HSBC secure key

TheEffect

I can understand why HSBC have introduced such a device, however what is the harm in them allowing people to login without it, but require it when making any changes, payments etc...

In the very unlikely event someone gets into my online banking, the worst they could do is view my bank balance.

Am I missing something...?

whitewing

Perhaps they feel it would be easier for someone to con them into making changes over the phone if they could view the account details.

fiesta04

Am I missing something...?[/QUOTE]


Yes

fiesta04

To be honest it is so quick and easy to use, why not use it!

Mikhail

Do you need the key for the phone banking?

Bloomberg

whitewing wrote: »

Perhaps they feel it would be easier for someone to con them into making changes over the phone if they could view the account details.

You are spot on, the rationale behind using the secure to log in is that if someone else has access to your account information then this could compromise the security of the account. A lot of people on this forum have moaned about the secure key but they need to think about how it enhances security. I have been told that to date nobody has ever circumvented the secure key.

Given the security advantages which it offers I think that it is only a matter of time until all banks implement a similar device.

loulou41

I have got to use card reader, grid card etc but I hate using the HSBC key, I do not think it is user friendly like NW card reader. I have got long nails and have to be so careful when I input the pin number. I did cut one finger nail so short and instead of making it better to key in digit by pressing one digit, it recorded two digits. I guess my fingers are not so nimble and am a bit clumsy. I was thinking of asking for the bigger one, but how big is that one? Thanks

chkurz

TheEffect wrote: »

I can understand why HSBC have introduced such a device, however what is the harm in them allowing people to login without it, but require it when making any changes, payments etc...

In the very unlikely event someone gets into my online banking, the worst they could do is view my bank balance.

Am I missing something...?

every other bank managed to introduce security that only bites hard when you're trying to transfer to a new payee or something. Barclays even took a step back and now lets you log in without their device. The really bad thing about HSBC's thing is that it has to be a specific device you use - that means you can't even keep one at work and another one at home. I'm sorry, but I have enough stuff to carry around, and hsbc is not my only bank - why should i carry their thing (and probably lose it). all this is going to do is make people log in to their accounts much less often and hence not spot the very fraud they are pretending to be so concerned about!

McKneff

The clue is in the word 'secure'

chkurz

fiesta04 wrote: »

To be honest it is so quick and easy to use, why not use it!

because you have to take the thing with you wherever you want to log in from. All other banks are trying to make it easier to use their services through mobile apps etc and then here comes HSBC making it so unnecessarily difficult to access my own money. I'd turn the question around: It's their privilege to hold MY money - why SHOULD I have to use the device?

Froglet

chkurz wrote: »

because you have to take the thing with you wherever you want to log in from. All other banks are trying to make it easier to use their services through mobile apps etc and then here comes HSBC making it so unnecessarily difficult to access my own money. I'd turn the question around: It's their privilege to hold MY money - why SHOULD I have to use the device?

Because they are not just protecting you from fraud,they are protecting themselves from having to pay out large sums of money if your account was compromised.

Using the device seems a small price to pay compared to the financial loss you could incur,and the inconvenience of having to change bank accounts,or cancel all direct debits,etc .

It's a sign of the times that we have to be ever more vigilant about online fraud and I for one am glad that i am protected by this measure.