New Abbey One Time Password

molley

I logged on to my Abbey account this morning and found thay have introduced a new OTP...One Time Password service for certain transactions . Nationwide have been using a small standalone device like a calculator that you insert your card in to and that gives you a security number which works quite well but have Abbey gone down that same road ....NO...they have used a system that requires you to have a Mobile Phone and after you register and make a certain transaction they send you a password ( A OTP) by text .
If you don't have a mobile then you cannot use the system it seems ....why oh why have they done it this way?

Biggles

A few threads already on this:-

http://forums.moneysavingexpert.com/showthread.html?t=1876285
http://forums.moneysavingexpert.com/showthread.html?t=2006871
http://forums.moneysavingexpert.com/showthread.html?t=2008405

Not that they answer your question, of course......

Nod_Nolan

and 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.