Nationwide to start a new log in procedure.

Fedz

Paul_Herring wrote: »

...
The trouble with these of course, is if you have one for each set of credentials you have (i.e. one per bank) your keyring will get unwieldy and you're back to the inconvenience problem. SecurID is not suited to sharing the token.

This is 6 of 1 & ½ dozen of the other regarding convenience.

I like the security device over the card reader as it's less fiddly plus I only use one bank account as my main bank account at a time.

Its reasonable to say they should offer the ordinary current account customer the choice: Security Device OR Card Reader

premierfella

glider3560 wrote: »

Need cash, consider using a Nationwide ATM.
Members withdrawing cash from non Society ATMs costs millions of pounds per year.

A long shot I know, but does anyone know roughly how much each bank is actually charged per transaction for its customers using competitor cash machines?

EarthBoy

I should think they keep that information top secret.

Yes, it does cost Nationwide money every time one of its customers uses an ATM at a different bank, but they also make money whenever customers of those different banks use a Nationwide ATM.

Fedz

I can't even remember last time I used a cashpoint :rotfl:

What about cash-back at supermarkets. Does your bank get charged as though it was a cash-point withdrawal at a 3rd party cash-point machine?

knightfox

Fedz wrote: »

I can't even remember last time I used a cashpoint :rotfl:

What about cash-back at supermarkets. Does your bank get charged as though it was a cash-point withdrawal at a 3rd party cash-point machine?

I try to avoid cash points. They are one of the main areas targeted by fraudsters. So I get cahback from the checkout. Even local tescos do this and much better than a machine outside.

Paul_Herring

Fedz wrote: »

What about cash-back at supermarkets.

It actually wouldn't surprise me if it was the other way round and the banks charged the supermarkets, as part of the 'payment by card' fee that's usually a percentage of the amount of the payment - i.e. that extra £50 quid cashback you ask for earns the bank, and the card machine supplier (at, ohh, say 1.5%) an extra 75p.

Does your bank get charged as though it was a cash-point withdrawal at a 3rd party cash-point machine?

See above - it's more likely the 3rd party cash machine operator getting charged, (your £5 withdrawal fee has to go to more than just the operator of the machine and the person who asked for the machine to be there.)

infomonkey

Hmm I really don't understand the "logic" of this nationwide move.

Two factor authentication HELPS but is not secure. You can still with the HSBC and other systems be "man in the middled" by a keylogger stealing your one time login and bouncing your session ID.

With the current nationwide system you only need your card reader to authorise an outgoing transaction to another account. So by its very nature it is more secure.

I wish HSBC etc would require auth at the point of transfer rather than just at the point of logging in to see a balance.

infomonkey

Sorry what the MITM attack would appear to you as would be you logging in and then appearing to be bounced out of online banking. Or just redirected back to the login page.

Fedz

kk so the HSBC security device / dongle is just for logging in & not auth of outgoing transactions? If so that's no good really!

rb10

Fedz wrote: »

kk so the HSBC security device / dongle is just for logging in & not auth of outgoing transactions? If so that's no good really!

Yes - it's only for logging in to the system; you can then make transfers without it.

I actually like it, it's really simple & quick to use. It would be nice if you could have multiple devices registered to the same online account (as each device is unique to the user).