Password over the phone

lesmiser

I was asked over the phone last week to set up a new password for a cooperative bank account. I refused and went to a branch, where I was asked to set one up verbally in earshot of other customers. Isn't it the case that online banks and banking staff will never ask for your password? 

Brie

Yes staff should never ask you for your password.  But obviously you need to set one up when you have a new account.  So go ahead and do that and then go online immediately and change it to something different.  

Aylesbury_Duck

You did the right thing checking in the branch.  I wouldn't worry about other people hearing too much, because they'd still need to know your other account details, but just change it to something else now if you're concerned.

born_again

lesmiser said:

I was asked over the phone last week to set up a new password for a cooperative bank account. I refused and went to a branch, where I was asked to set one up verbally in earshot of other customers. Isn't it the case that online banks and banking staff will never ask for your password? 

How do you think it would be set up via phone?
Did you set it up in branch?

Online banking is not via phone or in person. It is via computer or app. 👍

Once input by the rep, there is no access to the password in full, by any staff. Internally staff do not access you account via your security details. They use other methods. So knowing your password is nothing to them.

prowla

I've had a bank call me and ask for my password - I asked them it they were serious???

cannugec5

If you were asked over the phone to set up a password whilst setting up a new account this isn’t the bit called online banking, this is telephone banking. 

My bank asks you to set up a specific telephone password that is used if you need to call them. It is never used for any online transactions.