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Any idea what the keypad device is called? Are you expected to carry it with you at all times? Is that feasible? Is there some sort of threshold for its use?

Any idea what the keypad device is called? Are you expected to carry it with you at all times? Is that feasible? Is there some sort of threshold for its use? For example, transactions under $X, even if fraudulent, might not be worth the inconvenience to the customer of having to go through the extra steps. If you don’t mind my asking, is your banking institution geared towards HNW clients? The amount verification sounds very similar to what most banks in the US do for inter-bank transactions but I’ve never heard of something like that implemented on a bank account from the consumer’s side.

tialaramex 7y ago
The device claims to be a "Vasco DigiPass". It has lots of other identifying marks but those might be secret (even if they weren't supposed to be, disclosing them might inadvertently reveal a secret) I am not required to carry it, but my understanding is that most features of my online banking don't work if I tell the system I don't have it with me. I store it with other valuable identity items like my birth certificate in my home, I do not take it with me when I travel. This bank offers excellent 24/7 phone service, if I was away from home I would call them if I needed anything. All conceivable transactions can be concluded by phone, indeed I've mentioned to HN before that it turns out very high value financial transactions (literally buying a home in my case) can't be done online at all. The web site just tells me to call them instead to complete the transaction. The institution is not especially geared to High Net Worth individuals, but it doesn't offer any products geared to people focused on being thrifty/ economical. It doesn't offer zero fee current account banking, it doesn't pay great interest on savings, it doesn't have "cash back" features on credit cards, it's just a very well run bank. If I needed £10 more than I need a bank I can rely on, I would leave.

tialaramex 7y ago

The device claims to be a "Vasco DigiPass". It has lots of other identifying marks but those might be secret (even if they weren't supposed to be, disclosing them might inadvertently reveal a secret) I am not required to carry it, but my understanding is that most features of my online banking don't work if I tell the system I don't have it with me. I store it with other valuable identity items like my birth certificate in my home, I do not take it with me when I travel. This bank offers excellent 24/7 phone service, if I was away from home I would call them if I needed anything. All conceivable transactions can be concluded by phone, indeed I've mentioned to HN before that it turns out very high value financial transactions (literally buying a home in my case) can't be done online at all. The web site just tells me to call them instead to complete the transaction. The institution is not especially geared to High Net Worth individuals, but it doesn't offer any products geared to people focused on being thrifty/ economical. It doesn't offer zero fee current account banking, it doesn't pay great interest on savings, it doesn't have "cash back" features on credit cards, it's just a very well run bank. If I needed £10 more than I need a bank I can rely on, I would leave.