Online Banking.....

mickc22

mickc22

Granddad!
..this sounds pretty cool
my bank (Co-op) is gonna be sending us a card reader,
they\'re still sorting the details, but basically you\'ll need to put your card in the reader, to access any banking details, balances, make payments, whatever
I\'m assuming it\'s just when logging onto their website, don\'t know if it\'s for making online payments to third parties as well tho

Any other banks doing the same
 
QuietiManes

QuietiManes

New member
I don\'t understand the logic of these devices. All they do is send ANOTHER electronic signal to verify the users identity. If you want extra security why don\'t they just have more passwords you need to enter? Set it up so you have to input 3 or 4 or 23 seperate and unique passwords of a substantial number of characters to make it secure? You know...and save the expense of sending every user a card reader.

They have security keys for online games too. I just don\'t get it, it\'s not like some computer wiz can\'t crack the second set of security protocols. I know someone will say they won\'t but they will, eventually, when it becomes profitable or just fun.

Edit: Oh...and I\'ve never heard of these for banks before. Don\'t think they\'ve reached the great white north as of yet.
 
U

Undave

Flockwit
I think the point of these is that you don\'t have to remember 3 or 4 or 23 seperate passwords. I haven\'t used mine in a while but as far as I remember you put your card into the reader and enter your pin. Then you enter a set of numbers given to you by the site and type in the reply that the reader gives you to prove your identity. I would imagine that it\'s far more secure than a set of passwords because a different number is generated each time. This makes it impossible for keystroke bots to pick up anything they can use and unless you have your card and your pin nobody else can authorise money transfers from your account.

The only downside that I can see is that you won\'t be able to do anything if you haven\'t got the reader with you.

I\'m not surprised you haven\'t heard of any of the banks mentioned as they\'re all British.
 
S

ScottRadom

Shogun of Saskatchewan
A great advantage of online banking for me is that I can utilize it at anytime, anyplace with a \'net connection. I would hope to not see this change for some time over here.

It\'s great when travelling, at work, friends place etc.
 
U

Undave

Flockwit
You can still check your balance etc. without using the reader. All it\'s for is to add security when setting up direct debits and money transfers. Stuff you\'d be unlikely to do round your mates house.
 
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ScottRadom

Shogun of Saskatchewan
Originally posted by Undave
You can still check your balance etc. without using the reader. All it\'s for is to add security when setting up direct debits and money transfers. Stuff you\'d be unlikely to do round your mates house.
Click to expand...

Poker! It happens.
 
freakinacage

freakinacage

Well-known member
Originally posted by Undave
Yeah I got one from NatWest months ago :p

They\'re pretty handy pieces of kit.
Click to expand...

i\'m with natwest. got mine well over a year ago. haven\'t used it yet and am not sure where it is even!

up until yesterday i have found natwest\'s online banking to be brilliant but i changed my password and it won\'t accept the new one on the secpay page. ack

halifax, don\'t get me started, i never could remember the password and every time i ask for a reminder i get an annoying \'oops - this service isn\'t available\' notice. doesn\'t help me get my fecking money does it?!
 
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