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That's exciting news, though it will take a couple of years until it trickles down to financial institutions. My bank forces me to change passwords every 3 mont
by dessant 7y ago
That's exciting news, though it will take a couple of years until it trickles down to financial institutions. My bank forces me to change passwords every 3 months, and of course they also disable pasting for added security.
We also have a local utility that sends you a 5 letter password upon account creation through email, and that's your password. If you try to change it, they'll send you another 5 letter one.
- antoineMoPa 7y agoBank programmers live at least 5 years in the past.
- elcomet 7y agoI'd say this is because it takes that long to get a feature from design to production, in a bank.
- alexeiz 7y agoBank programmers don't live. They exist.
- killjoywashere 7y agoMilitary programmers live 20 years in the past because the contracting system forces them too. The contracting people live in 1970. The actual flag officers in charge live like it's 1955.
- rimliu 7y agoDepends on the bank. I guess in US banks themselves are 20 years in the past. My bank had this log-in setup, where you have your fixed password but also need to enter a password from your password card. This is being phased out and will not be available from Sep 1st. I myself have been using mobile signature/smart-id (https://www.smart-id.com https://www.smart-id.com) for years now. Other remaining options are using your ID card or passcode generators—like Google Authenticator but a physical device.
- CrowFly 7y agoI have 2 and 3 year CDs in a bunch of banks. (This is a common use case, people open separate accounts because of the FDIC insurance limit in any one bank). I only need to log in again 2 or 3 years after opening the account to either take the money out, or open another CD. Some of these banks expire passwords every 6 months! That's insane. I have calendar reminders set to remind me to log in and generate another password with LastPass.
- Consultant32452 7y agoI can't recommend e-banking enough. Through Fidelity you can purchase CDs from a number of banks across the country, shopping for the best interest rates. And you can create an auto-rolling CD ladder if that's your thing. I presume other e-banks like Schwab have similar features. Then you can manage all these things in one place, while getting the benefit of having your funds FDIC insured because they're technically CDs at multiple banks behind the scenes.
- SilasX 7y agoI would think money market mutual funds are a more liquid, easier, higher yielding version of that. They don’t have the FDIC insurance, but they’re well diversified and invest in the highest grade of bonds, and “breaking the buck” (holding less than enough to redeem all deposits) is extremely rare.
- fastaguy88 7y agoFrom 2008 - ???, money market accounts were offering 0% interest, while CD's provided some small rate of return.
- extra88 7y ago*A common use-case for millionaires. FDIC limits are $250,000 per-institution, per-account owner, per-account type (CD, money market, savings, checking) and my understanding is joint accounts are considered separate owners so two spouses could have up to $750,000 in CDs at a single bank and be fully insured.
- pwg 7y ago> and of course they also disable pasting for added security. With Firefox, you can set this about:config setting to false to give you back the ability to paste, even when sites try to block it: dom.event.clipboardevents.enabled
- silverwind 7y agoDisabling clipboard events will break certain helpful paste mechanisms too, for example pasting images to upload.
- donatzsky 7y agoThere's an extension called Don't Fuck With Paste, which is a better solution.
- x3ro 7y agoCan you explain why this is better than changing the configuration?
- idle_zealot 7y agoPresumably because the config option disables all access to paste events and this access is sometimes desirable.
- aitchnyu 7y agoI had to disable that extension for Facebook and MS teams or weird state happens. I would paste text, undo it all and still have text left over.
- MaxGabriel 7y agoIf you're in need of business banking, you can use mercury.co (my company) and enjoy unlimited length, non-paste-breaking, password manager compatible, no expiration, no character restriction passwords + non-SMS based 2FA :) Hopefully we have five years before competitors catch up to us and implement this cutting edge technology!
- cortesoft 7y agoPCI certification requires passwords to be rotated every 90 days.
- xioxox 7y agoGerman banks also like their 5 character passwords! Fortunately you also need a per-transaction TAN code which makes this a bit better (though many people have this on paper or via an SMS, though perhaps paper is not that bad).