My husband and I are travelling to Melbourne in mid-August (we visit twice a year for his work). I've been reading that as of August 1st, Magnetic Stripe readers will be phased out and Australia will be going to a "Chip and Pin" system .... but people with a foreign credit card (e.g. such as me from the U.S.) can still sign as long as there is someone there to take our signature. (See http://www.pinwise.com.au/). Thus, we had new credit cards issued with a chip which are "Chip and sign" cards (we have not been able to locate anywhere in the U.S. which has a "Chip and Pin" card!). Two questions:
1. Is my understanding of this correct? (I'd hate to be in Australia for two weeks with a non-functioning credit card!)
2. Given all of this, does anyone know what is happening to ATM debit cards? We typically use my Bank of America card at Westpac ATMs. My card does not have a chip -- instead it is a magnetic stripe with a pin. Will the ATM still take my magnetic stripe card?
Thanks for any assistance.