Abbey - OTP - One Time Password

bandolero

I noticed the same today whilst checking my account. An additional layer of security that I'm not sure is required. They already request 3 items of information. Telephone Banking will eventually be operated by pin only in order to speak to someone. Another barrier and obstacle when it comes to actually wishing to speak to a human.

Where's the benefit to me as a customer using OTP?

Red_Ant

As others have said, security will inevitably be tightened, and for Abbey I think it's overdue - given you can access accounts like the eSaver account with it's higher interest rate meaning there is a temptation to hold more funds in there, moving to the current account when needed.

This approach will suit 99% of the population, and won't penalise everybody in the same way that the system the Nationwide uses - where you have to take your card reader everywhere you go, in case you remember you need to make a tiny payment to a payee you've had for years.

Let's face it, most people who are IT-literate enough to use Internet Banking will be able to use this simple add on.

A Pay as You Go mobile is less than £10 these days, and is always useful for emergencies. Those that don't like them can keep their number private, only giving it to those that really need it.

noh

Red_Ant wrote: »

As others have said, security will inevitably be tightened, and for Abbey I think it's overdue - given you can access accounts like the eSaver account with it's higher interest rate meaning there is a temptation to hold more funds in there, moving to the current account when needed.

This approach will suit 99% of the population, and won't penalise everybody in the same way that the system the Nationwide uses - where you have to take your card reader everywhere you go, in case you remember you need to make a tiny payment to a payee you've had for years.

Let's face it, most people who are IT-literate enough to use Internet Banking will be able to use this simple add on.

A Pay as You Go mobile is less than £10 these days, and is always useful for emergencies. Those that don't like them can keep their number private, only giving it to those that really need it.

But like the lady in this thread
http://forums.moneysavingexpert.com/showthread.html?t=2008405
there are those who have mobile phones but do not have mobile coverage at home.
Abbey should at least give the option of entering a non mobile number to receive the text.

CarriKP_2

mary wrote: »

I do not possess a mobile phone and don't intend getting one.
I have had 3 phone calls from Shabby asking me why I haven't taken advantage of the OTP system. I have already sent a letter of complaint to them, as I went through the same set of questions each time and wonder what they did with the first two I did.

However you can still see your online transactions.
Log on as normal.
Next page at the bottom when it says in a red box Register Now, underneath in grey and some days it is white there is another box which says Register Later. Click on that
At the bottom of the next page above the red box which says Register Later, there is in small blue print Prefer to Register Later. If you click on that it will take you to your online transactions.

Then at least you can see your own account, which I had difficulty in
working out a few weeks ago. However, if you do want to set up a payment to a new payee, the only alternative at the moment is to do it over the phone. More of a pain, but cheaper than buying a mobile phone!

I like the way Lloyds do it. With them you can give your landline number and within 10 seconds of trying to set up a payment you get a callback from them veryifying it's you doing it. I did point out to Shabbey that Lloyds can incorporate landline numbers, so why can't they!

So I am now waiting to see what their response is! I won't get too excited.

Many thanks for useful information Mary. I am in the same position as you - do not have a mobile phone and have no wish to get one. I find it quite arrogant of Abbey to assume that everyone has a mobile!
I also have written to Abbey but met with a stonewall response. We are certainly going to change banks and so it's interesting that Lloyds have more sense. I have wondered if Abbey have financial interests in the mobile phone industry ....
BTW managing accounts via telephone is not possible with the eSaver - effectively Abbey are withdrawing the facility from us so that account is already being wound down and we will shortly close it.

robertscott

Hi, I just want to join in and register my annoyance with the Abbey OTP move. Do they really want me to go into the branch to make every change I require ?

mary

No, you don't have to go into the branch everytime, you can use telephone banking with Abbey as well.