4 ms·

What kind of transactions require this? Normal bank transactions don't, right?

• jojobas 1y ago
  Transfer of more than a set amount between even your own accounts in different banks.
  • koolala 1y ago
    Between your own accounts is the main use-case because you typically can't transfer between different banks.
    • lmm 1y ago
      > you typically can't transfer between different banks WTF? What kind of shitty banking system are you using?
      • koolala 1y ago
        Wells Fargo said to do it I had to use Zelle.
        • lmm 1y ago
          Wow. You guys really need better banking regulation.
        • immibis 1y ago
          AFAIK Zelle is something US banks got together and set up on their own because the government didn't. So a Zelle transfer is the US equivalent of a SEPA transfer.
• brewdad 1y ago
  My brokerages require it every time I login from a computer. My bank will require it if it can't find a cookie from a previous login session. Occasionally, my bank will require it seemingly randomly since I usually log in at least once a week from my laptop yet every couple of months or so I have to reconfirm on the app or another secondary method.
  • koolala 1y ago
    What are the other secondary methods?
• lmm 1y ago
  Depends on the bank's policies. Currently it tends to be when you transfer to a new destination and/or above a certain amount. I could certainly imagine a bank requiring it for every PC-initiated transaction as and when they reach a point where most normie customers are using their app.
  • koolala 1y ago
    "Every PC-initiated transaction" doesn't make sense to me. What type are transactions are you talking about?
    • lmm 1y ago
      > What type are transactions are you talking about? Bank transfers and I guess direct debit authorisations (if your bank requires you to confirm those) and reauthorisation/confirmation of card payments that were blocked by the bank's fraud detection. I think those are the only kinds of transactions one would ever use a PC for? I mean for me most of my day-to-day transactions are me paying by debit card in a shop, but you can't do that on a PC in the first place; pretty much everything else I do on my PC.
      • koolala 1y ago
        Do you have to authorize those day-to-day transactions with your debit card on your phone every time?
        • lmm 1y ago
          No. Only to unblock when they get blocked/flagged as fraud (tends to happen for large transactions like plane tickets or buying a bunch of furniture), and even then I currently have the option of authorizing via the web browser (and I think also via phone call). But sending a bank transfer is also a fairly common day-to-day transaction that I do a couple of times a month (and is the only way to pay for some government services like tax certificates short of visiting the tax office in person). Authorising a new direct debit happens occasionally (joined a gym, changed my utility provider, got a new credit card, that kind of thing).
• degamad 1y ago
  Fraud prevention on my primary transaction account requires 2FA for every transfer. The only supported 2FA is the bank's own dedicated 2FA app.
  • koolala 1y ago
    So if you buy something on Amazon with your debit card you have to authorize it?