HSBC to issue security tokens to its customers

NFH

Rodders53 wrote: »

Looks like I'll be opening another account... waiting until hsbc issue the cards to me and the wife (to ensure it costs then as much as possible) and then closing the account I've had since I was 18 and you needed a sponsor to open one.

That's a vindictive approach. Why are you so against HSBC implementing adequate authentication methods to protect themselves (and you) against fraud?

Mr_K

Oh great this is going to screw access up via Egg Money Manager. Over the top I think. It should be voluntary for those who want it. I'm willing to be responsible for my own actions by not clicking every link in emails etc. You really do have to be incredibly dense/careless to be a victim of online fraud.

notafan

Mr_K wrote: »

Oh great this is going to screw access up via Egg Money Manager. Over the top I think. It should be voluntary for those who want it. I'm willing to be responsible for my own actions by not clicking every link in emails etc. You really do have to be incredibly dense/careless to be a victim of online fraud.

I think you'll be ok with egg money manager - not sure youll need it to log in? But First Direct (which HSBC own) have internet banking plus - pretty much identical to egg money manager and i reckon they'll have taken that into account, plus first direct are probably on the road to getting this too as there internet banking is pretty much the same as HSBC just black and white instead of red and grey.

Your egg money manager is probably more at risk from being shut down by who ever ultimatley takes over eggs savings and other products, as i believe its still up for sale, and by the bragging from barclaycard about the deal they got on the card business looks like egg will be doing whatever to get rid - will the new owners might not even keep it going.

I figure it'll be only for payments like card readers are which is probably where the big risk is - sending money out of your account rather then logging into it. The message on there log in at the minute shows that the page is changing not that we'll need anything to help log in.

I still think they could have all got together and done something standard where it would work with any bank company and that wasn't something extra to carry about.

Lokolo

notafan wrote: »

I think you'll be ok with egg money manager - not sure youll need it to log in? But First Direct (which HSBC own) have internet banking plus - pretty much identical to egg money manager and i reckon they'll have taken that into account, plus first direct are probably on the road to getting this too as there internet banking is pretty much the same as HSBC just black and white instead of red and grey.

Your egg money manager is probably more at risk from being shut down by who ever ultimatley takes over eggs savings and other products, as i believe its still up for sale, and by the bragging from barclaycard about the deal they got on the card business looks like egg will be doing whatever to get rid - will the new owners might not even keep it going.

I figure it'll be only for payments like card readers are which is probably where the big risk is - sending money out of your account rather then logging into it. The message on there log in at the minute shows that the page is changing not that we'll need anything to help log in.

I still think they could have all got together and done something standard where it would work with any bank company and that wasn't something extra to carry about.

Egg MM, logs into all your banks and retrieves the amounts. So if it cannot log in then it can't get the data and will just throw an error.

That will annoy me though.

NFH

HSBC will be foolish if they require two-factor authentication just to log in. Requiring it for setting up new payees makes sense though.

I've just received a letter from Barclays stating that from 17th May 2011 they will be removing the requirement to use PINsentry (card reader) for transfers between your own accounts, payments to existing payees and payments to payees approved by Barclays.

If HSBC ignores Barclays' considerable experience and feedback in this area, they will suffer.

NFH

Fiddlestick wrote: »

Hardly.

RSA SecureID has been around for years and has not yet been cracked.

I have complete confidence in security tokens.

I agreed with you until the BBC reported yesterday that hackers have compromised SecurID.

System

Hope these are optional, or they can disable the system for you should you "lose" it and need to make an urgent payment

notafan

Lokolo wrote: »

Egg MM, logs into all your banks and retrieves the amounts. So if it cannot log in then it can't get the data and will just throw an error.

That will annoy me though.

I know, its exactly the same service as first direct internet banking plus so i would assume they would have factored this in.

Worst case scenario it'll hang and wait for you to enter the code although i'm with you on it being a pain...


Has anyone received anything from HSBC about this yet.

I'm getting messages when i log in saying the page is changing from 27th - no mention of the stupid carry abouts yet.

blueberrypie

notafan wrote: »

I know, its exactly the same service as first direct internet banking plus so i would assume they would have factored this in.

Worst case scenario it'll hang and wait for you to enter the code although i'm with you on it being a pain...

I use Account Unity and have an account with Barclays. Using the PINSentry login option, it does indeed hang and wait for you to enter the code. And yes, it's a pain.

Of course it's possible that HSBC will implement this for payments and/or adding new payees, rather than making it compulsory for simply logging in. But if it *is* required for logging in, the Barclays experience does tell us what's likely to happen with AU/FD+/EMM.

circuit

I've had my HSBC account for 20 years but I think I'll be paying my overdraft off in September and switching entirely to the Halifax. I use internet banking several times a day at work, home and on my phone. Being made to carry a glorified calculator around to move my own money is going to be really inconvenient.