No. Banks - hopefully - spend a lot of time and effort securing their systems so that side of things should be secure enough (though obviously not impenetrable)

No. Banks - hopefully - spend a lot of time and effort securing their systems so that side of things should be secure enough (though obviously not impenetrable). The weakest link will in fact be the user's PC (e.g. keyloggers) in this case as even a few hundred passwords stolen could get the thieves a pretty significant sum of money. So, this is much more secure than entering the full password each time.