I really am reaching the end of my patience with banks and their OTT security

kaMelo

Get used to it as it will only increase. Since the regulator strongarmed encouraged banks to sign up to the CRM code they are effectively on the hook for everything bar a few exceptions. Indeed the FOS positively encourage banks to question their customers payments in great detail, especially for those that fall outside of a customers usual spending patterns.

Cost to the bank of a fraudulent transaction? An unhappy customer, an FOS fee and reimbursing their customer, possibly to the tune of tens of thousands of pounds.
Cost to the bank of a blocked transaction? An unhappy customer, an FOS fee and....not a lot else in the vast majority of cases  With those odds it's no surprise they are blocking more transactions.

Every time you see an article with some unhappy face telling the story of how they did something stupid  fell victim to a (un)sophisticated scam and they want the bank to refund them, they are the reason this is happening.

Be careful what you wish for.

JenB79

kaMelo said:

Get used to it as it will only increase. Since the regulator strongarmed encouraged banks to sign up to the CRM code they are effectively on the hook for everything bar a few exceptions. Indeed the FOS positively encourage banks to question their customers payments in great detail, especially for those that fall outside of a customers usual spending patterns.

Cost to the bank of a fraudulent transaction? An unhappy customer, an FOS fee and reimbursing their customer, possibly to the tune of tens of thousands of pounds.
Cost to the bank of a blocked transaction? An unhappy customer, an FOS fee and....not a lot else in the vast majority of cases  With those odds it's no surprise they are blocking more transactions.

Every time you see an article with some unhappy face telling the story of how they did something stupid  fell victim to a (un)sophisticated scam and they want the bank to refund them, they are the reason this is happening.

Be careful what you wish for.

Well said, couldn't agree more.

At the end of the day, banks are damned if they do (such as OP complaining) and damned if they don't (such as people losing £1000s and then wishing their bank provided better security).