Alan B. Pearce wrote:
>> So if my card gets robbed or skimmed or anything, there's nothing
>> the thieves can do with it because my current account is empty.
>>     =

>
> You are correct to a point, but such thieves are adept at deciding what t=
he =

> floor limit for a shop is (the value below which they do not need to get =

> authorisation from Visa - it is automatic authorisation), and spending be=
low =

> that limit.
>   =



I hadn't heard about this "floor limit" thingie. Interestingly though, =

here's some info I got from the net, it's to do with VISA cards:

The first digit indicates if a card can be used internationally or is =

valid for domestic use only. It is also used to signal if the card is =

chip-enabled. The second digit indicates if the transaction must be sent =

online for authorization always (=93X2X=94) or if transactions that are =

below floor limit can take place without authorization (=93X0X=94). The =

third digit is used to indicate the preferred card verification method =

(e.g. PIN) and the environment where the card can be used (e.g. at point =

of sale only).

Presumably, these debit cards are "X2X", but I'll make sure with my bank.


> So you could still have considerable debts run up on the card because the=
se =

> transactions will get charged to you, even with no money in the account.
>
> It is still necessary for you to very promptly let your bank know that th=
e =

> card has been stolen, for them to stop such charges appearing on your =

> account.


Tomorrow I'm going to my bank and I'm going to have a very stern talk =

with them. I'm going to tell them to disable any and all overdrafts. I'm =

going to tell them to disable any sort of "automatic fund transfer" from =

my savings account to my current account. Also I'm going to get a =

straight answer out of them as to what exactly happens when a =

transaction can't be complete (e.g. do I get charged 2 Euro for bad =

transactions?).

-- =

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