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May I ask what bank you bank with?
by cbhl 14y ago
May I ask what bank you bank with?
- benjiweber 14y agoNatwest do exactly this. They also require two factor authentication for all actual money transactions via a chip-and-pin card reader they ship to all customers. You only authorise one transaction for a specific amount/destination at a time.
- lucaspiller 14y agoAll UK financial institutions I have used do this: Nationwide, Barclay's, Natwest (RBS).
- keithpeter 14y agoWhich is one of the reasons I do not use online banking!
- vidarh 14y agoI don't know your bank, but in my case (Barclays) as mentioned above, I'd think their tellers or credit card authorization would both be a weaker spot for attacks than their online banking. They don't allow you only log in with two characters from your password like that, you also need a passcode or a one time pad generated with a chip and pin reader, and for transfers to accounts you haven't previously transferred money to and indicated you want to save for future use, you also need to enter your pin, amount and target account into the reader to get a code to enter into online banking to do the transfer.
- vidarh 14y agoWell yes, but not as the only security mechanism, as far as I'm aware. Barclays for example allows you to log in with this plus a separate pass code, but you can't do much damage without using a chip and pin reader that will give you an 8 digit one time pad too (alternatively they now let you use a mobile app to generate the one time pads) E.g. you can't do transfers to recipients you haven't specifically saved for future payments, for example, without entering your pin, the account number and amount into your key generator and entering the resulting code into online banking.
- manojlds 14y agoThis was HSBC in Canada. I am not a security expert, and realize that this may not be the right thing, and the implementation might be horrible, but if there is a reason to limit password to 8, this was a good enough reason to do so :)
- starky 14y agoA certain other Canadian bank only allows passwords with a length of 6, no more, no less. This bugs me to no end with how insecure it is. I believe their excuse is because the same password is used for your phone banking password and that one must be 6 characters.