Online banking that does not allow transfers, only statements?
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I do immediately wonder what the procedure for turning that form of protection off again is, since if that is poor my effort would be fruitless. Has anybody reading tried turning this Santander "View Only" feature on and off?
Also, I recall that Santander has previously ended up at the bottom of Which?'s IT security ranking (I have too few posts to link yet, sorry).
I doubt many people use the feature - and Santander's website says it can only be turned off if you call them - which I imagine means passing through their telephone security checks (which you seem willing to do for telephone payments etc.)
As for reports by Which? - apart from the general dubious value of many of their reports - you appear to be referring to a story from 2013 and I am sure much will have changed during that time.2FA is not what I'm enquiring about in this thread, but...
HSBC uses this sort of 2FA hardware key (maybe a different model) though a digital version is also available.
In short, HSBC/First Direct keys work as follows (taken from here):The bank programs the token with a unique encryption key.
The token will generate a series of characters that are derived from the encryption key, current time, and (optionally) other various factors.
Since the bank knows the (unique) encryption key, and all other other factors that the token uses, they can reverse-engineer the input to find out who "owns" that token. If the owner of the token matches the owner of the bank account that is being logged-in to, then the login is authentic.
The code changes about once per minute.
Santander, by contrast, would send you a SMS code to your registered phone number to verify you if you try and do things like set up a new payee (though obviously with view only access you can't do this)0 -
Not been able to find out if you can do it, but you could ask any bank if it is possible to have a current account and disable internet banking completely ie only have phone banking. The only downside is that you won't be able to access it online of course to print off statements - one of your wishes.
the only hit via google was for natwest which says 'if you want to disable internet banking please contact our helpdesk'. Maybe it is allowed at other banks as well?0 -
The Virgin Money Essential account lacks ability to set up transfers, DDs, SOs etc online, but apart from having no overdraft facility is more or less like a 'standard' current account, so it seems to suit your requirements.
I have one, mainly for the contactless MasterCard with no non-sterling fees, but I would not use it as my main account because of this lack of online facility, that you are looking for. It pays 0.75% interest so I don't mind having some money sitting there without a convenient way to transfer it out.Evolution, not revolution0 -
I don't understand why you think phone banking is more secure than online banking?
Online banking is perfectly secure if you use strong passwords, don't open attachments in emails you aren't expecting and keep your OS up to date.0 -
Perhaps to help clarify what I want:
- I want to use an account as a "standard" current account,
- including making direct debit, standing order and faster payments via phone banking,
- and downloading statements listing transactions in machine readable form,
- but with no facility to transfer money or set up direct debits or standing orders (etc.) online.
Perhaps First Direct might be an option. If you don't order the secure key (and you do have to actively request it) then the only access you are meant to get to your account online is to view the balance (and possibly statements - First Direct still send paper statements as default every month). All other dealings can be handled through telephone banking. The added bonus of this with First Direct is that your call is answered by a customer service advisor so you are on to dealing with whatever you want to do straight away (this operates 24/7).0 -
I don't have much choice, so yes. Also in its favour: experts such as Ross Anderson of Cambridge university have reported for many years that there has been a real problem with banks denying responsibility for technical security failings that are (only) theirs to remedy. My guess is they'd have a harder time of that with this setup.I doubt many people use the feature - and Santander's website says it can only be turned off if you call them - which I imagine means passing through their telephone security checks (which you seem willing to do for telephone payments etc.)
https://www.theguardian.com/money/2015/nov/21/safe-internet-banking-cyber-security-online
Yes. Also I place very little faith in Which?'s knowledge in the first place. As I say, computer security in general, and online banking in particular (re security anyway), is a market for lemons.As for reports by Which? - apart from the general dubious value of many of their reports - you appear to be referring to a story from 2013 and I am sure much will have changed during that time.
Sounds like TOTP, which is obsolete technology as far as desktop web browsing goes (superceded by U2F) - except that it doesn't claim to implement the de facto standard Google TOTP protocol. If so, it carries a risk of poor implementation (which is a very common cause of IT security failures).HSBC uses this sort of 2FA hardware key (maybe a different model) though a digital version is also available.
In short, HSBC/First Direct keys work as follows (taken from here):
The code changes about once per minute.
If you're doing *only* phone banking I think SMS notifications, though hardly terribly secure, are probably useful as long as you don't rely on them completely (people re-registering phones in order to commit fraud is a common problem).Santander, by contrast, would send you a SMS code to your registered phone number to verify you if you try and do things like set up a new payee (though obviously with view only access you can't do this)0 -
Because my question is *about* accessing statements online, I would politely suggest that you read the question again (even reading the title should do it?).Not been able to find out if you can do it, but you could ask any bank if it is possible to have a current account and disable internet banking completely ie only have phone banking. The only downside is that you won't be able to access it online of course to print off statements - one of your wishes.
Yes, it is. I don't know any bank that does not, in fact (I'm not saying they don't exist).the only hit via google was for natwest which says 'if you want to disable internet banking please contact our helpdesk'. Maybe it is allowed at other banks as well?0 -
http://www.cl.cam.ac.uk/~rja14/banksec.htmlcamelot1971 wrote: »I don't understand why you think phone banking is more secure than online banking?
Online banking is perfectly secure if you use strong passwords, don't open attachments in emails you aren't expecting and keep your OS up to date.
http://www.daemonology.net/blog/2018-01-17-some-thoughts-on-spectre-and-meltdown.html
As I say, I don't believe at all that phone banking is without risk: the issue is more of 1. banks blaming customers for IT security failings under their control, 2. greater fragility of internet banking at present.0 -
I will find out and report back here.ValiantSon wrote: »Perhaps First Direct might be an option. If you don't order the secure key (and you do have to actively request it) then the only access you are meant to get to your account online is to view the balance (and possibly statements - First Direct still send paper statements as default every month). All other dealings can be handled through telephone banking. The added bonus of this with First Direct is that your call is answered by a customer service advisor so you are on to dealing with whatever you want to do straight away (this operates 24/7).
I would guess they only provide access to balance that way, though. Plus, First Direct, why can't I restrict myself to statements-only with 2FA? I'd rather not have my statements leaked to fraudsters (mostly because that's useful info for the fraudsters).0 -
ValiantSon wrote: »Perhaps First Direct might be an option. If you don't order the secure key (and you do have to actively request it) then the only access you are meant to get to your account online is to view the balance
That's not quite true. You can make payments to existing payees without the secure key, you just can't set up new ones without it. If you've made a faster payment over the phone, it will save the details on your online banking and allow you to make future payments online to the same person/company.
So, it's not quite what the OP is looking for.0
This discussion has been closed.
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