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

pmduk

notafan wrote: »

If you bank with different places its different bits of kit, what happens if you forget it, what happens when it breaks etc.

All of the card readers so far are inter-changeable between banks*. If you forget it or it breaks you wait for a replacement or use phone banking, just as you always have if your card is lost or breaks.

*NB I can't speak for the proposed HSBC kit.

SimbaSimon

baby_frogmella wrote: »

You are mixing up credit card fraud with banking fraud. My post was about the overzealous practices used by some banks when using their internet banking. For example when i was with Nationwide i was forced (yes really) to use my card reader everytime i wanted to make an overpayment from my flexaccount to my NW mortgage through their internet banking! Has anyone ever heard of fraudsters paying off their victims mortgage?:rotfl: At least with Nationwide, you can still log on and see your account balance with your memorable data; HSBC will eventually require all their customers to use their secure key to even check their balance online....and First Direct will be following them soon (which is what they told me last week) hence why i didn't join them.

Very odd. I have a Nationwide flexaccount and mortgage. Both accounts appear when you login and you can login either with the card reader or using the data. I can transfer payments to my mortgage account using either login. The only difference if I DON'T use the card reader to login I cannot setup new payments or transfer payments to bank accounts listed without the card reader. As its an internal payment to another account this isn't a problem without the card reader. I can only think your doing something wrong.

noh

pmduk wrote: »

All of the card readers so far are inter-changeable between banks*. If you forget it or it breaks you wait for a replacement or use phone banking, just as you always have if your card is lost or breaks.

*NB I can't speak for the proposed HSBC kit.

Yes. I have 4 card readers from different banks all are interchangeable and I don't have a problem with taking one away with me if necessary.
If one breaks I have 3 others to use.

Baldur

pmduk wrote: »

*NB I can't speak for the proposed HSBC kit.

The HSBC Secure Key isn't a card reader, it's a standalone piece of kit.

Lifes_Grand_Plan

I agree the card readers are a ball-ache.. the whole point of internet banking is you can do it anywhere (with an internet connection)... well these card readers mean you now can't do it anywhere it you don't have your card reader with you... I would need a card reader for home, work (3 different locations), my parents house, my wife's parents house... its crazy...

Halifax don't use card readers - if you are setting up a new transfer they ring you with a code. This is much better than a card reader IMHO, I always have my mobile with me.

musicmaker29

baby_frogmella wrote: »

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

yes I read it and it doesn't add up to me.

'Anyone can suffer from card fraud' but 'I don't want to use a card reader' - I guess I just don't see the big deal - just move banks or accept it. if it becomes an industry-wide way for banks to protect their customers and THEMSELVES against fraud, then there is nothing you can do.

What about banks protecting themselves then?

p00hsticks

baby_frogmella wrote: »

The fuss is the card readers are not very portable

The way some people are talking anyone would think that they are the size and weight of a house brick !

I can't speak for all banks but the ones I have (Nationwide, Nat West) are pretty portable - they may not fit into a wallet but they're certainly no bulkier that a packet of tissues or a mobile phone and easily fit into a pocket or handbag.... and as the readers are interchangeable you should only need one to cover all accounts.

m1974m

SimbaK2K wrote: »

Very odd. I have a Nationwide flexaccount and mortgage. Both accounts appear when you login and you can login either with the card reader or using the data. I can transfer payments to my mortgage account using either login. The only difference if I DON'T use the card reader to login I cannot setup new payments or transfer payments to bank accounts listed without the card reader. As its an internal payment to another account this isn't a problem without the card reader. I can only think your doing something wrong.

I also have various nationwide accounts and conduct internal transfers online WITHOUT a card reader i.e. only using the personal data. In fact I travel a lot and log in/use my online barclaycard, nationwide, metro, citibank, and YBS accounts without ever touching any card readers.

MsHoarder

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.

Of course, using work/public computers to make transactions isn't a good idea anyway (keyloggers, remote monitoring). If you carry a laptop and 3G card, then you may as well slip a spare card reader in your laptop bag.

jonnysniper86

HSBC Card reader looks like it has been deliberatly designed to be smaller than a credit card so as to avoid the niggling complaints of "oh nooooooz it wont fit in my wallet!"

I am amazed that people think they can have super advance security on their machines and not get breached. The only way to guarantee you will never get a virus or threat on your machine is to never turn the thing on. (Just like the only way to avoid crashing a car is to never get in a car!)

I for one welcome added security for online use, regardless of any possible 'inconvenience'. I would much rather that then the inconvenience of fraud on my a/c...or even worse, my bank deciding to charge people to cover its fraudulent losses.

Extra Security? Yes please. :T