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Citibank chip-and-pin cards



 
 
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  #11  
Old August 17th, 2011, 03:26 PM posted to rec.travel.europe,rec.travel.asia
[email protected]
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Posts: 253
Default Citibank chip-and-pin cards

On Aug 17, 4:59*am, Chris Blunt wrote:
Probably because it's no use individual credit card issuers acting
alone. It needs the whole industry in each country to agree to issue
chip-and-pin cards and for merchants and card acquirers all to be set
up to accept them.

For now, they could issue cards with both magnetic stripes and a chip
to the customers who request them. If the bank is concerned about the
expense, the bankers should also think about the profits that would be
lost when I take my banking business elsewhere (I am a Citigold
customer).
  #12  
Old August 17th, 2011, 05:13 PM posted to rec.travel.europe
Erilar
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Posts: 599
Default Citibank chip-and-pin cards

James Silverton wrote:
On 8/17/2011 5:06 AM, Martin wrote:
On Wed, 17 Aug 2011 10:42:52 +0200, Johannes Kleese
wrote:

Does anyone know why Citi does not make chip-and-pin cards available
to US-based customers?

Rumors have it that people in the US still use cheques, like, on real
paper and such


It's a fact that they do in UK too; and that by popular demand the
abolishment of cheques has been postponed until 2019 at the earliest.

This reminds me that the topic of abolishing the dollar bill in the US
has arisen again with the repeated suggestion that the Treasury should do
as in Canada and abolish the bills. What is not recognized is that very
large number of Americans do not like coins at all and don't carry them
except for use in older parking meters. Quite often, any change gathered
during the day is deposited in a jar and periodically taken to the bank
for counting and deposit. I usually find that I deposit 30 or 40 dollars a month.


Personally, I prefer the dollar coins for a number of reasons. I just wish
more machones accepted them. Trying to use anything but a crisp fairly new
dollar bill(a tiny minority of dollar bills in circulation) in a macine of
any kind is a major exercise in frustration. One dollar coin is lighter and
more compact than four quarters, the obly reliable alternative.
Furthermore, from an economic point of view, if one is allowed to bring
that up, they so outlast the paper dollars that they cost less to produce.
Unfortunately, there are too many people like you refusing to use them.

--
Erilar, biblioholic medievalist with iPad
  #13  
Old August 17th, 2011, 08:47 PM posted to rec.travel.europe
Jean O'Boyle[_3_]
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Posts: 624
Default Citibank chip-and-pin cards


"James Silverton" wrote in message
...
On 8/17/2011 5:06 AM, Martin wrote:
On Wed, 17 Aug 2011 10:42:52 +0200, Johannes Kleese
wrote:

Does anyone know why Citi does not make chip-and-pin cards available
to US-based customers?

Rumors have it that people in the US still use cheques, like, on real
paper and such


It's a fact that they do in UK too; and that by popular demand the
abolishment of cheques has been postponed until 2019 at the earliest.

This reminds me that the topic of abolishing the dollar bill in the US has
arisen again with the repeated suggestion that the Treasury should do as
in Canada and abolish the bills. What is not recognized is that very large
number of Americans do not like coins at all and don't carry them except
for use in older parking meters. Quite often, any change gathered during
the day is deposited in a jar and periodically taken to the bank for
counting and deposit. I usually find that I deposit 30 or 40 dollars a
month.



I use checks when I write amounts to charitable organizations and my church
as proof for charitable deductions on my federal income tax. The bank sends
me statements with copies of those checks to back up the amounts. Otherwise
I always use my credit card. I do wish that the bank or credit union would
issue credit cards with the chip to make it easier when I am traveling out
of the USA...but truthfully, I had no problems using my credit card in
hotels and restaurants in Europe this year. I do worry that such a problem
might occur one day. I have an ATM card that I use for that purpose only and
have had no problems with it while traveling either. I don't care for coins
such as pennies and nickels as they damage the coin holder on my wallet; so
I am one who ends up taking all my small change to the credit union to cash
in for bills every three or four months. The dollar is the denomination most
used, so most of the bills end up quite tattered and worn, but I still
prefer it to a dollar coin. With the cost of living as it is now, we may
need to go back to $2. bills!

--Jean

--Jean


  #14  
Old August 17th, 2011, 08:58 PM posted to rec.travel.europe
Jean O'Boyle[_3_]
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Posts: 624
Default Citibank chip-and-pin cards


"Giovanni Drogo" wrote in message
news:alpine.LSU.2.00.1108171429210.10884@cbfrvqba. ynzoengr.vans.vg...
On Wed, 17 Aug 2011, Johannes Kleese wrote:

Rumors have it that people in the US still use cheques, like, on real
paper and such


Well, I do use cheques (2-3 per year) for some payments, here in Italy.

Like e.g. a 4000 euro hotel bill (1 month full board for two persons). How
else could I pay on-the-spot ? Considered that credit card payments are
limited to 2600 euro per month; Bancomat card payments to even lower
limits; I would not like to carry such an amount of cash with me, and I
could withdraw from an ATM only 500 euro at a time (and I guess there is a
monthly limit too), and the ATMs available in the resort are not my own
bank's, so I should pay a fee of 2.7 eur per withdrawal. I could make an
online bank transfer, but ideally from home/office not on the spot (I'd
have to go to a public Internet point or use the hotel computer typing in
all my home bank credentials, and I do not like the idea of doing that on
a computer which is not mine, and where I could not erase all browser
cache/history when I want).



I would ask the bank to increase the limit account if I were you to avoid
such problems. I have an $25,000. limit on my card which the bank set
itself, but I never charge that amount as I pay my account in full each
month and never charge more than I can pay that month. It is a comfort to
know that I could charge that amount if I were overseas and had an
emergency.

