HSBC security key

izools

The device HSBC have introduced is significantly smaller than what other banks use.

It can be slid inside a wallet or added to a keyring quite easily.

Can you do that with a card reader? No.

notafan

izools wrote: »

The device HSBC have introduced is significantly smaller than what other banks use.

It can be slid inside a wallet or added to a keyring quite easily.

Can you do that with a card reader? No.

But you who'd want a card reader on a key chain or card reader in your wallet anyway.

The only argument for card readers and the like is that they are more secure - I don't buy into them being the best solution there is to increase security.

By today's standards even though this secure key is smaller then a card reader its the equivalent of carrying a PC around instead of a laptop.

I don't mind extra security - I do mind when its badly executed.

hello2007

I love my secure key its easy to use but I do not carry it around with me. It would be a pain to lose it and not be able to get into my internet banking.

dzug1

infocom wrote: »

Another idea is why have this device as a physical device? Have it online somewhere else, password protected. Have it as a smartphone App for gods sake! HSBC are taking a step backward in having a physical device.

If you can carry a smartphone about I don't see the difficulty in carrying a device of some sort.

And not everyone has a smartphone - or even a mobile at all.

jrawle

Everyone who thinks devices such as these make their bank accounts ultra-secure might like to take a look at this:

http://www.bbc.co.uk/news/technology-13681566

dzug1 wrote: »

If you can carry a smartphone about I don't see the difficulty in carrying a device of some sort.

And not everyone has a smartphone - or even a mobile at all.

If you can carry a smartphone about I don't see the difficulty in carrying an MP3 player. If you can carry a smartphone about I don't see the difficulty in carrying a GPS unit. If you can carry a smartphone about I don't see the difficulty in carrying digital camera. If you can carry a smartphone about I don't see the difficulty in carrying a pager. If you can carry a smartphone about I don't see the difficulty in carrying a separate mobile web device.

Now are people's objections any clearer to you?

An app as an alternative for people who do have smartphones would be better, although there are technical reasons why it wouldn't be as secure.

Customers have to be refunded if they are defrauded. This is primarily a measure for the banks' sake, not the customers'.

ianbell

izools wrote: »

The device HSBC have introduced is significantly smaller than what other banks use.

It can be slid inside a wallet or added to a keyring quite easily.

Can you do that with a card reader? No.

With Barclays, Natwest, Co-op bank etc, I can have multiple card readers. One at home, one at work, one at my parents. Several of my friends also have them. There are now many computers I can use the internet banking service at, as long as I take my card with me (which I would be anyway)

With HSBC it's their way or the highway. Either carry the thing around (it IS bulky), or have only one computer you can use internet banking at.

And to those who say it's to protect my money... No, it protects the bank, since they have to compensate me if I lose out. I don't mind them protecting their interests, but it would be nice if they could do it without destroying the usefulness of Internet Banking.

GraceCourt

infocom wrote: »

Something I also forgot to mention... I use Yodlee which is a service that connects to my banks and pulls in all the transactions into one place so I can have an overview of all my different bank accounts in one place. This is something that is sooo lacking in the industry, the facility to allow 3rd parties to access your information like Finance Software.

I respect your freedom to choose to use this service, but it's utter madness to do so in my view. What is the point in the banks (who seem to be happy to accept a certain level of losses as long as they can blame customers for it) being forced to accept responsibility for toughening up their security, when any customer then hands over all of the security information needed to access their funds to a third party?

I don't use such a service and wouldn't dream of doing so - how many would, if such use automatically removed all legal recourse by that customer against each bank if their funds were to be stolen by an unknown third party? Yet many do, even though that is indeed the case - read your Bank's online terms and conditions about what happens if you disclose the access credentials to any third party!

In short, if you use such a service, legally speaking you are not entitled to a single penny of any money that is subsequently stolen from a compromised account.

Mr_K

GraceCourt wrote: »

I respect your freedom to choose to use this service, but it's utter madness to do so in my view. What is the point in the banks (who seem to be happy to accept a certain level of losses as long as they can blame customers for it) being forced to accept responsibility for toughening up their security, when any customer then hands over all of the security information needed to access their funds to a third party?

I don't use such a service and wouldn't dream of doing so - how many would, if such use automatically removed all legal recourse by that customer against each bank if their funds were to be stolen by an unknown third party? Yet many do, even though that is indeed the case - read your Bank's online terms and conditions about what happens if you disclose the access credentials to any third party!

In short, if you use such a service, legally speaking you are not entitled to a single penny of any money that is subsequently stolen from a compromised account.

Don't think you understand how account aggregation software works. You don't hand over your passwords etc. to a third party, they are kept stored and encrypted on your own pc. Don't think HSBC could complain about it as they offer the same service themselves via First Direct. In Egg's version they seem to have accounted for the HSBC secure key, however you'll have to tap in the secure number yourself.

Unfortunately my secure key has arrived, but it's gathering dust unused.......

kingwahwah

Got my letter today. I was gobsmacked coming from a IT background. I believe these are so old school. Used one in US Corp in 2000 for PC login until they scrapped it. I seem to remember so many going out of sync and other problems such as leaving it at home.

Didn't realise other banks were already doing it until I read here as I was considering moving.


The helpline better be free and correctly personed.

jjlandlord

kingwahwah wrote: »

Got my letter today. I was gobsmacked coming from a IT background. I believe these are so old school. Used one in US Corp in 2000 for PC login until they scrapped it. I seem to remember so many going out of sync and other problems such as leaving it at home.

Well, many companies do use them and they work just fine.

Got mine a couple of weeks back, it works well and it certainly is no "old school".