The rise of credit and debit card fraud, skimming and card cloning has increased the use of cash transactions after years of a slow move to the cashless society. In common with many places in the UK a nearby garage had been cloning customer cards and its more common to hear of people who get their card cloned and used illegally.
My Dad had his replacement credit card stolen from within the postal system but was alerted by the credit card company after a series of non typical transactions started being made with his card and alerted him and subsequently cancelled the card. I’m always amazed that replacement cards are often sent in the post and without the need to sign for them. In many other countries a card holder would have to collect a replacement card from their bank branch and show proof of ID.
I’m still not one to carry about cash and have been cautious and/or lucky enough not to be the victim of card fraud myself to date. I am though seriously considering getting one of those pre paid cards in which you can load limited amounts of money electronically ,at the post office, pay point etc and use out and about and in situations where you may risk getting your card cloned.
This could be a prudent buffer between the main source of your funds and the potential for being card cloned. We were weighing up the pros and cons of each, all of which invariably contain a transaction or monthly charge but some seem very secure acting as temporary visa cards complete with cvv2 security numbers that change each time you add funds to the card which act as an added layer of security.
Of course it would be better if the banks implemented better security systems around the use of cashless transactions (some banks can text you details of each card transaction you make so you’re quickly aware of any unauthorised card usage) and that we all took adequate precautions when used but perhaps in the same way as we must take precautions with data and money management usage via our computers, we just need to become more cautious with how we use the various cashless payments cards available to us.