-Apr-12 10:13 AM
I think the sms's are great, nedbank has them for when you logg in to your internet banking as well. it does get irritating some times when you are receiving about 2 sm'ss confirming 1 transaction, but im glad i do have it .
Kaylene said:
on Tuesday 17-Apr-12 09:47 AM
I know of a couple of people that was also victims of their cards being cloned, and after that the banks take forever to Investigate the matter as well. I also have a chip card, but still dont feel safe. Somehow these people will come up with a way to clone the CHIP AND PIN cards as well.
Brenda said:
on Tuesday 17-Apr-12 09:33 AM
I also know of a few people who have been victim to card cloning. It is really devastating to receive an sms stating that thousands have been spent on your expense and you sitting in the comfort of your home with your cards safely in your purse. I do believe that the new cards are the way to go to ensure that your finances are safe and cannot be tampered with.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
