Online Banking protection?

sandyacreuk

Hi,

I see lots of advice regarding FSCS protection of up to £75K per banking institution, but what protection do I have with the bank itself regarding security breaches, unauthorised withdrawal ..etc?

What would happen if someone managed to hack one of my online bank accounts and transfer funds without my knowledge? Do banks have to comply with some form of regulations to reimburse victims?

Any advice welcome.

DCFC79

sandyacreuk wrote: »

Hi,

I see lots of advice regarding FSCS protection of up to £75K per banking institution, but what protection do I have with the bank itself regarding security breaches, unauthorised withdrawal ..etc?

What would happen if someone managed to hack one of my online bank accounts and transfer funds without my knowledge? Do banks have to comply with some form of regulations to reimburse victims?

Any advice welcome.

Well it would help if you regularly logged into the accounts to prevent huge amounts of money coming out of your account you didn't authorise. Bring to the attention of your bank any debits you don't recognise also helps.

Yes they comply with regulations, if you weren't at fault eg used a public pc and left it logged in then the bank wouldn't help.

Browntoa

Most "hacks" aren't actually that

1) clicked on link in that official looking email to verify my details
2) no up to date antivirus
3)confirmed all my details to that nice bloke from the bank when he rang me up
4) I just chuck my old bank statements in the bin once I'm done with them

For 99% of so called hacking read user stupidity

Banks have no legal responsibility for people's stupidity

Apart from a remote chance of a hack or loss of data at Tesco bank I'm not aware of ANY other account hacked

mt99

might be worth lookng at the t and c for onlone banking for your bank do they sa anything useful ?

Browntoa

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We guarantee to refund your money (including charges and interest that you’ve paid or not received as a result) in the unlikely event that you experience fraud with our Internet Banking service. We will take steps to protect you 24/7, using technology and safeguards that meet or exceed industry standards, but you must also use our online banking services carefully.

Being careful when you use our services includes, for example, that you:

Do all that you reasonably can to keep your Security Details (such as online and mobile username, password, and memorable information) secure, and you log off after each Internet Banking session.
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Tell us, as soon as you can if you think your Security Details have been lost, stolen, damaged or are being misused; or think someone may be accessing your accounts without your authority, or has discovered your Security Details.
Carry out regular virus checks on your devices.


If you've been grossly negligent, we will not refund any money taken from your account before you have told us your Security Details have been lost, stolen or could be misused.

We won't give you a refund if you have acted fraudulently.


Personalisation. We will always greet you personally using your Title and Surname. We will never use ‘Dear User’ or ‘Dear Valued Customer’. Where you hold an existing account with us, we will quote the last four digits of your account number, such as your current account, savings account or credit card. If you don’t yet have an account with us but we have your postal address details, we may use part of your postcode. Internet Banking-related emails may also include your Internet Banking User ID.

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mt99

Nationwide for example say you are not liable unless you act with 'gross negligence' - they give some examples