HSBC to issue security tokens to its customers

ChiefGrasscutter

alanq wrote: »

Mobile phones do not cover 100% of the country.
.

Indeed.
Reading the various Santander and Tesco threads.... when a text is sent to the mobile under certain circumstances by the bank - those without coverage at home or wherever they happen to be are not amused when they become locked out of their account.

MoneySavingUser

Whilst I agree with a number of the points made in this thread I am quite ok with the secure key atm.

It doesn't take long to turn it on, enter pin, enter key into browser and you are in. Not much of a difference from before in terms of time.

I prefer it to the Barclays one as I don't need to get my card out of my wallet etc.

Though I wish it was more sturdy sometimes when I press the keys it feels as if it is about to fall apart!

adindas

MoneySavingUser
It might work for you.

But think about many other people who travel a lot or need to access their accounts from different places. Offices, home, etc ?

Do they need to carry their secure key to everywhere ?

How about people who are banking with several other banks who also need seperate card readers/secure key. Do they need to carry all of them when they are traveling or want to access their banks from their office ?

I think the system like from Santander ot Llyds TSb might be more practicewl to send the PIN to ypur mobile any time you set up a new payments.

MoneySavingUser wrote: »

Whilst I agree with a number of the points made in this thread I am quite ok with the secure key atm.

It doesn't take long to turn it on, enter pin, enter key into browser and you are in. Not much of a difference from before in terms of time.

I prefer it to the Barclays one as I don't need to get my card out of my wallet etc.

Though I wish it was more sturdy sometimes when I press the keys it feels as if it is about to fall apart!

MoneySavingUser

Yes I can see their point of view hence my "I agree with a number of the points made in this thread"

As for mobiles - that has its own issues too - some people might not have a mobile/bad signal/not know how to use one

adindas

Security code is only sent to mobile for a newly set up payment. For payment which have been done previously, it only Password is needed.

People who do not have Mobile could use Landlines.

But anyway almost every people who is using online banking, will have Mobile phone anyway as you will not be able to set up online banking wihtout a phone number. How could they contact you if there is suspicious transaction if you do not have cintact number ??

I would be able to undestand if the secure key was only needed to set up a new payment.
But HSBC secure keys is ridiculous and a kind of pain in the a*s as you will need it each time you want to access your online banking even just to check your balance.
.... Is this security ?????

MoneySavingUser wrote: »

Yes I can see their point of view hence my "I agree with a number of the points made in this thread"

As for mobiles - that has its own issues too - some people might not have a mobile/bad signal/not know how to use one

Gromitt

If you just want to check your balance wouldn't it be easier to just use telephone banking? No need for secure key then.

adindas

Yes the current balance could be known from TB and I believe you get automatic response,.

But I need to make it clear here When I do or someone transfer to may bank a/c I want to know whether the money has arrived or how much do they transfer and at the same time the total balance so I know how much money I could withdraw. Sorry for confusion ...

Gromitt wrote: »

If you just want to check your balance wouldn't it be easier to just use telephone banking? No need for secure key then.

Toreador

adindas wrote: »

But anyway almost every people who is using online banking, will have Mobile phone anyway as you will not be able to set up online banking wihtout a phone number.

I set up mobile banking before I owned a mobile, and still don't have my mobile number registered with HSBC.

The issue for me is that the key card is needed whenever making payments, even for people you've paid before. Which in effect means I can only use online banking when at home, as the key card is to big to carry around. My current solution is to use a different bank account for mobile banking (which begs the question as to why I keep my HSBC account open, given they don't even pay me any interested - when I work out the answer to this HSBC will have lost another customer...)

adindas

I believe someone there at HSBC online banking team have made a mistake when they maka judgement about which technology to use and they arrive to use the stupid "secure key" decision.

The most terrible thing is that
- Even you just want to know whether the money you transfered a few minutes ago or transferred by someone to your current a/c you still need that "secure key"
- You want to make an instant payment that you have made before you still need that "secure key".

All of that effort they have made for instant FP, in which HSBC have been very good at have been negated by this.

Toreador wrote: »

(which begs the question as to why I keep my HSBC account open, given they don't even pay me any interested - when I work out the answer to this HSBC will have lost another customer...)

Caramac

Is anyone else still waiting for their secure key?. I got the notification letter in Sept but have not received my key yet. I asked in my branch in November but they said it hadn't been dispatched yet. I'm still allowed to log onto online banking and I haven't got any warning that I should be using my secure key to do so, so I don't think it will have been lost in the post.