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Do you have a verifiable source for this?
I know that many of the main players chose to sign up in May to a voluntary code of conduct offering increased consumer protection specifically against authorised push payment scams but am unaware of any change in the ombudsman service's stance on this or scams in general....
https://www.theguardian.com/money/2018/aug/25/bank-fraud-victims-refunds-financial-ombudsman
https://www.which.co.uk/news/2018/08/fos-warns-banks-to-treat-scam-victims-more-fairly/
https://www.moneysavingexpert.com/news/2018/08/banks-told-to-treat-fraud-victims-fairly-by-financial-ombudsman-/
https://citywire.co.uk/funds-insider/news/fos-blasts-banks-for-refusing-fraud-compensation/a1148606
https://news.sky.com/story/unfair-for-banks-to-assume-scam-victims-are-at-fault-financial-ombudsman-11478947illegitimi non carborundum0 -
The FOS guidance to banks on scams resulting from "negligence" changed last August. I have a family member who benefited from this change, and was refunded shortly afterwards after over a year of "discussion" with the bank and the FOS.
https://www.theguardian.com/money/2018/aug/25/bank-fraud-victims-refunds-financial-ombudsman
https://www.which.co.uk/news/2018/08/fos-warns-banks-to-treat-scam-victims-more-fairly/
https://www.moneysavingexpert.com/news/2018/08/banks-told-to-treat-fraud-victims-fairly-by-financial-ombudsman-/
https://citywire.co.uk/funds-insider/news/fos-blasts-banks-for-refusing-fraud-compensation/a1148606
https://news.sky.com/story/unfair-for-banks-to-assume-scam-victims-are-at-fault-financial-ombudsman-11478947
Upheld: 154
Not Upheld: 3090 -
tempus_fugit wrote: »Basically what it is is that some people are just so adamant that they are not going to be forced to follow trends of any sort, particularly the massive one of using mobile phones. I know people like this.
This used to be me.:o I was adamant that I was not going to let FD force me onto the digital secure key when my old physical one ran out of battery (I was annoyed at the time as well that I couldn't just open it up to replace the battery).
Replacement seemed to take for ever to receive in the post. Got fed up with waiting and decided to get the digital one instead. It was set up in less than 10 minutes, and I love the size of the numbers on my phone compared to the fiddly LCD numbers on the physical key.
What I love most though, is being able to open the banking with a thumb print. Don't know why I was adverse to all this before.
Only caveat though, is when the banking apps get updated constantly and there will come a point where the version you need is not able to be loaded on your phone because the software version is not compatible with your older phone.0 -
It doesn't, unless you choose to use a bank who offers mobile communication of the OTP only. I believe the only one doing this is Santader, and it's been in their T&Cs for at least 8 years that you need a mobile to operate the account.
Santander were hinting they would drop the OTP at some time in the future in favour of exclusively the app. Seemed they backtracked on this after a lot of calls from worried customers. I can see them backtracking further and allowing calls to landlines if they lose a lot of business because of this.0 -
Santander were hinting they would drop the OTP at some time in the future in favour of exclusively the app. Seemed they backtracked on this after a lot of calls from worried customers. I can see them backtracking further and allowing calls to landlines if they lose a lot of business because of this.0
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I'd rather they paid us better interest than waste money on implementing and maintaining landline OTP functionality to satisfy a tiny number of people whose purpose in life appears to be to moan.
Fair point. I think they will lose more customers by offering poor interest rates than refusing to implement landline access to OTP.0 -
tempus_fugit wrote: »Basically what it is is that some people are just so adamant that they are not going to be forced to follow trends of any sort, particularly the massive one of using mobile phones. I know people like this. If they got a mobile phone even just to receive bank OTPs they would feel that they have been coerced into it, and they will take any other route, even crazy ones like the dongle, to avoid doing so.
Exactly, and my point is: when people take this route, it is not reasonable of them to expect the rest of the world to bend over backwards to accommodate their whimsy.
Don't want a mobile phone? Fine, don't have one. But don't then act all hard-done-by when it turns out that your* decision makes your life harder.
*not your "your", I mean the "your" of these people.0 -
Fair point. I think they will lose more customers by offering poor interest rates than refusing to implement landline access to OTP.
Not for current accounts though. When was the last time you saw a current account with a measurable interest rate?
I think people will be willing to lose a bit of convenience for the sake of a higher interest on a savings account - as you tend to interact with them less frequently.0 -
Not for current accounts though. When was the last time you saw a current account with a measurable interest rate?
Things were quite a bit better on the current accounts front in the recent past.0
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