physical card readers

eskbanker

friolento said:

eskbanker said:

friolento said:

km1500 said:

I suppose another way looking at it is that it is a very secure method - much more secure for example than sending a text with numbers in it

not as secure as biometric authentication, which is now increasingly used by many banks. Card readers are very easy to come by, and any thief who has my debit card and PIN can log into my Nationwide account, set up new payees and make payments.

I'd suggest that any thief who has obtained someone else's debit card and PIN wouldn't go to the trouble of accessing an online account and would just be heading swiftly for the nearest ATM before the loss/theft was reported, so any security weakness with card readers would be moot in this scenario....

You need more imagination. ATM withdrawals might suit the fraudster for smallish withdrawals. Online payments are possible for up to £100k per day. People might have substantial amounts in their Nationwide accounts. Unless these are fixed term accounts, they can all be emptied via a Nationwide current account.

It's nothing to do with imagination!  I can imagine aliens landing but that doesn't make it a likely scenario, so, although your hypothetical situation of someone obtaining a debit card and PIN and attempting to access an account online may indeed be theoretically possible, it remains a highly improbable outcome IMHO....

friolento

eskbanker said:

friolento said:

eskbanker said:

friolento said:

km1500 said:

I suppose another way looking at it is that it is a very secure method - much more secure for example than sending a text with numbers in it

not as secure as biometric authentication, which is now increasingly used by many banks. Card readers are very easy to come by, and any thief who has my debit card and PIN can log into my Nationwide account, set up new payees and make payments.

I'd suggest that any thief who has obtained someone else's debit card and PIN wouldn't go to the trouble of accessing an online account and would just be heading swiftly for the nearest ATM before the loss/theft was reported, so any security weakness with card readers would be moot in this scenario....

You need more imagination. ATM withdrawals might suit the fraudster for smallish withdrawals. Online payments are possible for up to £100k per day. People might have substantial amounts in their Nationwide accounts. Unless these are fixed term accounts, they can all be emptied via a Nationwide current account.

It's nothing to do with imagination!  I can imagine aliens landing but that doesn't make it a likely scenario, so, although your hypothetical situation of someone obtaining a debit card and PIN and attempting to access an account online may indeed be theoretically possible, it remains a highly improbable outcome IMHO....

Engage that imagination! The fraudster could, for instance, be someone people live with.

eskbanker

friolento said:

eskbanker said:

friolento said:

eskbanker said:

friolento said:

km1500 said:

I suppose another way looking at it is that it is a very secure method - much more secure for example than sending a text with numbers in it

not as secure as biometric authentication, which is now increasingly used by many banks. Card readers are very easy to come by, and any thief who has my debit card and PIN can log into my Nationwide account, set up new payees and make payments.

I'd suggest that any thief who has obtained someone else's debit card and PIN wouldn't go to the trouble of accessing an online account and would just be heading swiftly for the nearest ATM before the loss/theft was reported, so any security weakness with card readers would be moot in this scenario....

You need more imagination. ATM withdrawals might suit the fraudster for smallish withdrawals. Online payments are possible for up to £100k per day. People might have substantial amounts in their Nationwide accounts. Unless these are fixed term accounts, they can all be emptied via a Nationwide current account.

It's nothing to do with imagination!  I can imagine aliens landing but that doesn't make it a likely scenario, so, although your hypothetical situation of someone obtaining a debit card and PIN and attempting to access an account online may indeed be theoretically possible, it remains a highly improbable outcome IMHO....

Engage that imagination! The fraudster could, for instance, be someone people live with.

If someone has access to debit card and PIN and lives under the same roof as the account holder then that does indeed open up quite a few fraud possibilities but I'd still maintain that the use of a card reader wouldn't form a particularly significant incremental risk in that scenario, and it wouldn't be a fraud with any realistic prospect of success.

Brie

And then there's M&S who have a completely unique pin sentry that doesn't need a card inserted and can't be used for any other institution.  

WillPS

Brie said:

And then there's M&S who have a completely unique pin sentry that doesn't need a card inserted and can't be used for any other institution.  

It isn't a "PINsentry" which is Barclays trademarked name for a card reader and it also isn't unique - differently branded but otherwise identical devices were/are used by HSBC UK and First Direct. Triodos use something similar.

adindas

housebuyer143 said:

You know it's not one or the other right? You can still access it online but the app is additional.

Well I am fully aware of that as I have been doing that for accessing banking that need frequent access. It is a personal preference, I guess. I simply do not like to install apps on my mobile devices. Also to me it is very inefficient and less accurate for specific tasks such creating a new payee, SO, completing a new AF, etc. Using online banking you could just literally just copy and paste account No or other information from your drives. Not to mention the size of the fonts.

Some people here are banking with more than twenty financial institutions. It is not only for current accounts but also for fintech, money apps, investment, trading, saving. etc

Are they going to install all of them on their mobile devices??. Not to mention the hassles if you loose your mobile devices.

housebuyer143 said:

Not sure why you need a "powerful" desktop to run an internet browser?

Even just for browsing; If you open more than then ten tabs (say), websites on your browsers at the same time you will notice the difference between dyno-sour PCs and powerful PCs.  It is not just  about the internet connection, but also how powerful your PC/Laptop to handle many tasks at the same time.

Keep in mind, people are using their PCs not only for browsing but for other purposes such as work, entertainment, etc. Sometimes doing several things at the same time. For instance, trading, gaming, listening to music, watching / downloading online movies, VR XXX  ,  , video editing for social medias, YouTubers etc.

noh

adindas said:

housebuyer143 said:

You know it's not one or the other right? You can still access it online but the app is additional.

..........Some people here are banking with more than twenty financial institutions

Are they going to install all of them on their mobile devices??.........

Yes some are. I just counted my banking and savings apps the total is 27 and that doesn't include the credit card apps or Sharedealing app

km1500

WillPS said:

Brie said:

And then there's M&S who have a completely unique pin sentry that doesn't need a card inserted and can't be used for any other institution.  

It isn't a "PINsentry" which is Barclays trademarked name for a card reader and it also isn't unique - differently branded but otherwise identical devices were/are used by HSBC UK and First Direct. Triodos use something similar.

it is 'unique' in that once it is activated and linked to your account it can only be used to login to your account and thus extremely secure as long as you don't reveal the device PIN to anyone

B0bbyEwing

Baffled by the opening post tbh.

flaneurs_lobster

B0bbyEwing said:

Baffled by the opening post tbh.

Quote it and explain your bafflement.

Otherwise your comment is simply baffling.