ANZ Credit Card Security Features

ANZ credit card security is designed to reassure the customer that everything is being done to prevent security breaches related to their credit cards.

Many people worry about the security of their credit cards, but anyone who has a Visa, MasterCard, or American Express credit card is automatically covered against fraudulent use by their zero-liability guarantees. Where a credit card does not carry this guarantee, liability is limited by law to $50.

For the customer, these measures can help prevent the hassle of having to cancel a card and re-order another, and avoids the shock of receiving a credit card statement that shows a balance hundreds or thousands of dollars beyond what was expected. For the card issuers it obviously reduces the risk that they may have to absorb the “hit” of fraudulent activity themselves.

These are the ANZ credit card security measures in force to protect your ANZ credit card:

ANZ Falcon

This is perhaps the cornerstone of ANZ credit card security. ANZ Falcon identifies transactions that are possibly suspect or unusual, and the customer is immediately called to confirm the transaction. If that call cannot be connected, Falcon may choose to reject the purchase and block any further use of the credit card. For this reason, foreign travel should be notified to ANZ so that foreign purchases are not automatically rejected due to the location.

Online shopping guarantee:

ANZ’s online shopping guarantee backs up that offered by Visa and MasterCard, and offers a zero-liability guarantee provided the customer has not contributed to the loss, perhaps through allowing someone else to use their credit card. The customer is also expected to contact ANZ as soon as they notice anything may be amiss with their account.

Pen or PIN?

There are two options available when making transactions where your credit card is physically handed to the merchant. You can opt to sign for your purchase as has always been the case, or you may be offered the option of using a special merchant machine and entering your secret PIN (personal identification number). The use of PINs is certainly the way forward, and is now the norm in some other countries because PINs are far safer than using a signature which anyone can learn to forge.

Micro-chipped cards:

ANZ credit card security has been greatly enhanced by the addition of a microchip in their cards. This makes it far more difficult for your credit card to be copied. In Europe and Asia, micro-chipped credit cards are already in widespread use and this has reduced the incidence of credit card fraud. In Australia, ANZ was the first bank to issue chipped credit cards.

Verified by Visa and MasterCard SecureCode:

This is an extra line of defence provided by Visa and MasterCard for shopping online with vendors who have signed up to the schemes. This requires that a customer password is given before any online purchase is authorised. The customer must also opt to sign up for the scheme in the first place.

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