[thechat] The Credit Card Prank

Isaac Forman isaac at bigtrip.org
Sat Jun 7 10:10:21 CDT 2003


In Australia, POS (Point of Sale, not Piece of Shit) operators 
are lax with signature checks. But here in the UK, in every 
store in which I've used my credit card, the attendant has 
verified that the signature on the receipt actually matches 
the one of the reverse of my card.

isaac

>In truth, American banks, and presumably their credit card 
divisions,
>simply don't verfy signatures at all. Instead they hold a 
certain
>amount of money in reserve to pay off legal claims 
brought by people
>whose cards or checks were fraudulently processed/
cashed. They've made
>the business decision that it's less expensive to pay off 
claims than
>to hire personnel to verify signatures.

 
             


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