--Jean


  #15  
Old August 17th, 2011, 10:41 PM posted to rec.travel.europe
Mike Lane[_2_]
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Posts: 223
Default Citibank chip-and-pin cards

Martin wrote on Aug 17, 2011:

On Wed, 17 Aug 2011 07:26:57 -0700 (PDT), "
wrote:

On Aug 17, 4:59*am, Chris Blunt wrote:
Probably because it's no use individual credit card issuers acting
alone. It needs the whole industry in each country to agree to issue
chip-and-pin cards and for merchants and card acquirers all to be set
up to accept them.

For now, they could issue cards with both magnetic stripes and a chip
to the customers who request them. If the bank is concerned about the
expense, the bankers should also think about the profits that would be
lost when I take my banking business elsewhere (I am a Citigold
customer).


My Dutch cards have both strip and chip.


So do all cards in the UK AFAIK.

--
Mike Lane
UK North Yorkshire
mike_lane at mac dot com

  #16  
Old August 18th, 2011, 03:06 AM posted to rec.travel.europe,rec.travel.asia
Peter Webb[_3_]
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Posts: 3
Default Citibank chip-and-pin cards


"Chris Blunt" wrote in message
...
On Tue, 16 Aug 2011 17:10:36 -0700 (PDT), "
wrote:

Does anyone know why Citi does not make chip-and-pin cards available
to US-based customers? Their advertising in Asia and Europe (and
probably the rest of the world) show that chip-and-pin is offered
there, so they clearly have the physical ability to create them. When
I asked in the US, some Citi employees did not even know that these
existed, and none offered any hope.


Probably because it's no use individual credit card issuers acting
alone. It needs the whole industry in each country to agree to issue
chip-and-pin cards and for merchants and card acquirers all to be set
up to accept them.

This is what happened in the UK several years ago. Everybody's cards
were switched to chip-and-pin over a period of a couple of years.
During that time merchants were issued with machines capable of
handling them and staff were trained how to use them. Credit card
holders also need to be told what changes are happening and given
information to make sure they are issued with PINs and know how to use
their cards with the new system.

It requires a coordinated effort on the part of the entire industry to
make all that work smoothly.

Chris


I'm surprised they haven't got chip cards. Couple of factors:

1. In Australia, credit card fraud is paid for by the Bank. The use of chip
cards reduces fraud, so it reduces costs to the Bank. It has very little
consumer benefit; Australian consumers don't pay for fraudulent
transactions. (In fairness, this is also true in the US, or at least was
when I was living there).

2. The terminal POS equipment is provided by the Bank. There are thousands
of banks in the US, lot more of a problem than getting four or five to agree
on common POS infrastructure.

3. Current chip cards are already superseded. Contactless (wave and pay)
systems using NFD technology will quickly replace them. The "killer app" is
putting the credit card logic into a mobile phone app, such that the
person's phone becomes the payment device, eliminating physical credit cards
entirely. The Banks in Australia may have been better off skipping current
smart cards and jumping straight to RFID/NFD based technology. Maybe that is
what they are planning in the US.


  #17  
Old August 18th, 2011, 04:35 AM posted to rec.travel.europe
Neal Plotkin[_2_]
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Posts: 16
Default Citibank chip-and-pin cards

In article ,
James Silverton wrote:

On 8/17/2011 9:30 AM, Neal Plotkin wrote:
In ,
James wrote:

This reminds me that the topic of abolishing the dollar bill in the US
has arisen again with the repeated suggestion that the Treasury should
do as in Canada and abolish the bills. What is not recognized is that
very large number of Americans do not like coins at all and don't carry
them except for use in older parking meters. Quite often, any change
gathered during the day is deposited in a jar and periodically taken to
the bank for counting and deposit. I usually find that I deposit 30 or
40 dollars a month.


What's your source for the "very large number of Americans" who don't
like coins?

Personal observation but family and friends especially.


I question your statistical sample. I see people using coins every day
for small purchases, and I agree with Erilar that it's much easier to
use coins than bills in machines that take money.

And my personal observation is that when I travel in Canada or Euro-zone
countries, dealing with 1- and 2-dollar or -euro coins instead of bills
is slightly more convenient -- it's easier to fish coins out of my
pocket than take out my wallet and then take bills out.

--
Neal Plotkin
  #18  
Old August 18th, 2011, 09:14 AM posted to rec.travel.europe
Giovanni Drogo
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Posts: 811
Default Citibank chip-and-pin cards

On Wed, 17 Aug 2011, Maurice ON4BAM wrote:

Credit card payment is not limited to 2600 Euro/month. [...] negotiate
a higher limit with the bank issueing the card. We have the option of
increasing/decreasing the limit via our internetbanking


2600 is (my) default limit recommended by the bank. I know I can
increase the limit and once I did for a trip abroad (where usage of
credit card is convenient w.r.t exchange of cash and cheques are not
accepted), but was advised to reset it after I return (the idea is to
keep the limit as low as possible to prevent frauds ... and I must say I
agree with the advice).

I am not sure of the current procedure to change the limits online
(there are different limits for different types of operations, some as
high as 50,000 eur). I have a vague recall that for credit cards one can
always lower the limit by oneself, but has to apply to the bank to raise
it.

If you carry your own (well protected) laptop you could use
internetbanking as a last resort


Since I travel exclusively with public transport, I'd like to reduce my
luggage to the minimum, and surely I won't take a laptop in vacation.

I think that paper cheques, insofar they are commonly accepted, are
still a viable (the most viable and convenient) solution (the same
applies to paper tickets for transport).

--
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