Marcus Goldsmith savings account 1.5 %

mac1611

opened up a new savings account today with Marcus Goldsmith but !!!!!! security on my account is frighteningly awful !!!!.I logged out and and logged back in again ,no pin number asked for ? no other forms of security asked for .!!!! If my laptop got stolen all my savings were given on a plate to whoever wanted to withdraw at any time !!!!! Appalling wont be using it !!!!! :eek:

soulsaver

mac1611 wrote: »

opened up a new savings account today with Marcus Goldsmith but !!!!!! security on my account is frighteningly awful !!!!.I logged out and and logged back in again ,no pin number asked for ? no other forms of security asked for .!!!! If my laptop got stolen all my savings were given on a plate to whoever wanted to withdraw at any time !!!!! Appalling wont be using it !!!!! :eek:

Try logging into Goldman Sachs's 'Marcus' & let us know how you get on

masonic

Presumably the worst they could do is transfer them to your linked bank account. Or are you saying 'Marcus' will allow you to send money to any bank account? Didn't it ask you for a username and password?

Rheumatoid

mac1611 wrote: »

opened up a new savings account today with Marcus Goldsmith but !!!!!! security on my account is frighteningly awful !!!!.I logged out and and logged back in again ,no pin number asked for ? no other forms of security asked for .!!!! If my laptop got stolen all my savings were given on a plate to whoever wanted to withdraw at any time !!!!! Appalling wont be using it !!!!! :eek:

Damn,

better close mine quick before some scammer loads up my current account

colsten

All the thief could do is withdraw the loot from your Marcus account to your current account, which no doubt has got security you are satisfied with.

But hey, why let get facts get in the way of having a good rant.

Terry_Towelling

I thought it unusual that there wasn't a second step to log-in. I imagine there is more involved in withdrawing money to your linked account (not tried it yet) and accept that thieves might not get any further than loading up your linked account.

However, they might be able to grab some of your confidential identity information and use that to their benefit. They might also be able to change your details to stop you getting in and then change your linked account - although I haven't checked how this process works within Marcus.

I would also imagine that any changes will be advised to your original email/mobile phone number, so you will be aware that someone is up to no good.

Prism

Surely the point is that you had to log in to your laptop to access the website. Therefore anyone who was to steal the laptop cannot get in without your login

colsten

Terry_Towelling wrote: »

I thought it unusual that there wasn't a second step to log-in. I imagine there is more involved in withdrawing money to your linked account (not tried it yet)

Yes, you are imagining that there is more involved in withdrawing money. Why not trying it rather than speculating about it?

Terry_Towelling wrote: »

However, they might be able to grab some of your confidential identity information and use that to their benefit.

What confidential information did you have in mind? Name, address, email address [which the prospective thief already has], phone number?

Terry_Towelling wrote: »

They might also be able to change your details to stop you getting in and then change your linked account - although I haven't checked how this process works within Marcus.

You are right, things like email address and phone number can be changed. The linked account cannot be changed. For any changes, an instant confirmation email gets sent to the email address you originally registered, asking you you to contact Marcus immediately on their freephone number if you didn't make the changes. Again, why not trying it rather than speculating how it might work.

Terry_Towelling wrote: »

I would also imagine that any changes will be advised to your original email/mobile phone number, so you will be aware that someone is up to no good.

You are imagining correctly this time.

colsten

Prism wrote: »

Surely the point is that you had to log in to your laptop to access the website. Therefore anyone who was to steal the laptop cannot get in without your login

I agree. The OP should be more concerned about the security on and for their laptop, and on their current account and their email address. If the prospective thief can crack all these, then yes, any money in Marcus might also be at risk. I would suggest though that in this case the OP shouldn't be online with anything at all.:cool:

Terry_Towelling

Is there a feeling out there that many of the other savings providers (that also only allow withdrawals to a linked account but do require additional log-in/withdrawal security) are going too far with their security?

masonic

Terry_Towelling wrote: »

Is there a feeling out there that many of the other savings providers (that also only allow withdrawals to a linked account but do require additional log-in/withdrawal security) are going too far with their security?

Many of them don't just offer savings accounts and it makes sense to have a single login process.

Quite a number of financial accounts I hold don't require two step login. A few offer it optionally. It's never been a cause for concern to me when the financial product in question does not provide any means for money to be stolen without considerable additional security.