|
|
Post by pointofnoreturn on Jan 7, 2007 0:56:00 GMT -5
I've been hearing a lot of things lately about Europe implementing credit cards and debit cards with computer chips embedded within them for usage.
I've also heard that some travellers are upset because their magnetic-stripe cards won't work anymore in the ATM/card swipe machines.
Does anyone know anything about this issue?
|
|
|
|
Post by WillTravel on Jan 7, 2007 4:09:21 GMT -5
I know with our Canadian cards that there are some automatic ticket machines we can't use in Europe (also, can't use certain unattended gas stations, but not a big concern of mine). I've also heard about merchants who just refuse to use cards without the chips, although they are not supposed to do that.
|
|
|
|
Post by pointofnoreturn on Jan 7, 2007 11:06:25 GMT -5
Geez, that makes me nervous. Last time I was in Europe, I had cash and traveller's check but now TC have seem to be wiped out and I never used them (therefore got a bad rate when cashing them back to CDN amounts).
I'll have my RBC debit card (PLUS logo), Bank of Montreal Mastercard (Cirrus) and VISA card (Plus). Would that be okay for my travels considering they're using the chip and pin format?
|
|
|
|
Post by Jules80 on Jan 7, 2007 11:14:46 GMT -5
i have never encountered a problem with it anywhere. eitherway, go see your bank and put a pin on your credit card if you're worried. that'll solve any problems. i put one on mine but have yet to use it.
|
|
|
|
Post by Eagle on Jan 7, 2007 20:16:44 GMT -5
From what I've heard, financial institutions in Europe will be implementing the "smartcards" before North American institutions will. These cards contain a "chip" which contains client and security data, and this will hopefully reduce fraudulent use of the cards. I'm not sure if the chip will be used instead of, or in addition to the magnetic stripe?
From a travel perspective, I suspect your existing magnetic stripe cards will still allow access to European ATM's for withdrawing cash (keeping in mind that funds usually have to be in a chequing account with a four number PIN). It would make sense for the Euro banks to continue to allow travellers to withdraw cash, or the tourism market will be adversely affected. However, the ability to make debit purchases might be a problem for those without the smart cards?
It might be worthwhile to check with your Bank, as they might have some information on the topic (although I've found that some Banks aren't always up-to-date with issues like this, unless they have specific experience in dealing with this sort of thing with other customers).
I had no trouble using my Debit / ATM Cards in Europe in the fall for cash withdrawals. I didn't try to make any debit purchases, but had no trouble with credit card purchases.
There is one important point I should mention regarding ATM / Cash withdrawals. On one occasion in France, I tried to make withdrawals at several ATM's and received the message "Account Access Suspended" (or something to that effect). I was initially a bit puzzled and worried about this, and was going to phone my Bank to find out what the problem was. This wasn't possible though as the Bank wouldn't be open for another few hours due to the time difference. However, I eventually figured out that the time of day I was trying to access the ATM machines was approximately the same time that my financial institution backs up their data files. As a result, the computers are "down" for an hour or two and no transactions can take place during this time. I tried again a few hours later and everything worked fine. I just wanted to mention this in case anyone else encounters the same situation.
Good luck!!
|
|
|
|
Post by madamtrashheap on Jan 8, 2007 0:22:38 GMT -5
There is one important point I should mention regarding ATM / Cash withdrawals. On one occasion in France, I tried to make withdrawals at several ATM's and received the message "Account Access Suspended" (or something to that effect). I was initially a bit puzzled and worried about this, and was going to phone my Bank to find out what the problem was. This wasn't possible though as the Bank wouldn't be open for another few hours due to the time difference. However, I eventually figured out that the time of day I was trying to access the ATM machines was approximately the same time that my financial institution backs up their data files. As a result, the computers are "down" for an hour or two and no transactions can take place during this time. I tried again a few hours later and everything worked fine. I just wanted to mention this in case anyone else encounters the same situation. This is such a common occurence and until you put two and two together you freak out at how much you've spent - thinking the account is empty! The other thing is that the sentence "Insufficient Funds" may pop up occasionally - this is usually due to either your bank reconciling the day's business at that time, or that your card won't work in that particular ATM. Cards with magnetic strips will continue to work in Europe for some time yet as not every country has adopted the chip and pin system (UK only brought it in less than a year ago), so you don't need to worry. Although do consider a few things: take a backup of a small amount of TCs just in case; never leave a city without some cash when travelling to the next; your card may not work in ticket machines, etc so always carry coins (and get rid of them before you fly home, lest you end up with "currency-lag"!). The other cards you've listed should be fine as they have the chip and pin system on them. Go forth and spend with confidence! ;D |
|
|
|
Post by pointofnoreturn on Jan 8, 2007 19:06:07 GMT -5
Thanks for the clarification. Eagle, thanks for telling me your experiences. If I freak out when a card doesn't work, I could always try it again in a few hours due to the time difference.
|
|
|
|
Post by WillTravel on Jan 8, 2007 19:32:02 GMT -5
I am repeating myself, but I'm sure it's OK  . My son and I had ATM cards from the same account. I put my ATM card into a machine in Denmark, and tried to get money, and failed a couple times. I then tried a low amount (like about $60CAD worth) and it worked. My son then tried his card (on my account), and it worked fine for something like $200 worth. I subsequently asked my bank, and for some unknown reason, my card had a $100 limit on it. There was no logic, given that my son had a card with a much higher limit, and they couldn't explain why that was. |
|
|
|
Post by WillTravel on Jan 9, 2007 1:30:50 GMT -5
|
|
|
|
Post by pointofnoreturn on Jan 9, 2007 18:59:46 GMT -5
Thank you WT! Only one of my 2 credit cards has a PIN (my BMO Mastercard one). I will have to look into getting a PIN issued to my Visa one!
Good thread you posted!
|
|
.