Tesco savings linked with mobiles RANT!!

Jim431

psychic_teabag wrote: »

I seem to recall a lot of people complaining bitterly about the card reader security !...

Can't say I liked it but it did work for me. Only had to use it for setting up payments (I think) so it wasn't for all transactions.

Coventry BS chose to go for a code table instead. Which is a grid with columns and rows. The grid is filled with numbers and they give you the column and row ID's and you return the numbers. Another cheaper way of doing it and probably just as hated.

psychic_teabag wrote: »

It strikes me that mobile phones are easily lost / stolen, so don't seem to be an entirely reliable basis for security...

True... and most people don't lock em with passwords. Something else the banks will blame you for when it goes wrong.

alanq

Jim431 wrote: »

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

That's very funny...

I wouldn't count on that... I reckon they would just freeze your account and wait till you complain.

Possibly but
NatWest has an automated systems to send alert messages when changes are made to an account.
Nationwide uses automated phone calls to authorise suspect debit card transactions. Not much use if they only have your home phone number.
FirstDirect send text alerts if withdrawal transactions above a specified amount are made.

I am sure that there are many other examples where mobile phones increase security.

Jim431

alanq wrote: »

Possibly but
NatWest has an automated systems to send alert messages when changes are made to an account.
Nationwide uses automated phone calls to authorise suspect debit card transactions. Not much use if they only have your home phone number.
FirstDirect send text alerts if withdrawal transactions above a specified amount are made.

I am sure that there are many other examples where mobile phones increase security.

Sorry... but you are right... that is how it should work.

I just thought it was funny to expect them to do anything to help with a problem as you maybe haven't experienced the Tesco Bank customer service.

It is still etched on my mind from several months ago when no-one seemed able to get into their accounts and the phones were jammed for several weeks.

oldvicar

ChiefGrasscutter wrote: »

.......until that is you are the victim of fraud.
Then you might find it rather to your advantage that the savings/bank/credit card Co does have your mobile number, as they will actually be able to contact you quicker to possibly stop an unauthorised transaction.

Sorry that wouldn't work for me. I keep my mobile phone where it belongs - switched off in the glovebox. My phone is a lot smaller and neater than these new-fangled smart phones, but I still wouldn't want to have to carry it round with me all day long.

Because I am rarely likely to have my mobile with me I am very careful NOT to give the number to anyone (such as a bank) who might expect to rely on it.

This approach worked very well for a friend recently. Nationwide detected credit card fraud on their account. Instead of a text to a mobile which was switched off, their system sent a 'text' to the home (landline) phone number so it was received instantly - texts sent to landlines get read out by a 'mechanical voice'.

pfpf

how are people closing their accounts?

whats the procedure/timeframe?

i am sure i have a £0 balance but will have some interest due, how do they pay that?

thank you.

Jim431

pfpf wrote: »

how are people closing their accounts?

whats the procedure/timeframe?

i am sure i have a £0 balance but will have some interest due, how do they pay that?

thank you.

Just ring Customer service and tell em. They should be able to pay into your linked account by Faster Payment within a couple of hours.

The interest certificate for tax should be posted at the end of the financial year. May need to chase that tho.