The Co-operative Bank Security.

System

Fedz wrote: »

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 initials the outgoing pending debit card transactions.

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

Glad your happy with NatWest
Good luck with the CO-OP
Can't really offer anymore advice
:A

Mikeyorks

Fedz wrote: »

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

If you look around you will find .... as Co-op said to you ..... they are in the norm in doing this. And, as previously posted, it mimics the data you disclose every time you issue a cheque.

Seems a lot of fuss about an aspect which is not proven to diminish risk.

The further condemnation in your OP regarding 'reserved' DC transactions is also a bit unbalanced. Yes - it's extremely useful to be able to see what's in transit ..... but consider the millions who have no access to online Banking? Is their exposure to fraud made worse by the fact they have no better early warning system than perhaps a monthly statement?

Fedz

You're right

I should take comfort in the knowledge of the millions that don't have online banking (monthly statements in the post only) with the co-op to compensate for the inadequacy of their on-line access and what I see as a genuine lack of easily avoidable potential early warning of fraud to customers

Luckily we have alternative forward thinking banks that take potential fraud seriously

soolin

First Direct and HSBC debit cards also have the account number and sort code on them.

Fedz

Soolin: do FD and HSBC either display debit card transactions almost immediately online and via telephone banking or do they (as Halifax do) simply deduct pending transactions from your available balance (which is better than none (the co-op)).

gt94sss2

Fedz wrote: »

do FD and HSBC either display debit card transactions almost immediately online and via telephone banking or do they (as Halifax do) simply deduct pending transactions from your available balance (which is better than none (the co-op)).

HSBC/FD seem to update their online statements immediately if you withdraw money from an ATM.

If you use your debit card in a shop, the available balance changes almost immediately and the transaction normally seems to appear 'properly' within 24 hours.

Regards
Sunil

Fedz

What gets me is the co-op always say they are the norm with them not showing or taking pending debit card transactions into account with your online/telephone banking available balance :rolleyes:

Why they insist they're right when I tell them I have numberous other debit cards to say this is simply the opposite and the co-op is one-on-it's-own ...

Customer led, it's a joke :eek:

realaledrinker

I suspect that if they polled their customers on whether they felt that the lack of on-line visibility of pending transactions constituted a fraud risk, the overwhelming majority would say no. It has never occurred to me that it might be a risk.

The Co-op (unlike smile) still have a relatively low proportion of on line users (I know cos I work for them!).

A constructive letter to the following would be worthwhile:

David Anderson
Chief Executive Officer
Co-operative Financial Services
Miller Street
manchester
M60 0AL

Fedz

At the risk of repeating myself and as a conclusion: all I know is it's the 'norm' to reflect pending outgoing debit card transactions in the available balance - this I reach as all my other bank accounts do this online and via telephone banking.

The Co-op bank doesn't do this but, I guess they easily could if they wanted.

Deducting pending debit card transactions does serve a purpose to customers for ease of information only and also keeps the customer aware of their true balance.

It seems amazing to me that the co-op is the only one that doesn't reflect outgoing debit card transactions but, purports to be high on security to it's customers but, then again doesn't give it's customers tools to be able to be high on security and see early if this happens.

Leaving the security aspect aside, the co-op is trailing behind in the dark ages with this as most other banks do include pending debit card transactions and telephone banking are in the dark and actively telling it's customers that not doing so is in line with the majority of other banks :rolleyes:

Simply not the case :eek:

bubblesbonbon

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.

My Co-op Debit Card also doubles as a £100 cheque guarantee card and I assumed that is why the account details are on it.