8/15/2023 0 Comments Lloyds tsb credit cardOperators like Visa therefore rule that banks can only accept or decline payments made in this way - they cannot refer them for authorisation.įaced with a card-not-present transaction flagged up as unusual or suspicious, most banks, including Lloyds TSB, Barclays and NatWest, say they will decline the payment. Identity checks are not so straightforward where you are buying something over the phone, by mail order or online. Given the one million transactions a day, that's a lot of fraud being stopped." "For every 10 accounts we have a referral on, one of them turns out to be fraudulent. They are carried out simply because we are trying to stop other people spending your money."Īnd the technique is very successful, Barclays adds. "Customers need to understand that they are nothing to do with your creditworthiness and no reflection on the funds in your account. "But back in the real world, the checks mean less hassle all around and less money going into fraudsters' pockets. "In an ideal world you wouldn't need these fraud detection systems and the inconvenience they can cause," says a spokesman for Barclays. The banks say that customers are not generally put out by such checks once they realise that they form part of the fight against card fraud. Once the check is complete, provided that all the answers are correct the transaction will be processed as normal and the customer can carry on with their day." "The whole process should take a matter of a few minutes. We will ask the customer random security questions. In reality, though, many shop assistants (especially if there's a queue) simply ask for an alternative card, and misinform the customer that their card has been rejected.Īn HSBC spokeswoman says: "We have worked closely with other banks and merchants to make it as quick for the customer as possible and to put them to the least inconvenience. The onus is then on the retailer to call the card issuer, who will speak to the customer to verify their identity. When a customer is present with their debit card and the transaction is flagged up in this way, the retailer will get a message at the point of sale saying: "refer to bank for authorisation". ![]() ![]() They keep one eye on the customer's spending and transaction pattern and one eye on spending patterns typically used by card fraudsters," explains a spokeswoman for Lloyds TSB.īy marrying up all the variables the system can then detect suspicious transactions that may be fraudulent and need checking before they are given the go-ahead. "They are intelligent systems which learn as they go. These "neural network" fraud detection systems with names like Falcon and Iris do sound clever. Now, though, having spoken to several major banks about the murky world of card fraud and the all-singing, all-dancing systems they use to check for sudden and unusual spending habits, I feel more mellow. Did this mean I needed to inform them each time I was going to spend bit more of my money than usual? And should I tell them if I planned to use my card abroad, for example, if I wanted to avoid washing dishes as a method of supper payment? ![]() Once the bank had verification that we were who we said we were and not card thieves out to bag ourselves a free bathroom, the stop on the payment was lifted.īut, given the embarrassment and time-wasting hassle involved, I was still miffed at Lloyds TSB. The reason my debit card payment had been declined, explained the bank, was that the transaction had been picked up by its computerised fraud detection system as being unusual and outside the normal pattern of spending on our account. He made a highly indignant call to the bank, Lloyds TSB. He had in fact played safe by transferring £4,000. My instant reaction, I'm afraid, was to accuse my husband of forgetting to transfer the required £2,300 from our savings into our joint current account as promised.
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