Two-fold authentication for online banking
Discussion
Is driving me f
king mad!
Do they seriously expect me to carry a fking pocket calculator straight from the 80's around on the off chance that I need to do something online?
I didn't ask for this and they tell me there is no opt out available as it's being forced by FSA regs? Has anyone managed to get out of having to use one?
Poor rant I know. Had to get it off the chest though!
king mad! Do they seriously expect me to carry a f
king pocket calculator straight from the 80's around on the off chance that I need to do something online?I didn't ask for this and they tell me there is no opt out available as it's being forced by FSA regs? Has anyone managed to get out of having to use one?
Poor rant I know. Had to get it off the chest though!
I don't see what the problem is. I have this (with NatWest) and it's only required when adding a new payment recipient. You don't need it for doing stuff like transferring between your own accounts, paying your credit card, making a payment to someone who is already on your list of payees...
I've had to use it perhaps twice in the last 3 years. I'd hardly call that an inconvenience when you bear in mind the extra security that it provides.
You were right about one thing though - poor rant
I've had to use it perhaps twice in the last 3 years. I'd hardly call that an inconvenience when you bear in mind the extra security that it provides.
You were right about one thing though - poor rant
Dupont666 said:
explain 2 fold authentication and why a calculator, im confused?
So first of all you log in to on-line banking successfully.Then if you try and transfer money from your account to someone else's the system asks for confirmation of your ID a second time in a different way.
The banking website gives you a number. You put your bank card into a little device they give you that looks like a pocket calculator but has a slot for your card. You type in the number they gave you and your PIN. It gives you back another number that you type into the website.
By doing this they know that:
1) You have the bank card
2) You knew its PIN
before they take your money and give it to someone else.
moosepig said:
I don't see what the problem is. I have this (with NatWest) and it's only required when adding a new payment recipient. You don't need it for doing stuff like transferring between your own accounts, paying your credit card, making a payment to someone who is already on your list of payees...
I've had to use it perhaps twice in the last 3 years. I'd hardly call that an inconvenience when you bear in mind the extra security that it provides.
You were right about one thing though - poor rant
Barclays version requires the calculator to even log into your online banking.I've had to use it perhaps twice in the last 3 years. I'd hardly call that an inconvenience when you bear in mind the extra security that it provides.
You were right about one thing though - poor rant
Don said:
Dupont666 said:
explain 2 fold authentication and why a calculator, im confused?
So first of all you log in to on-line banking successfully.Then if you try and transfer money from your account to someone else's the system asks for confirmation of your ID a second time in a different way.
The banking website gives you a number. You put your bank card into a little device they give you that looks like a pocket calculator but has a slot for your card. You type in the number they gave you and your PIN. It gives you back another number that you type into the website.
By doing this they know that:
1) You have the bank card
2) You knew its PIN
before they take your money and give it to someone else.
I ring up, talk to a human being (always UK based thanks to my card), say I want a bill payment to be made, tell them the other account details and the subject matter that will appear on mine/their statement...
10 seconds of them telling me what i said... its done.
Why not use that?
Neil_H said:
Yes I'm with Barclays, it's irritating and obviously done for morons whose PCS are riddled with spyware and who get suckered by spam emails asking them to send their passwords.
For Barclays all you need to do is take a list of a few 'passcodes' with you for use when you're away from the device. This is an 8 digit number you generate - just generate some and write them down. There does not appear to be a timestamp in the checksum.Dupont666 said:
Don said:
Dupont666 said:
explain 2 fold authentication and why a calculator, im confused?
So first of all you log in to on-line banking successfully.Then if you try and transfer money from your account to someone else's the system asks for confirmation of your ID a second time in a different way.
The banking website gives you a number. You put your bank card into a little device they give you that looks like a pocket calculator but has a slot for your card. You type in the number they gave you and your PIN. It gives you back another number that you type into the website.
By doing this they know that:
1) You have the bank card
2) You knew its PIN
before they take your money and give it to someone else.
I ring up, talk to a human being (always UK based thanks to my card), say I want a bill payment to be made, tell them the other account details and the subject matter that will appear on mine/their statement...
