Abbey One Time Passcode - OTP

dealsearcher

I too think it outrageous that Abbey are doing this. Maybe a lot of people nowadays carry a mobile phone around with them all the time. When I go out I do carry my mobile but I use online banking only when I am at home where I know my connection is secure. I would not use online banking at an internet cafe where I may have my mobile with me but not my bank card or card reader. On the other hand when I am at home my mobile is often switched off (I have a landline to use) but I would have my bank card and card reader. And if I did not have my bank card at home then I had better start worrying because I should do!

Abbey are now saying you cannot use internet banking unless you have a mobile at your expense and tough if you don't have coverage. Outrageous!

mary

You can use internet banking without a mobile phone, see my earlier posts. The only thing which slows things up is if you want to set up a new payment and you will have to go via telephone banking instead.
I do not have a mobile phone but still use my 2 current accounts and 3 savings accounts online.

dealsearcher

mary wrote: »

You can use internet banking without a mobile phone, see my earlier posts. The only thing which slows things up is if you want to set up a new payment and you will have to go via telephone banking instead.
I do not have a mobile phone but still use my 2 current accounts and 3 savings accounts online.

Correct. It would seem you can move money around your own accounts but without making any payments or using your accounts in a way that progress should be taking us, that is true online secure banking. It can be done. My Nationwide accounts can be used online with a card reader and bank card. Secure and simple.

mary

Lloyds you can as well, without a card reader, but they can manage as extra security to telephone your landline number, not a mobile.
Likewise Nat West with a card reader.

Sanderson247

I also do not have a mobile phone.
Abbey say that they will not charge to send you an oOTP via sms but are you charged for receiving them?

Nod_Nolan

as posted on another thread regarding the same subject

to make it worse the system is pointless.

obviously it's there in case anybody gets into your bank account after using any key-logging programmes or other phishing scams.

While it sends a message to your mobile phone with a one time password, it seems that there is no protection on changing this mobile phone number once you are online. It is just a case of going to account details and changing the number.

So basically, once fraudsters get wind of this, instead of a one step process of "transfer money" all they have is the added stage of "change mobile number".

I e-mailed Abbey about this, and they told me that they texted the old mobile number when the number is changed, but how quickly can you start panicking and phone up the Abbey before your money is out of the account.

it is a ludicrous system.

Rafter

Don't work for Abbey but think this system sounds a lot simpler than having a different calculator type unit from every bank you are with.

Can't see why they can't use your home number if you don't have a mobile and text the number to that for you? You won't be able to make transfers away from home, but at least they would be secure.

You have a choice, either you get a rubbish rate of interest and more charges to cover the fraud costs when people don't install anti virus software, respond to phishing e-mails or dont' shred their statements or you get a better rate of interest but have the slight inconvenience of two factor authentication when you want to make a transfer to a new recipient.

R.

dogstupid

The point that only one other person has picked up on, is the text message to authorise a transaction does not prevent fraud taking place. As a fraudster has access to your account online they can change the mobile phone number to one of their choice. The only way Abbey let you know this is happened is they send a text to the old number saying this has happened.

I assume it is then the responsibility of the account holder to tell Abbey in time to stop the transaction. Are you all happy with that? Well I'm not.

I work in a financial environment where system security is critical and I can't understand why they didn't implement a service where changing the phone number required an authorisation from the old phone before it was actioned. That would make it much more secure and show Abbey were serious about account security.

mary

Why not suggest it to them (for a fee!!!) in writing. They seemed to welcome any suggestions I had made when they contacted me for 3 separate surveys finding out why I hadn't signed up to the OTP system. They were looking for little "nuggets of gold" as to how the system could be improved. So you are in with a chance!

LittleVoice

Rafter wrote: »

. . . think this system sounds a lot simpler than having a different calculator type unit from every bank you are with.

Though banks that use those machines do provide one with their own branding on, they are actually interchangeable.

So you only need to have one operational at any one time - and it means you have at least one spare with a charged battery ready to replace any faulty one.

I certainly use the same card reader every time I make a payment of any amount from my FlexAccount and occasionally with RBS (when I set up a new payee not every time I make a payment to that payee).