Best bank for security

agrinnall

gt94sss2 wrote: »

If you're talking about online security, then the solution employed by HSBC/First Direct is more secure than that used by most banks as their SecureKey is unique to your account.

But it's also by far the most difficult to use, which may well lead to people giving up the account despite the (possible) higher level of security offered.

bubieyehyeh

I wouldn't rate first direct. I give all companies unique email addresses. I started getting SPAM on the email I only gave to first direct.

Not conclusive but no other addresses leaked. Same happened with Santander a few years back, and several other people were reporting the same at the time.

soulsaver

agrinnall wrote: »

But it's also by far the most difficult to use, which may well lead to people giving up the account despite the (possible) higher level of security offered.

You don't need to use it for day-to-day access (like M&S does) but just to set up a new payee... and even then you can do it by phone banking instead if you don't like the digidongleting.

Geoff1963

Most banks shut down their App / Internet Banking etc. at various times or have unplanned outages ; which also ( temporarily ) denies you access to your money. Spread it around.

RG2015

soulsaver wrote: »

You don't need to use it for day-to-day access (like M&S does) but just to set up a new payee... and even then you can do it by phone banking instead if you don't like the digidongleting.

I don't have an HSBC account but their website says "Use your Digital Secure Key to log on to mobile and Online Banking". This sounds to me like day to day access.

I do bank with NatWest which does only require their card reader for new payee setup and PIN/password changes.

Anthorn

colb15 wrote: »

Just wondering if people have any views on which bank has the best security. Have an irrational fear that my account will be wiped out one day. Seem to remember First Direct being quoted in some article

Security in what area?

If you're talking about online security, that is a compromise between customer ease of use and a secure online environment. Banks could make authentication so difficult that customers find it difficult to log in which case they will take their business elsewhere. Personally I like 3rd stage authentication such as that little calculator type thingy or Google Authenticator or even authentication through a phone call.

I go with that old appraisal of the Internet: If it's online it will get hacked.

batrachophagus

patman99 wrote: »

Metro Bank have one good security feature that no other bank uses. They take your photo when you sign up to an account.

If someone steals my card and attempts to use fake id to withdraw money over the counter, they will fail as the teller will see my photo on the screen and know the person in front of them is not me.

N&P used to print the customer's photo onto their payment card next to the signature strip - it didn't stop all fraud, and may have been expensive as it was discontinued when Abbey National took over.



It is probably impossible to rate banks against one another for security as they don't release any data.


Tesco Bank win the wooden spoon for being worst online though.

mt99

I think the Bank of England has the best security they have 24-hour guards and time locks on the vaults

robatwork

batrachophagus wrote: »

N&P used to print the customer's photo onto their payment card next to the signature strip - it didn't stop all fraud, and may have been expensive as it was discontinued when Abbey National took over.

Another bank used to do this too, but I can't remember which one. I have been with Abbey/A&L for a long time so I would have said them but for what you typed. I remember when I got the card thinking what a great idea it was....

DCFC79

Best bank with security is your own bank at home with the money under a mattress and you take out how much you need each day.

Back on topic, I cant comment on FD, I find Barclays annoying as you need the Sentry pad and the card unless you have the app downloaded.

RBS, Hallifax, Lloyds, TSB and Tesco are ok, not had an issue with any of them 5 being accessed by anyone other than me.