Can I still use signature at the checkout to pay?Or it needs a pin?
For example,the only One Visa Giftcard from Coles deal last year.
What happens to those Visa/Mastercard giftcard with no pin after 1st August?
Neoika on 25/07/2014 - 19:31
Last edited 25/07/2014 - 19:32
Last edited 25/07/2014 - 19:32
Comments
As I mentioned in the title,Visa/Mastercard giftcard.
I've never signed for purchases with a gift card. Either there's a PIN given to you or it's like cash, you lose it, you cry. So have they really been requiring a signature when you use One Visa? Sounds dubious as it's a gift card and anybody who gets it can sign anything. Are you sure there isn't a PIN on the back that you scratch to reveal?
The Visa giftcard from last month ebay deal has pin at the back.Some old ones do not have it.
Some gift cards have nothing and say specifically on the back that it is not valid without a signature. First to sign it wins the race.
@Charlatan: Signatures give a false sense of security. When's the last time any merchant seriously compared signatures? PINs on the card aren't much better, except that you can tell if it's been tampered with if it's been revealed, and they do provide a check that the correct gift card is being debited. Essentially a gift card should be treated like cash.
I got no problem with merchants not checking signature.
Imagine if someone else signed for your card and you did a chargeback because of it. Good luck to the merchant when they produce a signed receipt where the signature doesn't match the one on file.
With chip and pin, it's MC/Visa trying to put it back on the card holder.
@tomsco: The way some people sign, you can hardly tell whether it was the real owner or someone else.
I don't think you can use your credit card without a pin after 31/7/14. I would create a pin now. The credit card provider should have sent you email reminder to set up a pin. It should be quite easy to do by following the instruction in the email.
Edit: The Coles gift card should have a pin at the back of the card.
What's the good of having a PIN written on the rear of the card?
Not much but you can tell if it's been tampered with if it's been revealed, and they do provide a check that the correct gift card is being debited. Essentially a gift card should be treated like cash.
To prevent loss or stolen gift cards, I note & scratch off the pin on them and then write it in code somewhere. I was stupid enough to leave one in my car because my wallet was too bulky with all of the plastic. My window was broken and card stolen. All for $50. Now I am doubly cautious.
I would say probably like international credit cards there will be some exceptions to the PIN rule and that for these prepaid products you will still be able to sign.
There are exceptions to the pin rule, for example if it doesn't have a chip it doesn't need a pin, you can still use a signature. There is a website pinwise that explains it all.
Thank you for your information.I found the answer on pinwise.
Do all transactions in Australia need a PIN?
No, not all transactions at point of sale will need a PIN, most notably contactless transactions (Visa payWave, MasterCard PayPass or American Express Contactless) under $100 do not need to be authorised by a PIN, and do not require a signature today.Other exemptions are:
Certain small ticket payments that do not require signature or PIN under $35
Transactions from most unattended terminals e.g. parking meters, kiosks and vending machines
International transactions (transactions conducted by cardholders with cards issued by banks outside Australia)
Magnetic stripe transactions (generally on payment cards that do not have a chip, for example some pre-paid cards and gift cards)
Signature only cards. These cards may be issued by certain financial institutions to accommodate special needs of individual cardholders and are subject to specific criteria
In each case, the payment terminal that is reading your card will prompt for a PIN if it is required.
I asked the same question and got reply from only1giftcard via email last night as follows:
Dear xxx,
Thank you for your inquiry.
I apologize for any inconvenience, however, if you ordered a prepaid card, the law applies to pin/chip cards, Prepaid cards are not a PIN/chip card, therefore your card will not be applicable under this law. It will only be applied to Credit Cards and Debit Cards.Thank you,
Cardholder Services
Yesterday I purchased lunch at a cafe on my gift card. No pin or sig required. I went to a supermarket and used the card. No pin or sig required. So in practical terms you don't need anything. So hold on tight to your card!
Which giftcards use signatures at the moment? I don't know of any.