Am I The Only Person Who Doesn't Use Open Banking and Doesn't Want To Download Banking Apps?

worried_jim

Willing2Learn wrote: »

I cannot see how a phone can be any more or any less secure than a regular PC. A modern phone is after all, a mini-computer...And as we all know, a computer (whether a phone or pc) has vulnerabilities. The more popular the hardware, the more vulnerabilities there are...

A lot easier to hack a pc and web browser than a phone app.

eskbanker

colsten wrote: »

I think you misunderstand what open banking does. It won't let you log into your accounts and transact on them. It just displays the balances.

Not necessarily - the principle of open banking envisages transactional access as well as read-only, as per https://www.openbanking.org.uk/wp-content/uploads/What-Is-Open-Banking-Guide.pdf:

From January 2018, there will be an alternative online payment method. Regulated companies will also be able to make payments directly from your bank account - but only after you have given your explicit consent of course.

Having said that, I suspect that the third party products currently available in the market may only be in relatively early stages of development, without offering full access just yet, but it should be on the way....

binaryuniverse

Open banking is a 100% no, for me.


I do have banking apps on my phone. I'd rather not but I have so many accounts the fingerprint login helps speed up my monthly round up. My phone needs fingerprint/code to unlock, as do the banking apps. So, should I lose the device, they shouldn't be able to get into my bank accounts. If I am being forced to do it then I have bigger problems to deal with.

meer53

JustAnotherSaver wrote: »

Open your phone else i'll stick this knife in to you.


Thanks for letting me in




Unlikely but not impossible and depending what areas we're talking it could be reasonably likely.

Same as "give me your card and PIN or i'll stick this knife in you"

Nothing will ever be 100% secure. I use apps for all my accounts with thumbprint access, i love them. I still use my laptop occasionally when i'm at home but it's such a faff to fire it up, much easier to use my phone. I can do all my banking on my phone before i've managed to log on to the websites !

Willing2Learn

worried_jim wrote: »

Did you know the Apps are more secure than logging in by a browser?

worried_jim wrote: »

A lot easier to hack a pc and web browser than a phone app.

Are you able to provide evidence to support your claims? Thanks

JustAnotherSaver

colsten wrote: »

Right. So I type a wrong PIN 6 times and my iphone disables itself for a period of time. After 10 unsuccessful tries, my iPhone totally wipes itself.

Next.

And you think the guy let you play around 6 times?

You were dead after you messed around 3 times.


Obviously it's all what if, even if it's extremely unlikely (but not impossible). We can all play the role of clever clogs

Willing2Learn

But isn't it possible to bypass all security measures?
https://www.google.co.uk/search?q=how+to+bypass+iphone+passcode&ie=&oe=

EssexExile

If I had apps for all my banks I'd need a better phone, not very MSE!

zagubov

JustAnotherSaver wrote: »

Open your phone else i'll stick this knife in to you.


Thanks for letting me in

You're holding your knife in one hand and my unlocked phone in the other.

I'm out of here, screaming my head off.

I use the thumbprint unlock. Severed thumbs won't work.

Best security idea I heard of was the VISAGE system some banks were experimenting with. It used a sequence of faces you'd click on. Easy to recognise, difficult to describe, impossible to steal from a frightened victim.

stehouk

Mobile banking and apps are the future, pc's will become obsolete like cash.