Chip & PIN - one advantage (and counting)

Chatting with a pal whose son works for a cheapie car rental company this week revealed one advantage to consumers that the move to Chip & PIN has made.

Apparently, whereas in the old days of Chip & Signature, the car rental EFTPOS machine could accept keyed card details (i.e. cardholder not present) the new machine cannot.

So basically the car rental company can only tab your card if you're there (and able to key in your PIN) or where the customer has authorised a possible debit (in case of damage) of up to a given amount.

The authorisations are only valid for 28 days though.

So basically, if the car rental company screws up charge-wise (and yes, folks they really do this) and you're outside of the 28 days authorisation period, it seems the car rental firms cannot charge your card any further without you being present.

Customers 1 Car Rental Companies 0...