Card reader/secure key security...why the collective punishment by banks?

dzug1

baby_frogmella wrote: »

First of all, let me make clear i'm perfectly aware that anyone can suffer bank account fraud no matter how careful they are. But i'm sure many people will agree that those who take measures such as

1) Not clicking on dodgy email links
2) Having antivirus/firewall software installed on their PC
3) Not giving their debit card PIN to every family member
4) Not leaving their cheque book/debit card on the car dashboard
etc

So how does the bank know who these people are?

catfish50

dunstonh wrote: »

I am not sure I would class it as a punishment but it is certainly far more inconvenient. I have the LloydsTSB card reader and it really puts me off using online banking.

It is not big issue but you need to have your card reader with you (which you are unlikely to if you are out and about). You need it to log in. You need it to send a payment.

I have a LTSB current account but don't have a card reader. It's been open a long time, maybe that's why. An account with another bank does have a card reader, but not for logging in. That would be a hassle.

dzug1

rb10 wrote: »

Santander will send a code by text message whenever you set up or change a payment. Most of the population will always have their mobile on them, so it's easy and convenient.

.

Well I'm about to close a Santander account because internet banking with them is impossible because of this 'feature'. Even to logon to view the account I have to start the process of registering my non-existent mobile and then decline its T&Cs.

I do have to say that with Nationwide using the card reader (apart from finding it in the first place....) is easier than the still possible logon with credentials.

dzug1

catfish50 wrote: »

I have a LTSB current account but don't have a card reader. It's been open a long time, maybe that's why. An account with another bank does have a card reader, but not for logging in. That would be a hassle.

I think it's universal for Lloyds business accounts - possibly not yet for personal ones

baby_frogmella

dzug1 wrote: »

So how does the bank know who these people are?

People who don't lose their debit card multiple times a year?

People who have never ever suffered fraud on their account?

The point of this post is that due to the lack of secure practices by some customers, everyone is forced to use card readers. Perhaps 'punishment' was too strong a word to use, but its certainly highly inconvenient to carry around a card reader wherever you go. Of course, if you're sat in front of your home pc 24 hours a day, 365 days a year then the card reader won't be much of an issue.

baby_frogmella

coolesticeking wrote: »

You can always contact Telephone Banking and make these payments if you do not have a card reader with you.

Not with the Nationwide! Ever tried making an overseas payment over the phone? Nationwide tell you to get lost.

catfish50

baby_frogmella wrote: »

Not with the Nationwide! Ever tried making an overseas payment over the phone? Nationwide tell you to get lost.

Nationwide are the worst ever for trying their best to keep you from getting hold of your own money.

coolesticeking

baby_frogmella wrote: »

Not with the Nationwide! Ever tried making an overseas payment over the phone? Nationwide tell you to get lost.

I don't think Nationwide though are the only ones to which they won't let you make overseas payments via the phone or online.

To what I remember i've heard of other people at other banks who have to go into branch to make these payments as the systems cannot handle this.

baby_frogmella

coolesticeking wrote: »

I don't think Nationwide though are the only ones to which they won't let you make overseas payments via the phone or online.

To what I remember i've heard of other people at other banks who have to go into branch to make these payments as the systems cannot handle this.

You can make overseas payments through Nationwide's internet banking so their telephone banking is not the same as their internet banking. Ditto HSBC.

ViolaLass

noodle wrote: »

From a personal point of view, I don't think readers are necessary to log on to banking and view information, nor to pay beneficiaries that I have previousy set up. I'm happy to use a reader to change any personal details, or create new payees. This means I have a higher risk of someone looking at my statement or paying my own bills than I might otherwise... and I'm happy with that.

Agreed. Why Nationwide requires me to use the card reader every time I want to pay my council tax, for example, is beyond me. I appreciate that it might be making me safer but I fail to see what risk I am really running in the first place.