Bank card readers: Love 'em or hate 'em?

Former_MSE_Debs Former MSE Posts: 890 Forumite
edited 27 August 2013 at 9:58AM in MoneySaving polls
Poll started 28 Aug 2013

Customer service champion First Direct is planning to introduce a card reader that you'll always need to get full internet banking facilities. These devices are designed to improve security, but they also get on some people’s nerves. How do you feel about them?

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  • pete_v
    pete_v Forumite Posts: 56 Forumite
    I did switch banks to avoid them. I also wrote to the new bank letting them know that this was the reason, and asking them to please avoid introducing card readers in future. So far they've shown no plans to do so. (Not that I think my one letter made a difference, but if enough of us made our preferences clear...). Instead, when I set up a payment to a new recipient, they make an automated phone call to my registered number (my mobile) and I type in a code to authorise the transaction. This seems acceptably secure against an attacker somehow accessing the Internet part of my account.

    My friends and I quite often need to transfer money around; Faster Payments has made this quite a practical way to pay for a shared takeaway or trolleyful of shopping for a week away. But more and more people now say "I'll have to do that when I get home, I need one of those card reader things" - that's not progress.

  • SawyerLatte
    SawyerLatte Forumite Posts: 2 Newbie
    Agree with pete. I also cited this as a reason when I changed banks, although it wasn't the only one.

    One of the major advantages of internet banking - especially now that more of us have tablets and smartphones - is the ability to access your account anywhere and everywhere. The practice of issuing card readers pretty much limits you to internet banking at home, unless you make a habit of carrying the reader around with you.

    I'm sure there are better alternatives.
  • Torry_Quine
    Torry_Quine Forumite Posts: 18,808
    Part of the Furniture 10,000 Posts Name Dropper Bake Off Boss!
    I'm really not bothered either way. As long as it's secure.
    Lost my soulmate so life is empty.

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  • Lagoon
    Lagoon Forumite Posts: 934 Forumite
    I'm with the (current) 40%.

    I find it incredibly annoying, and there are some times when I've needed to make a payment but haven't had it with me. Very inconvenient, but not worth switching banks over, for me.
  • teeb
    teeb Forumite Posts: 392 Forumite
    I switched to First Direct to avoid them.

    Now that First Direct is trying to introduce them, I am sorely tempted to switch away - I did write them a letter.

    They are horrible things - especially when you have to use them every time you log in. At least with some banks (like RBS) you only have to use them to send payments to new people, and not just to log in and check balances.
  • Herbalus
    Herbalus Forumite Posts: 2,634
    Tenth Anniversary 1,000 Posts Name Dropper
    It's worth noting, for those who are wanting to send payments when they are out and about, that the mobile app doesn't allow you to make add new payees. Surely it can't be too hard to wait until you get home?

    I have accounts with First Direct and Santander. Even though Santander have the OTP code sent to your mobile to make sure the transaction is authorised, they take their time processing new transactions, and query transactions (even blocking the account) to established payees. For this reason I divert all my online payments through First Direct, especially when it's a new payee, because I know that it will work. I just hope the new system, while more irritating than before, retains reliability and doesn't get hung up on security measures.
  • bagby
    bagby Forumite Posts: 828
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Hate my card reader. Used to go on banking site all the time, now the reader is upstairs or anywhere but near the computer. So rarely go on site now. Very inconvenient. Can't be bothered to change bank over it tho.
  • shammyjack
    shammyjack Posts: 2,685
    1,000 Posts Combo Breaker
    It would help if the damned things actually worked.

    I am on my 3rd from Smile as in spite of being ultra careful to enter codes correctly the previous 2 have thrown up incorrect calculations and locked themselves and my account.

    I hate the bloody things !
  • alanq
    alanq Forumite Posts: 4,216
    1,000 Posts Combo Breaker
    edited 28 August 2013 at 10:24AM
    MSE_Debs wrote: »
    Customer service champion First Direct is planning to introduce a card reader that you'll always need to get full internet banking facilities.

    Get your facts straight MSE. First Direct is not about to introduce a card reader. It will be a SecureKey as currently issued by HSBC. Nor will this security device be a requirement as First Direct will be offering the option of using a smart phone app instead. Two errors in one sentence!!!!

    Even with identical card readers / security devices different banks require them for different purposes. Some require them to log in others only for making payments or for setting up new payees. Customers' reactions will very much depend on these policies.
  • kkgree1
    kkgree1 Forumite Posts: 328
    Part of the Furniture 100 Posts Combo Breaker
    I don't have any problems with card readers generally, though I have seen the older generation struggle using them, particularly my mother in law who has Parkinsons and has very little dexterity. The HSBC secure key is apparently designed to fit in your wallet but she has so many problems using it and apparently there is no alternative! Very tempted to move all her accounts from them but it would be too much for her. I wish the banks would consider this before making internet banking difficult for some of the population!
    Mortgage free wannabe
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