Lloyds TSB new Internet banking bloomin system!

[SmokinV8]

Anyone else getting fed up with the new banking system that Lloyds have introduced for business that consisits of the need to use a random code generator having to input various pin numbers then account and amount details before you can pay a bill online?

Its driving me up the wall!

[ben_h100]

Does it use a card reader that generates a random number? Just received mine from natwest.

If it helps with security then I'm all for it..!

[uk_vette]

With the Natwest one, is it the same as the one for Co Op bank?
or do I need to have both of them, or more ?

;vette

[bogie]

sign of the times im afraid...more security to come

...guess its better than losing billions in fraud everyear ..

[SmokinV8]

ben_h100 said:

Does it use a card reader that generates a random number? Just received mine from natwest.

If it helps with security then I'm all for it..!

Yes thats the one.

To make a payment-

Click onto bank web site.

Enter user ID number.

Enter Password.

Get new card reader out.

Get new card out and place in reader.

Press Identify and enter new PIN.

Then enter onto web the randomly generated numbers that the reader generates.

Click onto Bank account.

Click onto Transfer funds.

Click onto the recipient account details.

Enter the amount to transfer.

Enter the date to transfer.

Put card in reader again.

Press Sign on reader and enter PIN

Then enter recipients account number into reader.

Then enter amount to transfer into reader.

Then it generates another randon number to be input into bank web site.

And viola..

You have managed to pay 1 recipient only and have to go through all this st again for all the others!

Who the hell thought this system was a winner?!!

I'l be off to another bank or write a bloody cheque!

[ben_h100]

I think it's quite a good way of doing things personally. Even if it means it's a bit more time consuming. As long as the banks don't start charging for these card readers...

[GuinnessMK]

Sounds like the same system we have from Barclays.

[smartie]

SmokinV8 said:

ben_h100 said:

Does it use a card reader that generates a random number? Just received mine from natwest.

If it helps with security then I'm all for it..!

Yes thats the one.

To make a payment-

Click onto bank web site.

Enter user ID number.

Enter Password.

Get new card reader out.

Get new card out and place in reader.

Press Identify and enter new PIN.

Then enter onto web the randomly generated numbers that the reader generates.

Click onto Bank account.

Click onto Transfer funds.

Click onto the recipient account details.

Enter the amount to transfer.

Enter the date to transfer.

Put card in reader again.

Press Sign on reader and enter PIN

Then enter recipients account number into reader.

Then enter amount to transfer into reader.

Then it generates another randon number to be input into bank web site.

And viola..

You have managed to pay 1 recipient only and have to go through all this st again for all the others!

Who the hell thought this system was a winner?!!

I'l be off to another bank or write a bloody cheque!

I have exactly the same system, however, as I use a 3 dongle for internet access it somethimes throws me out of the system as the final step back to the login stage!! What fun!

[ringram]

stander system is easier, just sends a txt to your mobile.
Even though I hate them

[CobolMan]

Many banks are using this Two Factor Authentication system for online banking. It'll be fun when the batteries start running out after 5 years and the customer will have to order a new one (and I doubt they'll be free).

[2 sMoKiN bArReLs]

It'd be fair dinkum if you used the device to get in, then payments as old. New system is trully ares.

[tonym911]

CobolMan said:

Many banks are using this Two Factor Authentication system for online banking. It'll be fun when the batteries start running out after 5 years and the customer will have to order a new one (and I doubt they'll be free).

I suppose the way to find that out now rather than in 5 years' time would be to lose the reader (I'm with Lloyds too!) and try to get a replacement. You could argue that the reader is not part of your Business account contract (yet) and demand a freebie.

[CobolMan]

tonym911 said:

CobolMan said:

Many banks are using this Two Factor Authentication system for online banking. It'll be fun when the batteries start running out after 5 years and the customer will have to order a new one (and I doubt they'll be free).

I suppose the way to find that out now rather than in 5 years' time would be to lose the reader (I'm with Lloyds too!) and try to get a replacement. You could argue that the reader is not part of your Business account contract (yet) and demand a freebie.

I know people who have done that with a different bank but do it too often and it WILL get flagged up and you WILL get charged.

[ben_h100]

How does it work exactly? Does it use data off the chip or RFID?

[CobolMan]

I know but it's not something I would discuss outside of work.

[smartie]

i guess its something to do with the time and date as the random number only seems to go up?

[Neil_Sc]

ben_h100 said:

How does it work exactly? Does it use data off the chip or RFID?

http://en.wikipedia.org/wiki/Chip_Authentication_Program

[uk_vette]

ringram said:

stander system is easier, just sends a txt to your mobile.
Even though I hate them

.
.
This is good.

Also the Co Op card reader works for Nat West cards.

'vette

[uk_vette]

ben_h100 said:

How does it work exactly? Does it use data off the chip or RFID?

.
.
Reads the chip.

'vette

[steve singh]

ringram said:

stander system is easier, just sends a txt to your mobile.
Even though I hate them

Could you explain a little bit more about how the santander system works?

Do you still have to type in a code from that card reader thingy?