HSBC to issue security tokens to its customers

Malory

How big is this thing? DH has an HSBC business account and he has a small device that he carries on his keychain.

callum9999

circuit wrote: »

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.

They'll all do it eventually.

Perhaps you'll be willing to waive all rights to claim back fraud on your account in return for not using it? It's all very well saying "it's inconvenient and I don't want to use it" when it's the banks money at risk and not your own.

redmalc

Just to reiterate the last posting,I had my HSBC Premier card cloned last week and the bank were very good in sorting the issues out and ensuring what transactions i had made and removing the fraudelant ones,Well done HSBC

NFH

circuit wrote: »

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.

What about Barclays? They will soon have the best of both worlds in that you will need a card reader only to set up new payees that are not on the bank's approved list.

glider3560

I received my letter from HSBC today. Should receive the "device" within 5-6 weeks. Online access will then be disabled if I don't activate it within 30 days.

Olipro

callum9999 wrote: »

They'll all do it eventually.

Perhaps you'll be willing to waive all rights to claim back fraud on your account in return for not using it? It's all very well saying "it's inconvenient and I don't want to use it" when it's the banks money at risk and not your own.

You've hit the nail on the head there, anyone who thinks they don't need the device, or that it's silly/unnecessary should have the option of completing a signed waiver which absolves the bank of all liability for any fraud occurring over channels that would otherwise have required the usage of the device, then let's see who sticks their money where their mouth is.

Lokolo

Olipro wrote: »

You've hit the nail on the head there, anyone who thinks they don't need the device, or that it's silly/unnecessary should have the option of completing a signed waiver which absolves the bank of all liability for any fraud occurring over channels that would otherwise have required the usage of the device, then let's see who sticks their money where their mouth is.

To be honest, I'd be fine with that.

Turtle

Some people's opinions are rather odd I think. It won't be long before all UK banks are doing this - you haven't been able to bank in China for years without one of these types of devices.

I agree with those saying if you don't want to use it the bank should hold you responsible for any fraud on your account.

I can assure you as well, that first direct have changed internet banking plus to deal with this and I can't imagine why Egg won't have done the same.

someone

Nothing different other than they have taken the function currently on the chip and put it in the keypad. Not too keen on this and seems to have more problems than card readers. e.g. if you don't have this device on you then your out of luck, where as card readers you just need your card that your likely to have in your wallet + find a card reader (I'm sure someone has a spare one in the office ...)

NFH

Turtle wrote: »

Some people's opinions are rather odd I think. It won't be long before all UK banks are doing this

Exactly. However, of those who object to this introduction of two-factor authentication by HSBC and other banks, who would object if it was required only in order to set up new unknown payees? This is what Barclays are going to do from 17th May 2011.