HSBC to issue security tokens to its customers

KennyDies_2

Myself and my other half have a joint HSBC account and we are in the process of moving it to first direct due to the card reader.

The whole point of internet banking is the ability to access it anytime anyplace, not carry around card readers for each account.

My current account with Intelligent Finance has very useful security:

• You initally set up your mobile over the phone
• When you create a new payee IF sends a verification code to your phone

The chances of my phone AND my card being comprised at the same time is very unlikely and it prevents having to carry around extra items

coolesticeking

KennyDies wrote: »

Myself and my other half have a joint HSBC account and we are in the process of moving it to first direct due to the card reader.

The whole point of internet banking is the ability to access it anytime anyplace, not carry around card readers for each account.

My current account with Intelligent Finance has very useful security:

• You initally set up your mobile over the phone
• When you create a new payee IF sends a verification code to your phone

The chances of my phone AND my card being comprised at the same time is very unlikely and it prevents having to carry around extra items

I've got a feeling that these devices will be required with First Direct in time - They are both part of the HSBC Group.

KennyDies_2

coolesticeking wrote: »

I've got a feeling that these devices will be required with First Direct in time - They are both part of the HSBC Group.

I will be moving accounts again then

izools

They may introduce a restricted login for doing so withuot the reader.

I remember when I had a Pin Sntry thingy from Barclays Bank they allowed you to log in without it but you weren't able to set up new payees etc.

I still perfer Lloyds TSB approach above all else - you get a member ID, password, and security word. If you want to set up a new payee or do any other "high risk" things online, they call you (landline or mobile, you choose at the time) and you enter the number displayed on screen.

frogman23

Anybody out there with a UK HSBC account but living outside the UK? If so, have you had, or been offered, a Secure Key? The reason I ask is that, although I use Internet banking from France where I live, the website does state that Internet Banking is for UK users only. Just wondering if they'll send me the key in France or turn off my Internet Banking - HSBC do seem to do some strange things without telling their customers - my aged mother had been an HSBC customer for 60+ years and they closed the village branch where she banked without telling her (and many other clients also).

IceCreamDreams

It's just a pain in the bum as I am a new HSBC customer and have been waiting 3 weeks for this Secure Key thingy to arrive - I can't access internet banking until it gets here...:(

meer53

KennyDies wrote: »

Myself and my other half have a joint HSBC account and we are in the process of moving it to first direct due to the card reader.

Watch this space !

Really, though, how much of a hassle is it going to be ? The majority of people carry a wallet or purse, it's very small.

masonic

meer53 wrote: »

Watch this space !

Really, though, how much of a hassle is it going to be ? The majority of people carry a wallet or purse, it's very small.

Most people carry a mobile phone around with them too. Why can't they use that?

Mr_K

meer53 wrote: »

Watch this space !

Really, though, how much of a hassle is it going to be ? The majority of people carry a wallet or purse, it's very small.

It is going to be a hassle. The lack of flexibility of being able to view your account/ make transactions anywhere is a major backward step. Not convinced of the security argument; they need to treat their customer like adults who can take responsibility for their own actions. Possibly could accept it, if it was just for setting new payments, but if its needed just to view balances/statements, its way over the top. I won't be carrying this bit of tat about as my wallet is full of enough cr*p already.

Recently opened a Halifax current account, primarily to get better savings rates, but looks as though this could be the final straw to switch everything over.

spenderdave

People on here keep calling it a 'card reader', it is NOT. It is a self contained unit with nowhere to plug a card in... I appreciate for some it is an inconvenience if you want to check your accounts when out and away. But logging into internet banking on computers other than your own like wi-fi hotspots, libraries and company computers is in itself a big security risk.