First Direct & Card Readers

TheEffect

gwapenut wrote: »

Whether lots of people claim to have been hacked or not, it is a fact that while most other banks request SMS codes, card readers, etc for unfamiliar transactions. First Direct rely on very primitive password methods with no further verification after that when setting up a new payee (unless this has changed recently). They have less barriers in place, on the front end systems at least, for unathorised activity.

In the very unlikely event someone hacks into your First Direct internet banking and takes all your money, you're not responsible and the money lost is not yours.

Therefore, secure keys, card readers etc are all to protect the bank, not you as a customer.

gwapenut

Not according to their terms and conditions which state, besides that you must have uptodate antivirus and antispyware software, firewall and security patches, (which is possible to meet), an additional clause
"any software installed on your equipment is kept virus free"
which in these days of even legitimate websites downloading viruses onto your computer without you even needing to download a file, is impossible to guarantee.

Whether that makes it an unfair term or not, is open to debate. But the T&Cs say nothing about First Direct taking the responsibility asnd reimbursing you.

baby_frogmella

My initial reaction was "bye bye FD and hello again N&P" but on further reflection FD's implementation isn't too bad so will probably stick with them. I will choose not to have any secure key on my FD current account since you will still be able to to view balances and make payments to existing beneficiaries online without using the stupid device. If i need to set up a new beneficiary, i'll just call them...if i'm abroad i'll reverse charge to their 0113 number which they always seem to accept :rotfl:

Escorcio

[Deleted User] wrote:

Adequate Virus protection & secure Wi-Fi networks add to the security without having to remember where I left a silly plastic box.

If you accidentally downloaded a virus and they got hold of your password and cleaned your account out would you expect your money to be reimbursed by the bank? Yes?
Well then expect the banks to do everything they can do to mitigate that risk.

TheEffect

gwapenut wrote: »

Not according to their terms and conditions which state, besides that you must have uptodate antivirus and antispyware software, firewall and security patches, (which is possible to meet), an additional clause
"any software installed on your equipment is kept virus free"
which in these days of even legitimate websites downloading viruses onto your computer without you even needing to download a file, is impossible to guarantee.

Whether that makes it an unfair term or not, is open to debate. But the T&Cs say nothing about First Direct taking the responsibility asnd reimbursing you.

As long as you've taken adequate precautions like a virus scanner and not giving your login details to anyone, you'll be covered.

I don't think first direct will send a team of geeks to your house to comb through your laptop to see if you've been infected with spyware/malware/viruses when looking at eBay.

gwapenut

I think realistically it all depends how much money is at stake ... I agree theoretically things should be fine. Except for not having access to your money for a few weeks while the investigations go on - or months in the case of a large sum of money.

Archi_Bald

OK, I have reviewed my options and that's my decision made then. I really only use FD for the Reg Saver and want to continue to use it for that but I have had a regular income stream come into my FD current account for the last 8 or so years, and a lot of it is left lingering in their zero % current account for several days each month. Which I then eventually distribute to whichever of my other current accounts needs however much whenever, and all has been working fine all along. Particularly, I have been able to change the amounts I pay to my other accounts, and I have been able to set up different payments/payees whenever I needed to.

I will need to be able to continue to do this, and as FD are making it more complicated for me, I will just simply have my regular payments go into a current account that doesn't give me the sort of hassle they are introducing. I can cope, on a regular basis, with Santander's OTP texting, or any of the banks that let you share their 1980's style calculator thingy. By I cannot cope on a regular basis with the HSBC-style keyfob number-generating thingy, or be forced to install an app, to set up a new payee.

Thank you for thinking "long and hard about this", First Direct - - but you haven't found a solution that's as easy as it could be for me, so I am finding my own solution.

Gizmo247

baby_frogmella wrote: »

My initial reaction was "bye bye FD and hello again N&P" but on further reflection FD's implementation isn't too bad so will probably stick with them. I will choose not to have any secure key on my FD current account since you will still be able to to view balances and make payments to existing beneficiaries online without using the stupid device. If i need to set up a new beneficiary, i'll just call them...if i'm abroad i'll reverse charge to their 0113 number which they always seem to accept :rotfl:

Perhaps I don't understand it fully yet, but surely this is the same effect as having a security key but not using it and if you opt for the smart phone version then you have the key with you at all times anyway.

gwapenut

@Archi
Isn't calling them more time consuming and complicated (and less secure) than using a keygen app on your mobile phone?

It takes me all of 20 seconds to respond when google asks me for a new security key for my email account, and I always have my phone on me so it's always convenient

penrhyn

I'll wait and see on the Secure Key and App. More concerned about Contactless card security.