Had some problems with my bank a few days ago. Apparently I was charged like 3 pounds from my account without any notice, clarified that with that at the branch and was told it was a stray bank charge and they immediately refunded the value in full. Scary!
Banks are different here and the bank’s online facility is quite unique from that back home in Singapore as well- yes we have to key in the bank pin and password each time you log on, the catch is that you are not allowed to enter the password in full, but rather key in 3-4 characters from your long passwords and pin based on their character position, mental!
And yes, the secure card reader don’t seem to have much use either. Why don’t they just use those 256-bit pin verification dongles? Buying stuff online works through the same verification method as well, but is not that “secure” as I expected it to be. Tried to purchase my oyster card online via the transport for London website, but the website kept telling me that the transaction was unsuccessful and to submit another. I assumed that I was not charged and the transaction didn’t go through due to a verification problem (you have to key in passwords, pin numbers, have the correct address etc), but my bank statement didn’t state otherwise- I was charged the full value of £23 (£20 value + £3 card value) each time even for a failed payment and was refunded only 2 times automatically from the website.
The bank representative explained little of the workings here on their debit cards, apparently every charge to a card successful or not will be treated as a point of sale transaction, only where the payment is verified where the card be actually charged. Go figure! but my bank balance don’t seem to be saying so!
I have to be more careful buying stuff online now, all these rouge charges are getting hard to keep track on!