OT Purpose of cc chip
 

OT

Thinking of going to Guatemala, to see how it compares to 1971.

12 tips to traveling in Guatemala, some sort of silly (Don't rush to
join a demonstration.). But this one is curious. Quoted in full:

10. Don’t Use Public ATMs

There are many scams where thieves attempt to steal credit card numbers and PINs from ATMs

Good advice. A problem in the US too.

. Many tourists have been victims of credit card scams where their card information is stolen and fraudulently used.

More about the topic.

And even though ATMs are readily accessible, most of them are too old to even read the chip in your new bank card. That’s even more reason to always have some cash on hand.

I thought the chip was there for the owner of the ATM or the merchant
who was giving money or things in the transactiion, to give him further
assurance that the card is good. Not to benefit the cardholder.
That's why the banks told these merchants that if they didn't get new
card readers, they wouldn't be reimbursed for money fraudulently
obtained from them. (if the chip would have prevented it, I assume)

But are there not still thousands of such card readers at merchants in
the USA who don't want to spend the money for a new reader? And even
if not, if the ATM in Guatemala can't read the chip, it can still read
the magnetic strip, and it will still give you money, Yes?

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