Word: cashes
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...German banks have been working round the clock for the past week to try to fix the problem, which involves reconfiguring tens of thousands of cash machines and payment terminals in German stores and supermarkets, as well as those in countries visited by vacationing Germans, to be able to read the faulty chips. Officials said that replacing all of the cards would simply be too costly and time-consuming. (See the worst business deals...
...Over the past few days, bank officials say that most cash machines in the country have been reconfigured and are now reading the cards again. But they say that most payment terminals won't be fixed until at least Monday, which has led some crafty consumers to come up with their own solution - covering the faulty chips on their bank cards with tape so tellers can process payments through the magnetic strip instead. But consumer groups point out that magnetic strips are not as secure as chips, and they've urged the banks to solve the problem as quickly...
...financial-services department of the German Consumers' Association, tells TIME. "It's a lousy mistake - obviously the banks didn't test the software properly beforehand." Consumer groups say the banks have only given out piecemeal information to customers who are confused about which cards they can use in cash machines. German Consumer Minister Ilse Aigner has also criticized the banks' handling of the situation and said that consumers shouldn't be held liable for any bank charges they incur. (See pictures of the dangers of printing money in Germany...
...Until the banks fix the problem, Germans will have no choice but to be patient. Or they could always pay for their goods the old-fashioned way - by cash...
...very convoluted game of poker that goes on—rarely do any of the elected councilors want to show their hand publicly," Winters said. "Honestly, it's just a little extra cash and a little bit of honor over their colleagues...