BSP ATM cards will no longer be retained

 BSP ATM’s will no longer retain a customer’s bank card after three failed personal identification number (PIN) attempts.

The bank has programmed its ATMs to instead reject the cards and put them on hold for 24 hours.

Customers can then try to enter the correct passwords after the 24 hours have elapsed, BSP said in a statement yesterday.

It added that customers can still perform transactions during this period using other options such as internet or mobile banking.  

An analysis by the bank has revealed that more than 8,000 cards are retained every month because of failed PIN entries, resulting in 16,000 branch visits monthly by customers.

Head of e-channels Bram Peters said that one contributing factor for long queues in branches was customers turning up to reclaiming retained cards.

He said the new protocol was convenient and cost effective for both the bank and the customer.

“This option does not apply to bank cards that are registered as lost or stolen. 

“If the card has been stolen or lost the card will still be retained,” Peters said.