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

StumpyPumpy

baby_frogmella wrote: »

You seem to have a problem reading what i said in the very first post, so i'll repeat it: anyone can be a victim of bank account fraud, but those who take the necessary steps are far, far less likely to suffer fraud as a result. IMHO Just like credit card companies mark your experian report, banks should do the same with cases of fraud reported. Perhaps this would be the kick up the arris some people need to take proper security steps.

We will have to agree that anyone can be a victim of fraud, but disagree on what "the necessary steps" are to avoid it. My real world examples of how you, personally, are making yourself more vulnerable to fraud are obviously falling on deaf ears. I bow to your vastly superior experience in these matters, I have never been a victim of fraud, but I have earned a tidy sum out of picking up the pieces afterward, it seems that is not enough for you. It is after all, your money to do with as you wish, I hope you get to spend it.

Enjoy your new account, of course, now YBS have taken N&P over, you might need to get used to them phoning you up all the time to validate online transactions, (Which is the system YBS currently implement) but I'm sure you will be happy with that, easier to remember to have a phone with you at all times than a card reader.

SP

baby_frogmella

StumpyPumpy wrote: »

Enjoy your new account, of course, now YBS have taken N&P over, you might need to get used to them phoning you up all the time to validate online transactions, (Which is the system YBS currently implement) but I'm sure you will be happy with that, easier to remember to have a phone with you at all times than a card reader.

SP

Since you can predict the future perhaps you'd like to tell me this weeks lottery numbers? FYI N&P told me that when the merger with YBS goes ahead, n&p current accounts will continue to be operated by n&p (since the n&p brand will be retained) but customers *may* be able to use YBS to make transactions but they will only know for sure after the merger.

notafan

pmduk wrote: »

Perhaps those people so opposed to using 2 step security should offer to bear the liability of fraud upon their accounts?

Its not about being opposed to extra security.

In fact bring on extra security...

just don't do it by some cheap and nasty bit of technology that were expected to carry about. If you bank with different places its different bits of kit, what happens if you forget it, what happens when it breaks etc. I don't think anyone would really say they are opposed to being more secure i just think most people are probably thinking that there has to be a better way then this.

Olipro

StumpyPumpy wrote: »

Normally, I have a bar in place at my bank that will stop any foreign ATMs dispensing cash, but when I travel abroad, I notify my bank and they loosen the restriction, so I can use my card in a Chinese bar if I wish.

To be honest that's a bit of overkill; if your card is cloned and your PIN taken, it will only be the magstripe; these generally set the alarm ringing automatically, it shouldn't require any request of tighter blocks at the bank's end.

and of course, when you do go on holiday, just use your card at the airport of both countries - assuming they're not using "dumb" anti-fraud systems that will generally get you over the card block hump - especially if the country you go to has chip readers.

musicmaker29

baby_frogmella wrote: »

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.

The reason they do this is because criminals try and steal money. I find it bizarre that you think that you are above becoming a victim of crime - you aren't.

Also, the reader is there to protect the bank as well - if a hacker got in and downloaded 5,000 passwords/usernames, the card readers would be another problem for them to overcome.

baby_frogmella

musicmaker29 wrote: »

The reason they do this is because criminals try and steal money. I find it bizarre that you think that you are above becoming a victim of crime - you aren't.

Also, the reader is there to protect the bank as well - if a hacker got in and downloaded 5,000 passwords/usernames, the card readers would be another problem for them to overcome.

Sigh:mad: Did you read what i wrote? Do you want me to spell it for you? Jeez.....

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.

meer53

baby_frogmella wrote: »

Norwich & Peterborough Building society's internet banking is very good (at least the new system). Unlike nationwide and HSBC, you don't get bombarded with ads all over the screen. No stupid card readers, secure keys etc to use, just a 7 digit customer ref, a 10-12 digit password and your DoB. I like the additional security where you have to enter your password whenever doing money transfers.

With their gold account, you also get free overseas debit card transactions, free sentinel gold card protection and top class customer support over the phone..ala First Direct

To be honest i can't see what all the fuss is about card readers, if your bank says you need one, then you use one or go bank somewhere else with a lower level of security. You take your choice.

I'm sure you can all remember how you used to have to carry a cheque book and card around, along with other forms of ID before debit cards came along ? It's progress, and it doesn't matter how security savvy you are on the internet or when you're out shopping, you will never stop fraud, the fraudsters are always one step ahead. As far as i'm concerned a card reader just makes it a tiny bit safer, not a lot, but a tiny bit ! It's not the size of a housebrick !

baby_frogmella

meer53 wrote: »

To be honest i can't see what all the fuss is about card readers, if your bank says you need one, then you use one or go bank somewhere else with a lower level of security. You take your choice.

I'm sure you can all remember how you used to have to carry a cheque book and card around, along with other forms of ID before debit cards came along ? It's progress, and it doesn't matter how security savvy you are on the internet or when you're out shopping, you will never stop fraud, the fraudsters are always one step ahead. As far as i'm concerned a card reader just makes it a tiny bit safer, not a lot, but a tiny bit ! It's not the size of a housebrick !

The fuss is the card readers are not very portable and don't fit into your wallet and when you go abroad, you can easily forget them meaning you cannot access your online banking and/or make transactions whilst away. You are basically f*&ed without them. You make a list of things to pack when going away: money, passport, keys, tickets, credit cards.... a card reader is the last thing on your mind.

I don't have a problem with additional security (such as 'verified by visa') but IMHO the banks should think about introducing cards such as these...get rid of the stupid card readers once and for all:

rb10

meer53 wrote: »

To be honest i can't see what all the fuss is about card readers, if your bank says you need one, then you use one or go bank somewhere else with a lower level of security. You take your choice.

No ... a different way of providing security.

Just because a bank doesn't use card readers doesn't necessarily mean it has a lower level of security.

meer53

The HSBC security device is small enough to fit in a wallet, about the same size as a credit card.