25.07.2017
The majority of Austrians does not know GeoControl
The majority of Austrians does not know GeoControl. Only 40 percent of the Austrian population know that due to this security function the withdrawal of cash is only possible to a limited extent in certain countries outside the EU. According to a current survey carried out by Integral on behalf of Erste Bank und Sparkassen, 60 percent have never heard of GeoControl before.
About two and a half years ago, Geo Control was introduced by the Austrian banks in order to prevent the so-called skimming fraud, the readout and copying of the data on the magnet stripe. GeoControl is particularly unknown to the younger generation. Only 1 in 4 of the people aged between 14 and 39 has heard about this security function before. Information about it increases with age though: 1 in 2 Austrians aged between 40 and 69 knows what it is. From the age of 70, this knowledge decreases again: only 39 percent of people belonging to this age group know GeoControl.
Get informed about GeoControl when travelling abroad
Although GeoControl is not widely known, the security function fulfils its purpose. Since its introduction in December 2015, the number of skimming cases could be considerably decreased. ”This confirms us that this function provides a high degree of protection against card fraud“, says Ertan Piskin, Head of Card Business at Erste Bank. Piskin’s tip before a stay abroad:”Have a look at the country list of your local bank, this can spare a lot of trouble.” Erste Bank und Sparkassen have listed those states on their website where ATM cards can be used without any restrictions. If the country one wants to visit is not included in the list, the GeoControl function can be deactivated during the stay abroad. “At our bank, you can do this within seconds via digital banking, CardControl App, by calling the service hotline or contacting the banking consultant”, Piskin informs. The ATM card is then unlocked for worldwide use again. After a certain period of time – the length of which can be determined by the clients themselves – GeoControl will be automatically activated again.
Good to knowWhat is skimming referred to ATM cards?Skimming is a special form of bank card fraud. At manipulated cash dispensers, PINs (personal codes) are spied out by means of a camera; card data on magnetic stripes is read out from the magnet stripe and copied on fake cards. Once the PIN is known and the card duplicated, cash is withdrawn in countries outside Europe. The GeoControl function limits this kind of misuse at no cost. What is GeoControl? GeoControl is a service available free of charge to all holders of an Austrian ATM card. This function restricts cash withdrawal in certain countries outside Europe. In this way, card holders are protected against skimming. GeoControl was introduced in Austria on 14 December, 2014.
Further information available at: https://www.sparkasse.at/sgruppe/privatkunden/konto-karten/konto-leistungen/geo-control
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About the survey: Erste Bank hired the market research institute Integral to conduct a telephone survey on means of payment when on holiday. Between 6 and 19 June 2017, 500 people were interviewed by telephone regarding their summer holiday plans – incl. GeoControl. The results are representative of the Austrian population aged 14 and over, i.e. around 7.6 million people.