HSBC Secure Key - Useless

Gromitt

dave76 wrote: »

the thing is I dont really care about anybody logging in to my account and seeing how little money I have so long as they cannot take any money out.

Some banks do provide 'read only' access if you don't use the provided card reader, but I don't think HSBC offer this functionality? And those that do support read-only access, you have log out and back in again via the other method to actually make changes! Stupid.

I wouldn't mind like you say: Login in via standard username and password (perhaps asking for various characters from a secondary password as well, like Halifax). But, the first payment you make in that session, regardless of whether it is a new payment or to an existing payee, requires authorisation. If you make multiple payments in one session, then only the first gets checked (no point to keep checking who you are when they have already confirmed that fact).

So that would allow you check balances, statements, DDs, SOs, etc, but not make modifications without confirming your identity. This 'confirming identity' part could be as simple as how Google works: Send a 6-digit number as a text message to your phone and ask you to type it in. If you don't have a mobile, then an automated landline call, or, last resort - card reader. Typing a number from a device you are used to using is far better usability in my view then forcing you to use a device that was made as cheap as possible for the banks to distribute in bulk.

jjlandlord

Reading these threads on the HSBC security key I must say I now agree that it was not necessary for the bank to introduce such devices: Everyone is expert in (online) security and all have extremely secure systems and practices. Nothing could go wrong.
Online fraud is thus surely a conspiracy organised by secure tokens providers!

baby_frogmella

According to my local branch manager today, HSBC will be releasing an iphone app for their personal banking "within the next fortnight". He said you will not need the stupid secure key to login and view your balances as is the case currently. Hallelujah!

lionelator

HSBC in partnership with Monitise offer an app called mobile money for all major platforms, iPhone, Android and BlackBerry, and this allows you to log in through your phone and check balances on your accounts and recent transactions, without the secure key.
http://www.hsbc.co.uk/1/2/ways-to-bank/mobile
Nice to keep track of things from your mobile, but I do wish we could just check our balance on a laptop or desktop as well without the Secure Key, or that they'd tie in with Yubico.

baby_frogmella

lionelator wrote: »

HSBC in partnership with Monitise offer an app called mobile money for all major platforms, iPhone, Android and BlackBerry, and this allows you to log in through your phone and check balances on your accounts and recent transactions, without the secure key.
http://www.hsbc.co.uk/1/2/ways-to-bank/mobile
Nice to keep track of things from your mobile, but I do wish we could just check our balance on a laptop or desktop as well without the Secure Key, or that they'd tie in with Yubico.

And would you be willing to pay for mobile money? I wouldn't!

Once downloaded and installed is Mobile Money mobile banking free to use?
Mobile Money mobile banking is currently free of charge to all customers until 31st December 2011.

http://hsbc.monilink.co.uk/hsbc/info/help/faq

lionelator

baby_frogmella wrote: »

And would you be willing to pay for mobile money? I wouldn't!


http://hsbc.monilink.co.uk/hsbc/info/help/faq

Im using it. Im not paying for it. Why don't you try it?

BritRael

baby_frogmella wrote: »

...Lets face it you're fooked if your secure key malfunctions and you happen to be abroad. There's far far better (ie user friendly) methods to safeguard accounts such as Halifax's or N&P method; they do a automated callback to the user's number verifying the user.

I am abroad, and not all banks (I haven't found any yet) will allow overseas numbers...

To get around that, I have to arrange with my missus for a suitable time when she can get to an internet computer, I get a 'call back' to her number, and she quickly e-mails the security number to me (the number is only valid for a few minutes).

baby_frogmella

BritRael wrote: »

I am abroad, and not all banks (I haven't found any yet) will allow overseas numbers...

Halifax and N&P allow you to give them your overseas contact numbers...having had automated callbacks (after setting up new payess) from both in Dubai, i'm sure other banks could also implement something similar. Here you go:



See its hardly rocket science

Mikhail

soothyerboots wrote: »

People like you, with that attitude, quite frankly deserve to suffer fraud.

I guess people like 'him' are called intellectuals; I guess you are quite envy and I can see why.

Mikhail

Gromitt wrote: »

Do you check for any unauthorised programs or scripts running before you open your banks internet sign on page? Do you sniff your internet traffic to ensure your connection is going to where you think its going? Most people are not capable of doing this, so the banks have come up with a way that, even if someone is watching you type in all your details (without your knowledge of course), then it doesn't matter. They can't do anything with that information. Get rid of the key and it becomes possible to impersonate you. With the Halifax and the like, a malicious user may not be able to create a new payee, but they could make your life difficult by wrecking your finances which could take months to repair.

This is how 'security conscious' you need to be, it's not just about keeping your card and PIN safe.

I have a question, how did we survive for so long then? Poor Americans neither have chip & pin nor card readers and it seems that they are doing quite well.