• From The BBC:

    The bank HSBC is cutting the cheque guarantee limit on some of its customers’ debit cards.About 300,000 customers have a £250 guarantee limit on their cards, which is now being reduced to the standard £100 limit for most other customers. HSBC said it wanted to cut losses from cheque fraud and to discourage people from spending money they did not have. The banking industry intends to phase out the cheque guarantee associated with bank cards from mid-2011. Many retailers no longer accept cheques in their shops and stores, and last year just 7% of all cheques written had been backed by a guarantee card. HSBC’s move applies to cheque payments only; debit card payments up to £250 will still be guaranteed. No problemHSBC said there was no particular problem with its cards being misused among its 10 million current account customers in the UK. “It is about reducing risk from a mechanism that allows a customer to continue to make purchases from their current account when they…

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    Posted by Jon @ 8:23 pm

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