MSE News: TSB cancels direct debits of customers who've switched away - and claims they've DIED

ValiantSon

Mchambers wrote: »

Is she still poorly ?

I see that MSE posted yesterday that TSB have no idea when their IT problems will be fixed

https://www.moneysavingexpert.com/news/banking/2018/05/tsb-still-hasnt-said-when-its-it-problems-will-be-fixed---a-month-after-they-started.

Oh dear poor TSB.:D

Care to comment Mr TSB ?

Yawn.

Nothing better to do with your time? You really are most tiresome.

Yorkshire_Pud

EachPenny wrote: »

This is the real issue, it seems incredible that someone can 'steal' your phone number so easily. If action is required by the Government and/or regulators then it should be about changing the processes of the mobile phone companies to make sure they are dealing with only the account holder when requesting a change of SIM.

Unfortunately the current obsession with slagging off TSB and making out that everything is their fault is distracting attention away from what should be shouted very loudly at customers - that even if you are in physical posession of your mobile fraudsters can effectively steal what many people consider to be a secure means of communication and use it empty your bank accounts.

If I had the option I would now be opting out of having verification codes sent by SMS and use my landline only.

Getting the mobile number transferred to a fraudsters phone is one thing. The other is the fraudster needs to be logged in to the victims online account to request the transfers that generate the security text? Then verify the code online as well.

masonic

Yorkshire_Pud wrote: »

Getting the mobile number transferred to a fraudsters phone is one thing. The other is the fraudster needs to be logged in to the victims online account to request the transfers that generate the security text? Then verify the code online as well.

No, once a fraudster has control of the victims phone number, they can reset the password and security information by entering a few personal details (full name and DOB). They will then receive a code by SMS and be able to choose a new password and memorable word and use it to log on.

I know this as I had to reset my password and security information a couple of times following the upgrade due to TSBs mobile app thinking I got them wrong when I didn't.

Yorkshire_Pud

masonic wrote: »

No, once a fraudster has control of the victims phone number, they can reset the password and security information by entering a few personal details (full name and DOB). They will then receive a code by SMS and be able to choose a new password and memorable word and use it to log on.

I know this as I had to reset my password and security information a couple of times following the upgrade due to TSBs mobile app thinking I got them wrong when I didn't.

That's shocking. There must be a better way.
DOB name and number are the easiest bits of info to find out. Almost public domain with social media and their cookies.

EachPenny

Yorkshire_Pud wrote: »

That's shocking. There must be a better way.
DOB name and number are the easiest bits of info to find out. Almost public domain with social media and their cookies.

...not to mention which banks you use when people scramble to join in the posting of their own personal 'disaster' stories without thinking of what information they are giving away.

masonic

Yorkshire_Pud wrote: »

That's shocking. There must be a better way.
DOB name and number are the easiest bits of info to find out. Almost public domain with social media and their cookies.

Yes, but remember they are resetting the details associated with a known User ID, so they'd need to know that. It looks like you can receive a reminder of your User ID by entering the same information plus sort code and account number for one of your accounts, which is not supposed to be kept secret either. Just don't write any cheques, set up any direct debits or make any transfers to other people and your account is safe

lindez

EachPenny wrote: »

Was there a need to make personal comments?

The point I'm making is that in terms of business impact this particular issue is of only minor relevance to customers staying with TSB.

As far as I'm concerned I'm not going to pass up the opportunity to earn 5% interest on £3k just because a (small?) number of ex-customers have been affected by a most unfortunate mistake.

The predictions of TSB collapsing as a result of this specific 'outrage' are rather overblown.

It also appears the ex-customers who have been affected by this error will be receiving very generous amounts of 'wonga' for the inconvenience they have suffered.

Hi how do you get 5% on 3K mine offers 5% on 1.5 K thank you

ValiantSon

lindez wrote: »

Hi how do you get 5% on 3K mine offers 5% on 1.5 K thank you

Some people have more than one account, for example, they may have a joint account and a solo account. This gives them 5% on £3,000.

badger09

ValiantSon wrote: »

Some people have more than one account, for example, they may have a joint account and a solo account. This gives them 5% on £3,000.

And some of us still have 2 sole accounts, which was allowed within the T&Cs at the time they were opened.

soulsaver

masonic wrote: »

The SMS system is very convenient, which is why it is popular. It would be nice if those willing to give up a little convenience for more security were catered for as well.

They are mostly, you don't have to give your mob to most banks..although I am aware of exceptions, eg BoCyprus UK.