lloyds Bank cheque account question

james_smitha · 10 April 2021 at 6:56PM

eskbanker said:

The introduction of two factor authentication is indeed a regulatory requirement, but there is plenty of latitude regarding chosen methods and techniques, so there isn't a standardised approach across all players. When this was all being announced a couple of years ago I tried to round up a summary of the differing models being supported by each bank, but haven't kept it updated in more recent times:

https://forums.moneysavingexpert.com/discussion/6021774/strong-customer-authentication-now-delayed-changes-to-online-verification/p1

This is much more like it. Thank you, I shall have a read of that soon. Others not called Lloyds offer 2 choices including phone each time.

james_smitha · 10 April 2021 at 7:00PM

TheShape said:

james_smitha said:

The issue with telephone based authentication is that half the calls that I get are from 'Amazon' or a 'delivery'

Why is this an issue?

TheShape this I get are from 'Amazon' or a 'delivery', has quotes in two parts with good reason

wmb194 · 10 April 2021 at 7:53PM

You'll know when you're due to receive an authentication call so you could just plugin the landline phone when necessary and otherwise leave it unplugged. For your mobile, get a prepaid SIM card rather than a contract.

TheShape · 11 April 2021 at 10:22AM

james_smitha said:

TheShape said:

james_smitha said:

The issue with telephone based authentication is that half the calls that I get are from 'Amazon' or a 'delivery'

Why is this an issue?

TheShape this I get are from 'Amazon' or a 'delivery', has quotes in two parts with good reason

I understand that you were saying you have scam calls but don't understand how that creates an issue with authentication from Lloyds.

If you don't want to own a phone at all, you'll need to switch to a provider that has another means of authenticating a log in. If you do own a phone but don't want to have it plugged in/switched on you could plug it in/switch it on when expecting authentication. If you have a phone that is plugged in/switched on, spam calls won't affect the two factor authentication.

Before switching though you might want to check how they might handle two factor authentication for online debit card purchases if you were to make any. For my Nationwide Credit Card that is by text. I rarely use my NationWide Debit Card.

james_smitha · 13 April 2021 at 9:56AM

wmb194 & The shape I don't doubt that the 'authentication' call is near instant and genuine. I just see it as a lot of needless mucking around. Nationwide can mannage perfectly well with out it. As I see from the likes of google news most scam calls rely on a phone. I don't believe that Lloyds can't see this because they offer 'business' customers the little card reader to generate the one time random number. It also comes to mind that a lot, but not all of the victims are elderly people, though not my razor sharp Mom of 80.

Banks should be allowed to have charges in place for accounts where the customer is a greater risk, like holidays. If you go on a beach holiday your travel insurance is a lot risk than some one going diveing or rock climbing.

The Lloyds account is now in the main only there for show, it has one DD to my energy provider. Every thing else has been moved to the popular rival named here.

wmb194 · 13 April 2021 at 11:31AM

Btw, Lloyds doesn't require authentication every time you log in. It will remember your browser/computer. I normally only need to do it when setting up a new payee. I presume Lloyds hasn't rolled out the card readers to every customer for reasons of cost.

eskbanker · 13 April 2021 at 11:44AM

The HSBC group banks are moving away from card readers towards phone apps and I suspect that this will be the direction of travel for others who are still currently offering these - obviously some folk aren't happy with the increasingly-prevalent use of phones but that genie isn't going back into the bottle and, when all is said and done, you can't please all the people all the time, and of course 2FA is only needed when already using technology to make purchases or access online banking....