10 seconds of them telling me what i said... its done.
Why not use that?
Famous Graham said:
fivesixseven8 said:
it's being forced by FSA regs?
I call bs on that one. My First Direct account never needed it (used it up until about a year ago) and my current Nationwide one doesn't either.
My nationwide one has needed one for the last 18 months! Both times I've needed to use it I've not had the card reader with me so I just cleared the account
Davi said:
Famous Graham said:
fivesixseven8 said:
it's being forced by FSA regs?
I call bs on that one. My First Direct account never needed it (used it up until about a year ago) and my current Nationwide one doesn't either.My nationwide one has needed one for the last 18 months! Both times I've needed to use it I've not had the card reader with me so I just cleared the account
It asks me for my customer number, an item of "secret data" (some made up word or number or whatever that I set when I started online banking) and 3 of the digits from a 6 digit number generated at the same time.Only opened the account last October.
Famous Graham said:
Davi said:
Famous Graham said:
fivesixseven8 said:
it's being forced by FSA regs?
I call bs on that one. My First Direct account never needed it (used it up until about a year ago) and my current Nationwide one doesn't either.My nationwide one has needed one for the last 18 months! Both times I've needed to use it I've not had the card reader with me so I just cleared the account
It asks me for my customer number, an item of "secret data" (some made up word or number or whatever that I set when I started online banking) and 3 of the digits from a 6 digit number generated at the same time.Only opened the account last October.
Dupont666 said:
Don said:
Dupont666 said:
explain 2 fold authentication and why a calculator, im confused?
So first of all you log in to on-line banking successfully.Then if you try and transfer money from your account to someone else's the system asks for confirmation of your ID a second time in a different way.
The banking website gives you a number. You put your bank card into a little device they give you that looks like a pocket calculator but has a slot for your card. You type in the number they gave you and your PIN. It gives you back another number that you type into the website.
By doing this they know that:
1) You have the bank card
2) You knew its PIN
before they take your money and give it to someone else.
I ring up, talk to a human being (always UK based thanks to my card), say I want a bill payment to be made, tell them the other account details and the subject matter that will appear on mine/their statement...
10 seconds of them telling me what i said... its done.
Why not use that?
Which is where you talk to a human being who types stuff into a computer.
Instead of typing stuff into a computer yourself. And in my case - more accurately and faster.
Davi said:
Famous Graham said:
Davi said:
Famous Graham said:
fivesixseven8 said:
it's being forced by FSA regs?
I call bs on that one. My First Direct account never needed it (used it up until about a year ago) and my current Nationwide one doesn't either.My nationwide one has needed one for the last 18 months! Both times I've needed to use it I've not had the card reader with me so I just cleared the account
It asks me for my customer number, an item of "secret data" (some made up word or number or whatever that I set when I started online banking) and 3 of the digits from a 6 digit number generated at the same time.Only opened the account last October.
moosepig said:
I don't see what the problem is. I have this (with NatWest) and it's only required when adding a new payment recipient. You don't need it for doing stuff like transferring between your own accounts, paying your credit card, making a payment to someone who is already on your list of payees...
I've had to use it perhaps twice in the last 3 years. I'd hardly call that an inconvenience when you bear in mind the extra security that it provides.
You were right about one thing though - poor rant
If Natwest only want it to setup new transfers then that is a much better implementation than my bank have gone with.I've had to use it perhaps twice in the last 3 years. I'd hardly call that an inconvenience when you bear in mind the extra security that it provides.
You were right about one thing though - poor rant
For those people who either don't have to use one, or only have to use it for setting up new payments/transfers; Can I ask you to let me know what bank you use as I am tempted to switch.
Targarama said:
Neil_H said:
Yes I'm with Barclays, it's irritating and obviously done for morons whose PCS are riddled with spyware and who get suckered by spam emails asking them to send their passwords.
For Barclays all you need to do is take a list of a few 'passcodes' with you for use when you're away from the device. This is an 8 digit number you generate - just generate some and write them down. There does not appear to be a timestamp in the checksum.Gassing Station | The Lounge | Top of Page | What's New | My Stuff