BANKING AFFAIRS

Detailed explanation-1: -Writing “SEE ID” on the signature panel of your credit card won’t provide any meaningful protection against fraud. Back in the days when credit card transactions were verified by comparing the signature on the card to the signature on a sales slip, some people would write “SEE ID” on the signature panel.

Detailed explanation-2: -Writing “see ID” or “check ID” on a credit card might seem like a great way to protect from fraud. But it actually may invalidate the card. That’s because only your signature that matches with a signature on a sales receipt is acceptable. In some cases, the merchant may ask you for another card to make your purchase.

Detailed explanation-3: -The signature indicates that the card is valid and active. Using an inactive card for payment may be against the store owner’s policies or the conditions between the business and the credit card company. Showing ID makes the process slower.

Detailed explanation-4: -Therefore, when a merchant sees a signed card, they know that there is effectively an agreement between you and your bank as to how you can use it. A merchant is within their rights to reject a card which has not been signed on the back.

Detailed explanation-5: -Use a felt-tipped pen, and sign your name as you’d sign on any other document. Do not leave the back of your card blank, and do not write “see ID” instead of signing your name.