The Co-operative Bank Security.

Fedz

For several years I have been a customer and a member of the co-operative.

Today I received in the post a copy of the magazine by them called 'Change' - Winter 2008 issue.

In 'your letters' is a letter sent (by email) from Ellen Nock titled 'Good in an Identity Crisis' while under it the editor replies.

Also in this magazine and a past magazine The Co-operative have expressed how secure they are in banking.

In all honesty I'm bewildered/perplexed/confused as Co-op bank debit cards have the customers name, account number and sort code - this is (in my opinion) a security risk of making it easy for others to gain the info and possibly set-up direct debits for services ...etc without your knowledge.

Another is (and I've outlined this before in previous posts) the online and telephone banking doesn't reflect pending outgoing debit card transactions in your available balance so if someone used your debit card details to buy things remotely then you wouldn't possibly notice until well after the event when it shows via internet/telephone banking or you ran out of money or went to the cashpoint :huh:

I've made several phone calls, emails and surface mail letters to the co-op head office but, it always falls on deaf ears :rolleyes: and all this from a bank that prides itself on being customer led, ethically guided

Hazzanet

Address your letters to Martin Kent who works in Fraud Prevention. I had a long discussion with him regarding Chip and Pin, and he's very helpful.

inmypocketnottheirs

Fedz wrote: »

I've made several phone calls, emails and surface mail letters to the co-op head office but, it always falls on deaf ears :rolleyes: and all this from a bank that prides itself on being customer led, ethically guided

I had the misfortune to be a customer of The Co-operative (sic) Bank for a few years. In fact I believe that for the misleading use of the word co-operative followed by bank they should be reported to Trading Standards.

Deafness is certainly endemic at the so called Co-operative, especially when telling them things they do not want to hear. TBH, though it could just be that they can't read. Nothing would surprise me, a bunch of poorly trained chimps could do better.

My advice is to change banks. Where to is the problem though, as the service in the UK banking sector is diabolical everywhere. Still a vote with the feet is the only way of protesting. I really don't think you can be any worse off anywhere else.

RayWolfe

Co-op bank debit cards have the customers name, account number and sort code

Same information is on every cheque anyone ever used for payment. Has that generated false DDs?

... actually, I think you'll find it's on every debit card ...

inmypocketnottheirs

RayWolfe wrote: »

[/left]

Same information is on every cheque anyone ever used for payment. Has that generated false DDs?

... actually, I think you'll find it's on every debit card ...

Not on my citibank debit card. Just a sixteen digit number that does not include the account number. Only the sort code is shown on the bottom of the card.

LittleVoice

Fedz wrote: »

. . . as Co-op bank debit cards have the customers name, account number and sort code

Another without the account number is Royal Bank of Scotland Maestro/Highline debit card.

Hazzanet

My NPBS card doesn't show the a/c number, but strangely for a Visa Debit, the last eight numbers of the PAN are the same as my account number. First time I've ever seen this correlation with Visa.

Fedz

RayWolfe wrote: »

[/left]

Same information is on every cheque anyone ever used for payment. Has that generated false DDs?

... actually, I think you'll find it's on every debit card ...

Not on my NatWest current account debit card, it just has the sort code to identify my local bank.

NatWest also show almost immediately outgoing pending transactions and they are all individually listed by date, trasaction and amount online, by telephone banking and the cashpoint.

Out of all my current accounts only the co-op do the above but, when I inform them of this, they claim I'm incorrect as they are normal - their words, not mine ... :rolleyes:

System

RayWolfe wrote: »

[/left]

Same information is on every cheque anyone ever used for payment. Has that generated false DDs?

... actually, I think you'll find it's on every debit card ...

That information is on most debit/cash cards, but I don't think its a major issue for fraud. If it's not on the card, then when you want the details you can't just take them from your card.

I personally fail to see the great value in an account number, as direct debits are relatively safe, any problem and they can be cancelled /money returned.

The debit card number has much more 'fraud' value

System

Some banks do/don't list pending debit card transactions.

If its an on-line debit card, like Solo/Electron or these 2in1 Maestro/Visa Debit card then its much more likely to earmark, but many just take it off your available balance.

Fedz

The omission of account number on a debit card itself isn't a major security issue but, is an easily avoidable one and coupled with internet and telephone banking not reflecting outgoing pending debit card transactions it does compound the security issue.

If someone did fraud your card you'd never know until The Co-op displayed it online or via telephone banking - which can be 24/48/72 hrs after the event and or you ran out of money

I have several current accounts - full and basic accounts and the co-op bank is the only one that I have that does this.

All have the account number and sort code except NatWest and NatWest is the only one (I have) that initals the outgoing pending debit card transactions.

To me (and maybe others) shows that NatWest is proactive at reducing possible fraud to it's customers