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Credit card will require a PIN from Friday

YOUR number's up from Friday.

Gladstone card holders will be asked to personal identification number at the point-of-sale from Friday, a move that is set to tighten credit card fraud.

Some residents believe they're ready for the changes, which banks have been informing their customers of for the past few months.

From Friday, signatures will be phased out as a form of Australian credit and debit card authorisation, following an industry-wide push to expand the use of PIN numbers at the point of sale.

Behind the move is the Industry Security Initiative, a collective of Australia's major financial institutions and card schemes, which has argued that it is much safer to use your PIN code than signing to verify your identity when using your credit card.

Gladstone worker Jasper Webb said he was prepared.

"I swapped my credit card over from signing a few months ago," he said.

"I had a letter sent to me and changed it over."

He said the changes made no difference.

"It's just as easy to sign."

His mate Dean Strike said he had always used a PIN, but preferred the new PayPass system.

"I didn't even know that was happening," he said. "Sometimes I didn't even sign my cards."

Shanna Cook said she had already changed her card over as well.

"I was always a signature writer, but I think it's a good change," she said.

"If someone loses their card it's really easy to learn a signature."

Westpac Gladstone Goondoon St bank manager Katie Kruske said the branch had been informing customers of the changes for several months via advertising and on bank statements.

"Ninety-nine per cent of our customers are happy to have a PIN. At the end of the day it's making our customers' banking more secure," she said.

"We can reload a PIN on any card within five seconds," she said, for customers who haven't yet made the change.

Topics:  banking, credit card, eftpos, fraud




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