AIBU to remove the CVV from my credit card?

[RaspberryCheese]

Having had the temerity to have a weekend away in a European city , i now find my CC blocked due to a security trigger. I doubt it involves real fraud or loss of money . Its just down to software algorithms and rules in the system.

I have often thought though that one of the major routes to fraud could be prevented if everyone scrubbed the CVV off the back of their CC and made a separate note of it.

The question is, would the banks wear it or would it create a bigger problem?

I find it bizarre that someone can acquire CC details and just used them on line and order/buy stuff.

All it needs is for someone to have sight of your card on both sides. Easily done. But with the CVV scrubbed, it would surely help to block a lot of fraud?

My Tesco account and card were frozen last week. My crime? I tried to move some money from one of my tesco accounts to the other. Both my accounts both with the same bank. Unusual activity apparently.

I have done this with ever card I and DH have had for the last 20 years... I make a note of all the numbers in my phone and address book (in code of course).

When my fil had some fraudulent purchases from his bank account and we changed his bank card the Crime Prevention officer actually suggested we do this and keep it written down separately (disguised so it didn’t look like a 3didget number)

@LovingLola +1 for Revolut. It’s fab.

Mine has worn off (as has the signature strip so it says my card is void) but I have had no problems at all.

Also, many sites that insist on a CVV will not notice if you put a made up one in.

@LovingLola

Yes, we swear by Revolut.... it works entirey with your phone.....and if anyone is interested they have an offer on until midnight tonight - the card is free, not the usual £6 issue fee.

I've often seen it suggested that relatives of anyone with dementia (or anyone else very naive/vulnerable) scrub off the CVV, to stop them being scammed, either online or over the phone, or by dodgy buggers on the doorstep.

It does make sense yeah, only problem is if people forget it like they do pin numbers, but just means getting another card.

But if they don’t shop online then they shouldn’t need the number anyway should they?
Fil never shops online but the fraud was all online so if the cvv number wasn’t on his card it couldn’t have been used in that way

You don’t need to advise if you go abroad. I travel globally and never contact my credit card company - I haven’t ever had a problem.

"I have often thought though that one of the major routes to fraud could be prevented if everyone scrubbed the CVV off the back of their CC and made a separate note of it. "

Is there any evidence that CV2 obtained by physical inspection of the card is a major route to fraud?

@TheFaerieQueene Actually most banks and card holders reccomend you do tell them; I used to travel frequently and any "unusual" travel activity (a different country from the normal ones) got be blocked on at least three occasions. My company credit card provider was always notified by our PA and i never had an issue with it (apart from the time i was delayed home by two days and they noticed i was one day over the date on the file note and in a random city).

Apparently,topping up my phone with my credit card is seen as 'unusual activity' by my credit card company.

Actually most banks and card holders reccomend you do tell them

Unfortunately, they're getting a bit hot under the collar for machine learning and shit, and write things like "You no longer have to tell us when you are travelling abroad. Our fraud and security systems are always on the lookout for suspicious activity on your accounts meaning you can relax when you are away making going abroad stress free."

Leaving aside the sentence construction (that second sentence isn't wrong, but I can't believe its author is proud of it) it's noticeable that since this changed a few months ago, I've had phone calls and hassle while abroad. I didn't in the past.

No they don't need the number if they don't shop online. More meaning the online shoppers that may forget the number, like me. but like I say you just get a new card.

Its recommended by Martin Lewis that you use your CC when abroad for better exchange rates.

Doesn't apply to all credit cards.

Hmm..looks like you take your chances with the dodgy algorithms whatever you do. Better take some old fashioned cash, despite the scoffing of the phone starers.

Doesn't apply to all credit cards.

Doesn't apply to most credit cards. There are credit cards which give interbank rates with no commission, but they are relatively rare, and you need to balance that against other benefits they have. My parents are so obsessed with foreign currency costs (which affects a tiny proportion of their spending) that they pass up on other things which are far more valuable and/or useful. A classic case of spending a tenner to save a fiver.

I always rub the CVV off my card.

I also use a Visa Debit card now, instead of a credit card. I keep most of my money on an online only account, and then transfer enough money onto my card for the next couple of days at a time. That way if someone steals the card and uses contactless for lots of small transactions, they'll only get a couple of days of money anyway and can't spend too much.

Another vote here for Revolut, brilliant!

If you'd struggle to remember your actual CVV number if you rubbed it off, you could re-write a different number eg back to front, or add 1 digit to each ie 694 would become 705. That'd make the person who found your card struggle as the CVV number would not match, so the card would decline and be blocked after a couple of attempts.

Most card numbers and cvvs are copied from using them through retailers or retailers record being hacked into or viruses following your keystrokes and scam emails, so scrubbing it out won't make much difference, would maybe help prevent it being copied at atm or when it's stolen though.

Best thing to do is make sure you aren't open to scam emails people filling in emails with their details when it claims to be PayPal Hmrc or iTunes, make sure you have up to date anti virus software.

Fraudsters transfer money between peoples savings to current which is why transfers between your own accounts can be stopped

Your card isn't stopped only cos you go abroad automatically it's stopped where countries are having high fraud or copied cards and you can and are more likely to have your card copied abroad so...

I've been doing this since they introduced the CVV.

It's not needed in-store, so why expose it ?

(I caught one shop trying to put debit card transactions through as Cardholder Not Present, when I clearly was. For some reason I was the bad guy when I decided to go elsewhere ....)