Does HSBC use card reader thingies?

Eliza_2

We're thinking of changing our business account to HSBC but as we make lots of little payments to customers I really don't want to be using one of those card readers each time - the payments are usually one offs and rarely do we have a need to keep customer details. It will take me ages to do if I have to use a card reader.

My personal account is with First Direct who don't use them thank goodness, but can't seem to find out if it's the same with HSBC?

Thanks for any help.

IJP20

HSBC has a secure key. It doesn't read a card but you enter a pin number and it gives you a code back in return to type into the web site.

The key is unique to you and is connected to your specific internet banking profile.

It's used for logging on and for signing some transactions, especially new payees, in my experience.

The above applies to personal banking, I think the business banking key might be a bit different.

MoneySaverLog

I don't like it, it's actually worse than those card readers in my opinion.

Eliza_2

Thanks for your answers, - as we pay so many new people each week, this is going to be really hard then. Sounds the same sort of idea as the card reader. Oh dear! Though could be slightly better than the reader as at least you can use it whether working from home or wherever, I suppose otherwise all of us would need readers to use at home, the office or wherever else we work at the moment.

Again- oh dear!

rb10

The secure key is for personal accounts only at HSBC.

However, there's a similar gadget used for business banking - you need to use it to generate a six-digit code every time you log on.

I personally find it much easier to use than a card reader, as you don't need a PIN or card. Mine lives on my keyring, so I've always got it on me, and it doesn't get in the way.

You can see a picture of the device here:
https://www.business.hsbc.co.uk/1/2/business-banking/business-internet-and-telephone-banking/business-internet-banking/security

They are unique to an individual - so you wouldn't be able to use someone else's device.

Eliza_2

Thank you for the link. Presumably they can issue a number of these per account so we can all use it from wherever we are? There are 5 of us and two business bank accounts. We all login to our current bank accounts from home, work, other premises, the car and so on. Often using a range of different computers. I also can't tell if it's just to login to the account or also to be used every time we pay someone new.

I've read the faq and it doesn't tell me this .

Are there any business accounts that don't use such gizmos? We need to add it to the list of criteria when researching a new account.

Thanks again.

GlamGirlie

The HSBC business banking fob is a random number generator that you use to log in. It can be attached to keyrings etc and in my opinion is quite small an unobtrusive.

If you have several accounts under the same business name, eg 123 Limited, then you need one fob to access them all, and you can have additional fobs for different users.

If you operate different businesses, eg 123 Limited, 456 Limited and 789 LLP, then you would need one fob per user for each individual business, because each business is a separate legal entity.

I think you would be hard pushed to find a bank now that doesn't use either this or a similiar method.

yoloyolo

my secure key shows me numbers and letters when i turn it on it has never done this before any 1 no what it is or how to fix it

gt94sss2

yoloyolo wrote: »

my secure key shows me numbers and letters when i turn it on it has never done this before any 1 no what it is or how to fix it

Hsve a look here for the meaning of the text.

Regards
Sunil

Anselm

yoloyolo wrote: »

my secure key shows me numbers and letters when i turn it on it has never done this before any 1 no what it is or how to fix it

Is it a random string of letters and numbers, and when you press something a lot of AAAAAAAAA's pop up? If so, you need to order a replacement from a branch because it's goosed.