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No best answer has yet been selected by Bottom. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Chip & Pin is of benefit to the banks; it is of no benefit to you the consumer.
If there is a transaction on your card that you did not make, at the moment you can ask them to prove you made it by showing you a copy of the slip with your signature on.
With Chips & Pin they will just say that you must have made the transaction or not kept your number safe and its your fault.
If someone can see which PIN you're typing in then I suggest that you're at fault and not the bank or the shop. It's not very difficult to cover the keypad while typing it in. Chip and PIN will reduce fraud where the card is physically present (it's already proven to be able to do so in various other countries!) but may just shift it to "card not present" transactions such as phone or internet.
To Pinotage, what's the difference between your scenario and the bank looking at a signed slip and saying "that looks like your signature to us" ??
Oneeyedvic - are we blaming the bank for a customer forgetting their PIN now?
If this thread is a gauge of you guys' mood on a Friday of all days then I really worry about you!