HSBC Refusing to refund stolen £1100!

colsten

smjxm09 wrote: »

Seem that your bank does not do this and anyone banking with them is at risk.

HSBC does not text or call when a new payee gets set up but you must use the security gadget that is personal to you. It's just as safe as the method you are familiar with, so nobody is put at risk.

smjxm09

It's an alternative to Pinsentry/tokens that the majority of banks use, not "a last line of defense". It's arguable which is more secure.
All the banks you use are rather minority than majority.

I use Halifax, Santander, Bank of Scotland and TSB.

If the HSBC used a call or text method this guy would have been alerted to the payment and would have had to agree to it.

Archi_Bald

smjxm09 wrote: »

I use Halifax, Santander, Bank of Scotland and TSB.

If the HSBC used a call or text method this guy would have been alerted to the payment and would have had to agree to it.

HSBC do not need to text or call their customers as their confirmation method requires the use of their SecureKey. It is impossible to create a new payee without the SecureKey which cannot be operated without a PIN.

gunsandbanjos

smjxm09 wrote: »

I use Halifax, Santander, Bank of Scotland and TSB.

If the HSBC used a call or text method this guy would have been alerted to the payment and would have had to agree to it.

All well and dandy until someone pulls a sim swap on you.