How many banking apps have you on your phone

jonnygee2

There have been instances of phones being stolen, fingers used, or people passed out and a scan taken (no stats as yet so take it for what it is worth at the moment).

Many banking apps (both the ones I use at least) only use the fingerprint to open the app. To actually send money you need a secondary piece of information (PIN for both starling and Monzo). Therefore I don't see a security risk on these apps. I don't know how others work, if any let you send money to new accounts with only a fingerprint, then I agree that would be a risk of some sorts, but I wouldn't use such an app myself.

If you are on your own and 'passing out' you are at risk of far worse things than bank fraud.

Wellard_Mann

Fingerbobs wrote: »

I find the apps much quicker and simpler to log into, if I just want to quickly check balances, check for transactions etc.
Even when sitting at my computer, if I just want to, say, check my credit card balance, I'll reach for my mobile and use the app, rather than log into the web site.

Same here. I think I've probably used banking apps maybe three or four times when out and about.

I have four, for my current accounts, plus two credit card apps.

Herbalus

Some also forget the salaried wage-slave, who in the office 9-5 find it much more interesting to check on bank accounts and move money around instead of actually working.

newatc

I have no banking apps on my phone.
I suppose if you travelling a lot, they can be of great use. But I'm home most days, just can't see the need to add even more complexity to my online activity and more time wasting to my coffee shop/pub visits.
Probably an age thing!

colsten

jonnygee2 wrote: »

Many banking apps (both the ones I use at least) only use the fingerprint to open the app. To actually send money you need a secondary piece of information (PIN for both starling and Monzo). Therefore I don't see a security risk on these apps. I don't know how others work, if any let you send money to new accounts with only a fingerprint, then I agree that would be a risk of some sorts, but I wouldn't use such an app myself.

If you are on your own and 'passing out' you are at risk of far worse things than bank fraud.

Although I have a phone which supports face recognition, which I use for all my banking apps, my phone itself is still secured with a 6-digit PIN. I consider the PIN a heck of a lot safer than face recognition (or than fingerprint, for that matter). Should I ever get mugged, nobody can hold my phone to my face to get access to my phone. They could make me enter my PIN, and I could enter it incorrectly 3 times before the phone gets locked for good. My phone also locks itself after one minute of inactivity, and I obviously also know how to lock it manually.

Some of my banking apps require 2-factor authentication when sending money to existing payees, some don't. Some allow you to set up new payees in the app, others don't.

One other thing I can only do with the app, from the comfort of my home, is pay in a cheque. Yes, I still do get cheques at times, and I appreciate it that I no longer need to make a trip to the bank or to the Post Office just to deposit a cheque.

newatc wrote:

Probably an age thing!

Not here, it isn't. Mind you, I am only in my sixties :dance:

jonnygee2

Some of my banking apps require 2-factor authentication when sending money to existing payees, some don't. Some allow you to set up new payees in the app, others don't.

Okay, well if some of them allow you to set up a new payee and send money with no 2FA, I think that is probably pushing it in terms of security. Who does that? I think I'd avoid that system.

Although I have a phone which supports face recognition, which I use for all my banking apps, my phone itself is still secured with a 6-digit PIN. I consider the PIN a heck of a lot safer than face recognition

I disagree, the problem with a PIN is that someone can see you entering it. I've even seen footage of someone who taped a mirror in a bus and someone who manged to get it from a video of someones sunglasses where it was reflected. Reflective surfaces are everywhere, people are often behind you, it's pretty impractical to always enter your phone pin concealed if your phone locks as often as it should.

Fingerprint, I think, is much better - there's probably a flaw somewhere but its much harder to imagine it being exploited.

gardner1

amex
halifax
lloyds
nationwide
paypal
chip

colsten

jonnygee2 wrote: »

I disagree, the problem with a PIN is that someone can see you entering it........

there's an easy answer to that one. So easy, I won't even describe it here.

jonnygee2 wrote: »

Fingerprint, I think, is much better - there's probably a flaw somewhere but its much harder to imagine it being exploited.

I know you think wrong. Two burly thugs can easily force the finger of a weaker person (e.g. most women) onto the phone button, and hey presto, after max 10 tries (but probably a lot less), the phone is open. Whilst they can, in theory, be lucky enough to guess my 6-digit PIN before the phone locks itself useless, the likelihood that they do is most definitely not 1 in 10. Add to this that people have actually hacked fingerprints (and face recognition).

colsten

jonnygee2 wrote: »

Okay, well if some of them allow you to set up a new payee and send money with no 2FA, I think that is probably pushing it in terms of security. Who does that? I think I'd avoid that system.

I did not say that there are any apps that allow you to set up a new payee without 2FA.

NB. Amazon have tinfoil hat offers if you need any spare ones

Red-Squirrel_2

colsten wrote: »

there's an easy answer to that one. So easy, I won't even describe it here.

I know you think wrong. Two burly thugs can easily force the finger of a weaker person (e.g. most women) onto the phone button, and hey presto, after max 10 tries (but probably a lot less), the phone is open. Whilst they can, in theory, be lucky enough to guess my 6-digit PIN before the phone locks itself useless, the likelihood that they do is most definitely not 1 in 10. Add to this that people have actually hacked fingerprints (and face recognition).

If ‘two burly thugs’ are willing to assault someone for their fingerprint do you think they’d just accept it graciously when you decline to give them your PIN? :rotfl: