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Many of the “big traditional banks” used to have this idiotic rule of not using more than 10-12 characters in your account password for many many years, many st
by usaphp 8y ago
Many of the “big traditional banks” used to have this idiotic rule of not using more than 10-12 characters in your account password for many many years, many still do now. So I would not be so judgeful on the new app-only banks.
- dogma1138 8y agoEU banks issue security tokens which are used for login and to authorize every transaction.
- seszett 8y agoSome of the banks of some EU countries* Most French banks don't do that, for example.
- dogma1138 8y agoFrench banks don’t use TAN codes? Isn’t it an EU directive at this point? It doesn’t have have to be a dedicated hardware token or a chip TAN, mTAN or soft tokens are also acceptable.
- seszett 8y agoUnless a 6-digit "password" that you choose and stays the same for as long as you wish counts as a soft token, no they don't. Well, most don't, although some do.
- dogma1138 8y agoHow do they offer SEPA transactions without TAN codes?
- seszett 8y agoI don't actually know what are the TAN codes you are talking about, I guess, if they're some technical implementation detail I sure don't know about it. For a SEPA transfer, you input the code of the account you want to transfer money to, then the amount and various optional messages and transactions codes if you want, then click "submit" and it's done.
- dogma1138 8y agoThese are the transaction authentication numbers which are unique for each new transaction: https://en.m.wikipedia.org/wiki/Transaction_authentication_number https://en.m.wikipedia.org/wiki/Transaction_authentication_n... For me in the UK to move money I need to generate a TAN using a SecureID token the TAN is generated by using the secret in the token and digits of the account number I need to transfer money too. The same SecureID also generates OTP for 2FA login. But there are other TAN schemes including pregenerated lists and TANs sent over SMS or TANs which are generated by using the smartcard in your debit card.
- kmmlng 8y agoNot French, but German here. TANs are obviously used for transactions, but I've never seen them used for login purposes. To add insult to injury, the _only_ permissible password length for my bank was 5 (five!) characters. Looking to make a switch right now..
- Semaphor 8y agoFor the longest time, my old bank limited my password to 4 (!!) characters…