Tuesday

5th Mar 2024

Single number to report lost credit cards

In future people all over Europe wanting to cancel their lost credit card may only have to remember one telephone number.

The European Commission has launched an on-line consultation to find out if people are satisfied with existing card ‘blocking’ services and whether a new pan-European service is needed.

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At the moment there are many different phone numbers in Europe for cancelling lost and stolen cards - sometimes even more than one within one country.

Under the planned system, people would be able to get in touch with their bank from anywhere in the EU, by using the same number.

The Commission believes that having one number would speed up the notification process. They say it is not always easy to know which number to call, particularly when travelling abroad or distressed.

"In parallel with improved security for electronic payments, we need to explore ways to make the reporting of lost and stolen cards more efficient", said internal market commissioner Frits Bolkestein.

Consumers need to be convinced that electronic payments are safe and easy to use without problems, the commissioner added.

According to a recent Eurobarometer survey, 83 percent of EU citizens think that introducing a single number would be an effective measure. About half of those questioned were even prepared to pay for such a service.

This consultation is open via the Commission's "Your Voice in Europe" internet site and will run until 30 April 2004.

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