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Some banks and bank-like products only make themselves available by mobile app. It's a commercial decision, and seems to have been a trend with some "challenge

Some banks and bank-like products only make themselves available by mobile app. It's a commercial decision, and seems to have been a trend with some "challenger" banks. I have two of those, and I chose them because of unique banking features (not the mobile app) not offered by other banks which I found valuable. It's nothing to do with the country. To be honest it would be nice to have web access as well (or even phone banking), but we take what we can get.

kevin_thibedeau 6y ago
It's never safe to bank from a computer you can't control. I would always consider a phone to be compromised. These are the richest targets going for exploits so why risk it.
- jlokier 6y ago
  Although I agree with you, it turns out which banks and similar facilities you use can greatly affect the amount of credit you have access to, how you can use it, and how long the process takes. During this pandemic I've found that to be a big deal, much more important than whatever technology or access method is offered.
berdario 6y ago
I recently opened 3 bank accounts. It's not only the challenger banks: nowadays banks will also encourage you to use their app for 2FA. You can use a proprietary token instead, but you'd have to pay for it (the app instead is free). 2FA sms is not supported with some banks (and that's good). I think the UK is an exception, since for 2 of the banks I had accounts with, they just used a 2nd "memorable" password as "2FA" (avoiding the requirement of a smartphone)
toastal 6y ago
In Thailand the bank I have, Kasikorn, charges for ATM usage outside of the registered province even from the same network... UNLESS you use their cardless withdraw that uses some QR code for TOTP that requires the app (that will attempt to block phones with root access). You can use the website as well for some things, but it requires SMS-based OTP with no supported alternatives. I'd switch banks or at least branches to this new province, but my current visa won't allow it (and for whatever reason, you cannot transfer accounts but need to open a new one).
- swiley 6y ago
  Yeah that's Thailand though. Your king doesn't even let you visit PornHub if he's not in the mood.

kevin_thibedeau 6y ago

It's never safe to bank from a computer you can't control. I would always consider a phone to be compromised. These are the richest targets going for exploits so why risk it.

jlokier 6y ago
Although I agree with you, it turns out which banks and similar facilities you use can greatly affect the amount of credit you have access to, how you can use it, and how long the process takes. During this pandemic I've found that to be a big deal, much more important than whatever technology or access method is offered.

berdario 6y ago

I recently opened 3 bank accounts. It's not only the challenger banks: nowadays banks will also encourage you to use their app for 2FA. You can use a proprietary token instead, but you'd have to pay for it (the app instead is free). 2FA sms is not supported with some banks (and that's good). I think the UK is an exception, since for 2 of the banks I had accounts with, they just used a 2nd "memorable" password as "2FA" (avoiding the requirement of a smartphone)

toastal 6y ago

In Thailand the bank I have, Kasikorn, charges for ATM usage outside of the registered province even from the same network... UNLESS you use their cardless withdraw that uses some QR code for TOTP that requires the app (that will attempt to block phones with root access). You can use the website as well for some things, but it requires SMS-based OTP with no supported alternatives. I'd switch banks or at least branches to this new province, but my current visa won't allow it (and for whatever reason, you cannot transfer accounts but need to open a new one).

swiley 6y ago
Yeah that's Thailand though. Your king doesn't even let you visit PornHub if he's not in the mood.