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Comment by paradoxsm, on 3-Apr-2006 13:42
We are the first country to embrace a nationwide cashless society and the banks got us hooked and now fleee us for the highest bank charges in the world, even the 5c coin is going to encourage this. Eftpos charges are a scam, 30c min (westpac do a 5c special) ATM withdrals are a shocker 50c minimum. It used to be free a few years back over the counter. Dishonour fees where once a manual process that was quite some work., it was charged $15, now it's fully automated, it's $35 and the bank does nothing. banks "base fees" just for having money with them! c'mon!!!!! There are better options, In NZ an unlimited account will cost $15 with ANZ or kiwibank, In Australia, $5. even phoning phone banking more than 6 times a month costs 50c a pop after that, Hardly costs bank anything, 0800 numbers don't work either. (I have a very very old BNZ video on some hideous hardware, came with the old EFTPOS server I have with 4 Pentium 60's.. and 1GB ram in early custom 68 Pin SIMMS..... scary)
Comment by juha, on 3-Apr-2006 14:08
We are supposed to get "Smart Cards" this year, which will be a silver bullet and protect us against all fraud. Whoops! Tui Moment there. Skimming is so inelegant though. I wrote about Piotr Zielinsky and Mike Bond's research for the Herald in 2003... paper here: http://www.cl.cam.ac.uk/~pz215/ Herald article behind that annoying $3 Premium Content wall though... not that I get a penny of that. :\
Comment by cokemaster, on 3-Apr-2006 17:03
I rarely use debit cards nowdays. Only when the store doesn't take credit cards. What can I say? I hardly carry cash at all, so ATM skimming will hardly work on me but if they skim at the point of sale, I'm probably going get hit sooner or later.
Comment by Bart Smeele, on 28-Jun-2006 00:29
From: 'A now MUCH wiser fraud victim'. Unfortunately New Zealanders have been living in a 'fool's paradise' for far too many years when it comes to knowing about or caring about ATM (and POS) fraud... i.e. card skimming... PIN compromise via 'wireless interface' pin-hole cameras... etc... etc... etc. This is due to two factors... the first being the traditional "ignorance is bliss" issue... and the second being that banks are being MUCH LESS than open and forth-right about the true state of the ATM fraud matter... seemingly in an efffort to avoid scaring cardholders into not using ATMs and having that adversely affect their 'bottom-line'. Another factor that compounds the ATM and POS fraud challenge for cardholders is that bank staff are often very poorly trained in many aspects relating to ATM and card fraud in general... and that some banks (i.e. Westpac!!!) will do all possible to blame the cardholder on the basis of suppositions and regardless of the provable facts. Trust me... I know from bitter personal experience that this is how they work. My advice is... 'be afraid... be VERY afraid of ATMs and POS terminals'. They are HIGHLY vulnerable places to use your cards and you could all to easily become an innocent victim.! After having many thousands stolen... doing battle with a very 'hard-headed' and illogical bank for some 3 years... and having my credit rating destroyed I don't mind admitting that I've become somewhat paranoid about using credit cards and ATM or POS terminals.In fact I won't use my cards in an ATM (or anywhere else for that matter) unless it's an absolute emergency and there is no other alternative. Take care out there.!
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