BCOBS 7.4 Replacing a debit card

This rule applies to information about the time it takes a firm to replace a debit card which has been lost, stolen or stopped.

The firm must publish the following information about debit cards replaced in the relevant current account measurement period (see BCOBS 7.7.1R):

1. (a)

   the percentage of debit cards which the firm replaced on the same day;

2. (b)

   the average number of days the firm took to replace a debit card; and

3. (c)

   the number of days within which the firm replaced 99% of the debit cards it replaced.

The firm must publish the information:

1. (a)

   in the format specified in Table 8 of BCOBS 7 Annex 1R; and

2. (b)

   on the same webpage as, and immediately below, the information published under BCOBS 7.3.5R.

For the purposes of this rule:

1. (a)

   the time taken is to be counted from the earlier of the day on which:

   1. (i)

      the debit card is reported to the firm as lost or stolen; and

   2. (ii)

      the firm stopped the debit card for any other reason; and

2. (b)

   a debit card is to be treated as replaced only when both the card and (where relevant) personal identification number have been issued to the banking customer.