A consumer watchdog has said banks that failed to tell older and disabled banking customers about new rules regarding chip and pin technology are to blame for these debit and credit card holders' impending vulnerability.
New rules with regard to chip and pin technology means that from February 14th, debit and credit card users will only be able to use their cards if they are able to key in their pin code.
However, certain banking customers (like older or disabled people) can apply for special chip and signature debit and credit cards from their bank, but this is where the National Consumer Council (NCC) claims providers failed their customers.
The council has warned that three million vulnerable banking customers are about to experience "misery and frustration" when the new rules come into effect.
"A year ago we urged the banks to launch an information campaign and improve bank staff awareness of the chip and pin alternatives," comments the deputy director of policy at the NCC, Claire Whyley.
She says the NCC is "really disappointed" as it feels banks have not taken their responsibilities to vulnerable banking customers "more seriously".
Come Valentine's Day, these banking customers could find themselves "high and dry at the checkout", Ms Whyley concludes.
Vulnerable banking customers were failed, claims watchdog
Financial Services > e-banking > Banking news
Vulnerable banking customers were failed, claims watchdog
Tue, 31 Jan 2006
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