safe way to carry funds

[jpbago]

 

On 8/1/2017 at 7:33 PM, not so old china hand said:

I did a few searches on the Web to see if I could find out a bit more. Apparently the country's Central Bank told Philippine Banks they must be EMV compliant  (ie chip enabled ) by 1st January 2017. At least one bank has announced that it is fully compliant and will not support non-EMV compliant cards after 1st September 2017: only seven months after the deadline.

 

http://www.gmanetwork.com/news/money/companies/616948/psbank-to-deactivate-non-emv-cards-on-sept-1-as-it-shifts-to-chip-enabled-ones/story/?related

However I will still make sure I have sufficient cash and a Plan C when I next come to  the Philippines.

"Unlike a magnetic stripe card, every time an EMV card is used for payment, the chip on the card generates a unique transaction code that cannot be used again. This feature, known as dynamic authentication, makes it difficult, if not virtually impossible, and costly for fraudsters to counterfeit EMV cards,” the BSP said in a separate primer.

This quote above is from your link.

I used to call my bank to inform that I would be out of Canada but 3 or 4 years ago, they said no need to call anymore since my cards are EMV.

Edited August 3, 2017 by jpbago

[jpbago]

On 7/31/2017 at 6:20 PM, Dave Hounddriver said:

In all of these situations there is usually a security guard somewhere nearby but not always visible and not watching you use the machine.

In today's Panay News, there is a concern that most ATMs do not have a security guard nearby as a skimmer was found on an ATM two months ago in Iloilo on General Luna Street.

http://www.panaynews.net/a-security-guard-for-every-atm/