If you "wanna get away" and you live in the UK, make sure your bank nose..otherwise you'll have "slim pickin's" when it comes to payment options...Travelers have been told that they need to inform their banks about their travel destinations, when they go away, according to a recent report in the newspaper The Times.
This is in the aim of combating credit card fraud, where several holiday goers found their debit or credit cards frozen, when they are abroad. Banks monitor card usage and often freeze them if they begin showing unusual behavior.
The banks claim that if customers inform them of their travel plans, then it means they can make a proper assessment of the information. HBOS told the newspaper, saying: “If people are going to Africa, South America, we like to know. Also, we like to know about people going to Eastern Europe.” This is due to the increase of credit card fraud taking place in these locations.
However, locations in the United States are said to be the most likely places that involve fraud with British cards. Around £24.6 million was taken from UK cardholders in the country in 2008, marking an increase of 118 percent in the last three years. Much of this fraud is conducted by criminals who copy the information on the card's magnetic strip when it is used. They can then use this information to create fake cards for their own use. Credit card fraud has become less likely in the UK, due to the introduction of Chip and PIN.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=fbc5daea-c758-43e7-88f0-c839fb022b72)
0 comments