Who doesn't have silly pocket calculators?

peachyprice

Amba_Gambla wrote: »

That sounds much better - with HSBC it looks like you're going to need it to even log in.....

I have a co-op one, they started off using it for all transactions not between our own accounts, now it's the first transaction to a new payee only.

pinkdalek

Halifax do not use these card readers, however if you are using internet banking abroad you will find they need to verify you via telephone - ie mobile phone

It is added security due to most internet frauds tend to be done via overseas websites.

[Deleted User]

metro bank and santander also dont need readers

pcombo

Amba_Gambla wrote: »

Ok, so it's finally arrived... HSBC have decided in their 'wisdom' to start issuing those damn pocket calculators to all their customers who want to bank online. I sat back and laughed at all my family as they arrived for their accounts, and vowed the day HSBC issued them I would be changing my account.
But where is safe?
Which banks don't require you to have an extra chunk of plastic to log onto your account?

This thread isn't intended to be about the pros and cons of these annoying pieces of kit, more a thread where those who don't have the time/inclination/luggage space/foresight to use them when they're stuck in China and suddenly need to pay someone back home......

The "silly calulator" Is the difference of you having money in your account to having none. If your account was to ever get hacked.

closed

It's a sensible precaution, the login security is weaker than most banks currently, a keylogger can pick up everything they need to get at your login details, which will cause even more hassle if you are in China at the time.

Banks that don't have additional hoops to jump through will move that way or use some other variation to prevent fraud eventually.

premierfella

peachyprice wrote: »

I have a co-op one, they started off using it for all transactions not between our own accounts, now it's the first transaction to a new payee only.

Thanks - I ditched my Co-op current account because of the every-time card reader requirement and gave them feedback at the time suggesting they should implement the card reader more like NatWest do, which seems to be how it now works. I will now take another look at the Co-Op.

jambosans

pcombo wrote: »

The "silly calulator" Is the difference of you having money in your account to having none. If your account was to ever get hacked.

I'd be interested to know the statistics in relation to levels of fraud with or without PINsentry. Banks, like Lloyds TSB and HBOS, use a drop-down menu system, which prevents key logging, and I've never had any problems.

The below paper (which I was linked to a wee while back) is an interesting read, and highlights some inherent flaws with the system:-
http://www.cl.cam.ac.uk/~sjm217/papers/fc09optimised.pdf

gt94sss2

jambosans wrote: »

The below paper (which I was linked to a wee while back) is an interesting read, and highlights some inherent flaws with the system:-
http://www.cl.cam.ac.uk/~sjm217/papers/fc09optimised.pdf

I think HSBC have previously said they believe the system used by the other banks is insecure - which is why they are using something else..

From memory, I think they also suffer (or did) the lowest losses from online banking (compared to the other big UK banks)

Regards
Sunil

rb10

gt94sss2 wrote: »

I think HSBC have previously said they believe the system used by the other banks is insecure - which is why they are using something else..

From memory, I think they also suffer (or did) the lowest losses from online banking (compared to the other big UK banks)

Regards
Sunil

Hmmm ... two issues there.

First, afaik the banks don't publish their fraud stats, so I'm not sure how anyone would know this.

Secondly, I'm sure that other banks have made the same claim. It's lies, damned lies and statistics really ... you can make them say whatever you like.