HSBC Secure Key

S-man

Lith wrote: »

No source man, its just based on 'opinion' but if you think about it, it will most likely happen to all KNOWN UK BANKS.

TSB - Have them now for there business accounts
HSBC - Have them for personal and business
BARCLAYS - Have the card reader thing

The other banks will no doubt follow, because online banking is very serious, and banks are getting more insecure about security this is why they bring out these card readers & secure keys etc.

Just the uk is far behind on this... Banks in USA/China/Hong Kong/Japan etc all use secure keys and its compulsory.

It is not compulsory in the USA. I have two different bank accounts there and neither require a key card. HSBC on the US side does not even require this but they do have a three point login. One of the other banks actually allows me to deposit checks by scanning them with my mobile or ipad.

All in all, being a banking system implementation architect for several years, this is a really bad idea. HSBC UK is way behind on basic features of internet banking and they go and implement something that takes ten minutes to perform a basic transaction. Yet, I still cannot download an historical pdf statement of my account.

If you think about it, they will lose out in the long term because retail banking relies on the ability to process transactions at a very fast rate. This slows things down tremendously. I plan on moving my money to a different bank that will allow some things that HSBC UK does not. Like mobile banking from my device...hello - NatWest.

A totally secure system does not do anything and this is what this is moving towards...

Lith

S-man wrote: »

It is not compulsory in the USA. I have two different bank accounts there and neither require a key card. HSBC on the US side does not even require this but they do have a three point login. One of the other banks actually allows me to deposit checks by scanning them with my mobile or ipad.

All in all, being a banking system implementation architect for several years, this is a really bad idea. HSBC UK is way behind on basic features of internet banking and they go and implement something that takes ten minutes to perform a basic transaction. Yet, I still cannot download an historical pdf statement of my account.

If you think about it, they will lose out in the long term because retail banking relies on the ability to process transactions at a very fast rate. This slows things down tremendously. I plan on moving my money to a different bank that will allow some things that HSBC UK does not. Like mobile banking from my device...hello - NatWest.

A totally secure system does not do anything and this is what this is moving towards...

Well i know for a fact in Japan/China/HK its compulsory, but i have a few friends who bank in USA and they have some pen drive device.

(so not all banks use 3rd party hardware then?) - maybe it depends on the bank tho? maybe your 'usa bank' doesn't use secure keys or something.

smartiedriver_2

HSBC has an i-phone app, currently for business clients only, in development for personal.

smartiedriver_2

It also offers mobile (text) banking, again for business customers.

Bloomberg

S-man wrote: »

It is not compulsory in the USA. I have two different bank accounts there and neither require a key card. HSBC on the US side does not even require this but they do have a three point login. One of the other banks actually allows me to deposit checks by scanning them with my mobile or ipad.

All in all, being a banking system implementation architect for several years, this is a really bad idea. HSBC UK is way behind on basic features of internet banking and they go and implement something that takes ten minutes to perform a basic transaction. Yet, I still cannot download an historical pdf statement of my account.

If you think about it, they will lose out in the long term because retail banking relies on the ability to process transactions at a very fast rate. This slows things down tremendously. I plan on moving my money to a different bank that will allow some things that HSBC UK does not. Like mobile banking from my device...hello - NatWest.

A totally secure system does not do anything and this is what this is moving towards...

I too am a little bit surprised that HSBC UK is so far back in the dark ages in certain ways. On the whole they are a good bank but they do let themselves down in the ways which you mention. Apparently Barclays have a good mobile banking app.

As much as I like HSBC little things like having to fill out paying in slips in branch annoy me, I was doing this in the eighties. In their defence the secure key does seem to be very secure, it would be interesting to see how much it reduces on line fraud.

ReddDraggon_2

I've had my Secure Key for 6 weeks now, and the battery is dead. I'm really not happy, I rang up to complain/get a new Secure Key.

Apparently it's an upgrade to the security - well if no one including the account owner can get in it's definitely secure, but totally useless.

adindas

I think the system like Lloyds TSB or Santander could work better to send the security code to our mobile.

They serve the same purpose but we do not need to carry, five or more different gadgets. Imagine people are banking with ten banks in the UK, are they going to carry ten different gadgets ??

It is really annoying ...

Turtle wrote: »

I'm sure all banks in the UK will introduce this kind of thing at some point, but obviously time scales will vary. You can't bank online in Japan without using some kind of device now, all the banks do it (or so I've been told, I'll be happy for anyone to put me right on this).

I don't bank with HSBC but I have seen one of the devices and it looks quite portable, although I agree I'd hardly be thinking to remember to pack it when I go on holiday!

mariechrisbulll

mekhas wrote: »

Leaving HSBC after 10 years because of the Secure Key. Stupid idea.
BTW, Bank Control for Android supports HSBC accounts, Lloyds and Santander too.

I work for said bank 'HSBC' and I am shocked at all the above comments. This secure key is a NEW idea of course we may have a few issues. If you want to move to another bank then I am sorry you feel like this. However give it a chance, we have done the secure key to make it more secure! NOBODY can hack into your online banking now, you would be surprised the amount of accounts which were hacked into. I dont want any abuse back , I love working for hsbc I just think you should give us a chance.

:T

Twiggy_34

ReddDraggon wrote: »

I've had my Secure Key for 6 weeks now, and the battery is dead. I'm really not happy, I rang up to complain/get a new Secure Key.

Apparently it's an upgrade to the security - well if no one including the account owner can get in it's definitely secure, but totally useless.

Have been using mine a few weeks now & find it to be just a minor inconvenience. I'm lucky that my purse has a coin type slot which I don't use & is just the right size to slot the secure key into so that I always have it on me.

I'm interested to hear you've already experienced a dead battery though as this was my main concern. I check my account every 2-3 days depending on my spending activity, so that I can keep an eye on things and juggle finances if needed. I was pretty surprised that the device isn't assisted by solar power, or had it made so we can change batteries.

mariechrisbulll

mekhas wrote: »

This is exactly where the problem is. DO NOT tell me what is better for me (e.g. paranoid security). I DO NOT want to carry any device with me on holiday or in the train just to check my balances or to make a regular payment. This is about a balance between convenient access (e.g. no security at all) and security (e.g. no access at all). I prefer a different balance but HSBC did not ask me or does not care what I LIKE, so I've left to NatWest along with all my saving and business accounts and accounts of all members of my family. :beer:

I am sorry you feel this way