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PIN instead of signature for EFTPOS transactions

Posted by PeteW PeteW
Message 1 of 2 893 Views

Back in August 2014, PIN replaced signatures on EFTPOS transactions made in person which applied to both credit and debit card transactions.

 

This was an industry led change which was implemented to increase the security of credit and debit card transactions made in person. You can have up to 4 digits in your PIN combination which means there are 10,000 possible combinations making it more secure than a signature which can be forged!

PINwise.png

Just make sure you don’t make it something easy to guess, like 1111 or 1234. Even making it your year of birth or post code makes it easier for fraudsters to guess - so be creative! If Sir Donald Bradman is an interest of yours, why not use his year of birth (1908) or the year of his first test debut (1928)? Or maybe it’s just test cricket you love so you could make it 8378 (TEST)…

 

When it’s not an easy number to guess and doesn’t relate to information you make public (the year you got married or the last four digits of your mobile number) then you know you’re not making it too easy for someone else to guess.

 

If you’re ready to change your PIN and are already registered for SMS Code just log in to Online Banking, go to ‘self service’ in the left hand menu then ‘PINs & activate cards’. Select the card you want to update then enter and confirm your PIN, and click change PIN.

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Re: PIN instead of signature for EFTPOS transactions

Posted by PeteW PeteW
Message 2 of 2 892 Views

Your question prompted me to write this post today @wau2 so thanks for the inspiration!

 

It's important to note that this change has not been made/enforced globally so whilst overseas some merchants will still require you to sign whereas others may have already also adopted PIN authorisation. Just make sure you select the 'credit' option, as 'cheque' and 'savings' won't work overseas.

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