HSBC secure key

Bloomberg

fwor wrote: »

Yes, but why does every bank need their own specific one? Environmentally it seems so wasteful. I have one for HSBC, and another for Barclays, and another for Nationwide, etc...

I know that every bank wants their brand on everything, but the current situation is just not right. The banks should either be forced to share these facilities, or penalised for wasting natural resources.

The secure key is much more secure than card readers. The device contains a clock which is synced with the HSBC website, every minute or thirty seconds the code changes. I was told a while back that nobody has ever circumvented the secure key, my gut feeling is that one day all banks will use such devices.


As for the wasting of natural resources there are far worse abuses of natural resources occurring. The reason why each bank issues its own card reader is because one bank cannot stop issuing them and then tell customers to obtain card readers from another bank.

Joto_2

From someone who has had their bank account hacked (and they did more than just look at my balance) I say any extra security they can introduce is worth it.

When we spoke to the fraud prevention at HSBC they said they were always chasing their tail and as soon as they had put one thing in place to prevent acccounts being hacked the hackers were onto the next thing. I have to say once HSBC knew about the hacking our money was back within 24hrs, the second time HSBC were obviously monitoring our accounts and phoned to check before a large transfer was allowed (this was fraudulent as well) and yes we do have all the security advised on all our computers.

steve1980

The card readers are easy to code break. They use the same code every x amount of times.

Mikhail

steve1980 wrote: »

The card readers are easy to code break. They use the same code every x amount of times.

Don't tell it to the local paranoiacs, they will become suicidal in their little secure bubbles.

iAMaLONDONER

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...?

http://www.petitionbuzz.com/petitions/hsbc

If you feel stongly enough lool

londonTiger

i wish there was a unified card verification system used by all. i have 4 of these deviced in my desk draw/ its annoying

Gromitt

londonTiger wrote: »

i wish there was a unified card verification system used by all. i have 4 of these deviced in my desk draw/ its annoying

They do, it's called a card reader. Nationwide, Co-Op, Barclays, etc, are all interchangeable. The only one that stands out is HSBC.

Hominu

Gromitt wrote: »

They do, it's called a card reader. Nationwide, Co-Op, Barclays, etc, are all interchangeable. The only one that stands out is HSBC.

Who don't use a card, but a similar but more annoying system which is personalised to you, so you can't even borrow a friends, like you can with every other bank.

HSBC trying to cut costs?

dalesrider

Hominu wrote: »

Who don't use a card, but a similar but more annoying system which is personalised to you, so you can't even borrow a friends, like you can with every other bank.

HSBC trying to cut costs?

No its the others who have been cutting costs.
At least HSBC system works well.

Hominu

Bloomberg wrote: »

The secure key is much more secure than card readers. The device contains a clock which is synced with the HSBC website

Exactly how is it synced with the HSBC website, considering it has no access to the HSBC website? So it must have its own internal clock, so if that fails, you can't login to your bank account? Excellent idea.

dalesrider wrote: »

No its the others who have been cutting costs.
At least HSBC system works well.

Really? In what way? With the other system, I can borrow someone else's card reader (even if they bank with someone else) or even build my own if I wish as all the security is in the card used with the device. I asked HSBC for a spare and they said it wasn't possible. So I have to carry around the only device allowing me into my bank account and if it fails, gets stolen or the battery runs flat I'm screwed. How is that well designed?