Banks still using SMS

masonic

TheBanker wrote: »

I agree that card readers are a different way of authentication a transaction rather than receiving a code via SMS. But the card reader can't be used to send you a message asking you if a transaction that's just been made is genuine. It's a trade off really - does using SMS to alert customers to potentially suspicious transactions prevent more fraud than the number of customers who fall victim to fake text messages?

I have no issues with the text messages alerting customers that a transaction has been made, but these need to be simple messages with no authorisation code and no phone number contained within them. I'd welcome the same message being sent by email.

The current system most banks use of authorising transactions using a secure device, and alerting customers to the outcome using SMS, works quite well. It would be a retrograde step to use SMS for authorisation and alerting.

18cc

I fully agree with the above I have no problem with receiving texts about transactions on my accounts but those texts should not include phone numbers but should just say if you don't recognise the transaction please call us f

For me Halifax are going against best practice to say the least