Am I The Only Person Who Doesn't Use Open Banking and Doesn't Want To Download Banking Apps?

123457»

Comments

  • JuicyJesus
    JuicyJesus Posts: 3,830 Forumite
    First Anniversary Combo Breaker First Post
    blue.peter wrote: »
    *I moved to RBS in late June of this year, when they offered a £125 sweetener for joining, and a further £50 for staying a year. The experience that I've had with them has not been a happy one. There's been nothing that justifies a complaint, but a stream of minor irritations. The cumulative effect of these has left a feeling of dissatisfaction, hence my intention to leave them.

    Funny enough that was my experience with (the identical) NatWest. They didn't screw anything up particularly but they were still not great and annoyed me mildly.
    urs sinserly,
    ~~joosy jeezus~~
  • keef-WhatStandards
    keef-WhatStandards Posts: 286 Forumite
    First Anniversary Name Dropper First Post
    Nope.

    I have no use for or interest in open banking.

    Apps, well I do have a look at them, but only use two which provide the means to scan and deposit cheques into my account. Most seem to offer cut down versions of the https site. I just downloaded, installed and ran Santander's one. No cheque scanning or messenger service, so cleared the space for something more useful. ;)
    Keef - Sheerness, Kent UK
  • Robisere
    Robisere Posts: 3,237 Forumite
    First Anniversary Photogenic First Post Combo Breaker
    I don't want OB, but I have 2 accounts with 2 different banks. I have both apps on my phone and I find them very useful. I check them daily, which takes very little time, to keep a check on both accounts. Messages from either bank, or any potential problems, are followed up on the PC. Wife doesn't want apps on her phone (identical model) but these are joint accounts, so she just accesses Internet Banking on her laptop. Both PC's are well protected.

    I find it a little amusing that an iphone can be bypassed, whereas an android phone is either much more difficult, or impossible.
    I think this job really needs
    a much bigger hammer.
  • IvanDP
    IvanDP Posts: 231 Forumite
    First Anniversary First Post
    Same here, absolutely no interest in open banking.
    I do however have 9 different banking apps on my phone, all of which are used regularly.
    (Admittedly though, that's because all my banking except Nationwide and Nat West are app only banks)

    As others have said, with fingerprint log in, it's just so much quicker than the online alternative.
  • toib
    toib Posts: 6 Forumite
    First Anniversary
    Open banking is much more secure than traditional etransactions.

    When a payment is made via openbanking the consent that you give is only for that transaction to that vendor/person, it cannot be used multiple times, even if someone had hacked your computer/phone there is very little they can do with the consent.

    If you authenticate with your phone via some biometric method then an attacker wouldn't be able to steal your login credentials. Coupled with SCA via one time passwords or further biometric authentication this makes it one of the most secure methods to make an etransaction.

    I'd hazard a guess that a lot of people who say they don't trust open banking would happily provide card/personal details to a website to make a payment.

    Unfortunately there has been limited marketing/uptake of open banking payments so far. I'd encourage anyone with doubts to do some more research and give it a go, it's a much easier experience than entering card details.

    For full disclosure I work as a software developer in financial services and I have developed applications for third party providers and open banking services for a financial institution.
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    It seems several posters on here are confusing mobile banking apps with Open Banking.

    Literally all banks, and some Building Societies, do have mobile apps for their customers to manage their current accounts, credit card accounts, and in some cases, savings accounts. These apps do not require Open Banking.

    Open Banking provides the opportunity for banks and other, non-bank, organisations to provide apps and/or web functionality which pulls together information from several, unrelated, banks and Building Societies. Here is the official blurb: https://www.openbanking.org.uk/customers/what-is-open-banking/
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Willing2Learn wrote: »
    I'm just scared to have open banking. And I would be scared to have a multitude of banking apps on my phone. It could be a security nightmare if the mobile got stolen or was lost...And I'm assuming that with open banking, you only require one password to access all your accounts. What if the password was compromised for any reason? Maybe I am just paranoid though...

    Blacklisting a lost handset (a service all network providers offer) easily stops anyone else getting the data.
  • Takmon
    Takmon Posts: 1,738 Forumite
    First Anniversary Name Dropper First Post
    Anthonyuk95 wrote: »
    Blacklisting a lost handset (a service all network providers offer) easily stops anyone else getting the data.

    Blacklisting the IMEI number only stop the device from connecting to any mobile phone network. It does not delete or prevent access to any data.

    But all modern phones offer the ability to remotely wipe the device which should be used if it gets lost.
  • DragonQ
    DragonQ Posts: 2,193 Forumite
    First Anniversary First Post
    I don't want to use apps but now it seems there is less choice about that. It's far easier to login to First Direct via the app than it is to do so via online banking (since you need to use the app to generate a passcode anyway).


    TSB's app is actually rather nice and I find it useful because that's where all of my bills come from and salary goes into (essentially my "actual" current account). For all other banks I just use online banking.
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    DragonQ wrote: »
    I don't want to use apps but now it seems there is less choice about that.
    Why don't you want to use apps, and why do you feel you have less choice? I feel I have more choice now, and I find some of the new options so much more easy than the old ones. For example, I used to need a physical gadget for FD, a different gadget for M&S, and yet another one for HSBC. Not to talk about the different gadgets for other banks - such as the keypad for Yorkshire Bank, and the card readers for Nationwide and some other banks. Firstly, I needed to have all those gadgets in a secure place, usually in the house, and secondly, using banking away from home (at work, on holidays, in hospital, in emergencies etc) was literally impossible before the age of apps.
    DragonQ wrote: »
    It's far easier to login to First Direct via the app than it is to do so via online banking (since you need to use the app to generate a passcode anyway).
    With FD, you can still use the physical secure key and use internet banking, if you prefer. You are of course correct, it is far easier to use the app, at least for the secure key ;)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards