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ANZ warns customers to prepare for PIN switchover

01 July 2014  |  2537 views  |  0 Source: ANZ

ANZ today reminded its customers they only have one month left to ensure they have a PIN in place on all debit and credit cards before signature verification is phased out as part of an industry initiative to protect customers from fraud.

ANZ Managing Director Products and Marketing Matt Boss said: "The move to PIN is an important industry initiative that will reduce the inconvenience we know that fraud causes.

"Despite a comprehensive campaign to remind customers of the change we still have around 750,000 cards that are not being used with a PIN. We don't want our customers caught short after the changeover, so we are doing all we can to make sure our customers are aware the change is coming."

According to PINwise, an initiative of the Australian payments and card industry to encourage the use of PIN instead of signature, approximately 25 per cent of fraudulent transactions on scheme debit and credit cards occur on card purchases made in person.

"While we know this will be quite a change for some customers, this initiative is about making credit and debit cards safer to use for our customers as well as reducing fraud rates across the community.

"If a customer has forgotten their PIN and need a new one sent to them they can call us on 13 13 14 or they can set one up by visiting a branch. Our staff are on stand-by to help customers with any questions they may have," Mr Boss said.

ANZ has been contacting customers to remind them of the change by sending SMS messages, emails and letters, as well as making calls. Information about the initiative has also been displayed in our branches, on anz.com, and on ATM screens.

ANZ customers can change their PIN at any ANZ ATM or set up a new PIN in an ANZ branch.

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