HSBC to issue security tokens to its customers

infocom

I think the only time this would be acceptable is if it was a standard 3rd party device that all banks use. One device for all my security access, then its OK. Like a digital password wallet. Wont mind it then. I said it here first dragons den.

infocom

When you register, it asks for the device serial number. I'm not sure if it'll accept the serial number of your business device on your personal account?

On the HSBC FAQ page it states they will not work vice versa. They are linked to your account, and business and personal are different. So two devices I am afraid! I already broke and lost my other one a couple of times so had to wait ages with no internet bank until a replacement came twice. And as its business I could not pay staff. (I hate telephone banking by the way )

noodle

infocom wrote: »

On the HSBC FAQ page it states they will not work vice versa. They are linked to your account, and business and personal are different. So two devices I am afraid! I already broke and lost my other one a couple of times so had to wait ages with no internet bank until a replacement came twice. And as its business I could not pay staff. (I hate telephone banking by the way )

You pay your staff late because you keep losing your reader and you 'hate telephone banking'?

dzug1

Plxply wrote: »

I would much rather they just used one password and required it to be of a certain length and complexity, especially as my banking passwords are always longer than 20 characters it seems I will now have to remember 3 of them. Questions like "What's your mothers maiden name" annoy me as it is quite easily discoverable information an provides no form of security.

You don't have to give your mother's actual maiden name. Although that gives rise to problems in remembering what name you gave when you need to use it:)

Mr_K

Fortunately haven't been sent one of these yet. What happens if you just ignore it and don't register ? Will they really cut you off ? Are they that desperate to get rid of customers ? If so, I'll gladly oblige them.

samwsmith1

They will block access after 30 days on the date of there letter.

Plxply

dzug1 wrote: »

You don't have to give your mother's actual maiden name. Although that gives rise to problems in remembering what name you gave when you need to use it:)

I often keep them within my KeePass vault, however I encounter problems when I have to use phone banking. It normally results to this:

"To go through with security can I have your mothers maiden name?"
"Sure, it's t9h3-ReQ"

Baldur

samwsmith1 wrote: »

They will block access after 30 days on the date of there letter.

There is provision for an extension of up to another 30 days, depending on circumstances, having had a long conversation with one of their telephone Internet Banking CS agents when enquiring what would happen if I was abroad for an extended period when the Secure Key was delivered and would, therefore be unable to access my account.

In the event, I was issued with a Secure Key by the branch straight away, on the authority of the Internet Banking agent, so that the potential problem would not arise.

infocom

@noodle

You pay your staff late because you keep losing your reader and you 'hate telephone banking'?

No I dont pay anyone late, as stated I have to do it via telephone banking which will take a lot longer (or cheque!). Using internet banking its done in 5 minutes.

ngins

Got my letter this morning and whilst I understand the legitimate need for security (with millions of customers am sure that the number of people that do fall for phishing and other scams is large), I really hate the implementation. Various forms of two factor authentication and token generators have been around for well over 10 years, and still the implementation they go for is yet another dongle.
Why this cannot be implemented as a smartphone app I don't know - Vasco (and RSA) already make Android and iPhone apps and there are other device based authentication methods out there using SMS etc for non-smartphones.
To me this is a huge missed opportunity to introduce something of real benefit to customers like an enhanced mobile banking app combined with the authentication and I guess we can only hope that there are plans to introduce something like this in the future.
For me personally this feels like a backwards step.