I prefer the ATM card to be PIN based, as I do not need or want
a debit card.
Should I lose my ATM card, the finder need to break my PIN in order
to withdraw cash. With the debit card, the finder need only to
scribble to make purchases.
Sales assistants are notorious for being lax about verifying the
identity of the of the card presenter. In fact they don't bother at
all. They just swipe. If the card is "good", ie not reported lost,
or over limit, they just process and release the goods. Therefore
instead of withdrawing cash, the finder make expensive
purchases.
The bank will hold you liable for all successful transactions,
until the card is cancelled.
Good luck to you if you don't realise your card is missing, or you
can't report immediately that it is lost.
You are at the bad end of the bargain with the bank on this.
