Bank's new security issues

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Bank's new security issues

Postby nameless » Fri Nov 13, 2009 11:23 am

My bank has just decided to introduce a new security method for online banking whereby they send an authorisation code to your mobile phone. I am not a great mobile user and my phone is several years old. I don't even know if it will take text messages. I would like to air with you some thoughts that have come to my mind.

From their blurb, they say it is mandatory in order to complete payment transactions online.

In their terms and conditions they say, amongst other things:

"In requesting to use this Service you agree that you will notify us as soon as possible should any of the following occur by telephoning 0845 ... etc. should any of the following occur:
• your registered mobile telephone number changes.
• your contract with your mobile device network operator ends.
• you suspect that someone else knows your Personal Security Details."


This seems more like big brother than protection against 'fraud'.

"In requesting to use this Service you agree that you will notify your mobile device network if your registered mobile telephone is lost, stolen or no longer under your control."

Is it mandatory or am I required to 'request' the service, which implies I do not have to.

"You must register your mobile telephone device with us to enable our SMS Security Service on your account(s). The registered mobile device must be able to receive text messages."

Does must mean may?


" If you need to contact us to discuss using our SMS Security Service or you wish to cancel this Service you may do so by telephoning 0845 ...."

If I wish to cancel this Service, does that mean I don't have to register for it in the first place?

At the end of their T&C there is provision to either agree or disagree.

These are the first terms and conditions I have scrutinised since my awakening, and before I write to them (I refuse to use 0845, and I can't find an email contact facility), I thought I would run this by the forum.
“Whoever may be guilty of abuse of power, be it Government, State, Employer, Trade Union or whoever, the law must provide a speedy remedy. Otherwise the victims will find their own remedy."

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Re: Bank's new security issues

Postby BaldBeardyDude » Fri Nov 13, 2009 11:43 am

Well, from what I read, they say it is mandatory for online payments - if you do not wish to make any, refuse the service.

Again, the logic is convoluted, but if they provide a telephone number to cancel this, how can it then be said to be mandatory?

Huntingross has recently refused his banks new T's & C's, so you may want to give that thread a look-see?

I think your logic is sound and that you can refuse this 'service'.
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Re: Bank's new security issues

Postby jonboy » Fri Nov 13, 2009 11:47 am

Just tell them you haven't got a mobile.
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Re: Bank's new security issues

Postby BaldBeardyDude » Fri Nov 13, 2009 11:55 am

jonboy wrote:Just tell them you haven't got a mobile.
Occams Razor strikes again :rotfl: :rotfl: - nice one JB :clap: :clap:

AND you have NO INTENTION of getting one, either! :mrgreen:
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Re: Bank's new security issues

Postby nameless » Fri Nov 13, 2009 12:16 pm

I liked that option, but is it OK for us to lie?
“Whoever may be guilty of abuse of power, be it Government, State, Employer, Trade Union or whoever, the law must provide a speedy remedy. Otherwise the victims will find their own remedy."

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Re: Bank's new security issues

Postby BaldBeardyDude » Fri Nov 13, 2009 12:31 pm

nameless wrote:I liked that option, but is it OK for us to lie?


No, I don't believe it is in the ideal world. As freemen, we declare that we act in honour, so in this instance, if you preferred to do so, you could write to the bank and flat out refuse the new terms and conditions.

The simplest solution is Jonboys - You do not have a mobile phone.

The honourable way, would be to inform the bank that you will not be using this service, so will not accept it.

Either way, or another way, is your choice. :mrgreen: Me, I'd tell em to sod off!
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Re: Bank's new security issues

Postby Jim » Fri Nov 13, 2009 12:44 pm

Mobile phone network operators are falling over themselves to give away free pay-as-you-go SIMs. A quick Google search for "free SIM" returns 97,000,000 results! Just get a free SIM, register with your bank, get your authorisation code, then throw the SIM in the bin and tell the bank you've lost "your mobile device." Just be careful you don't unwittingly enter into any contracts when you get the free SIM. Some of them claim to be "pay-as-you-go" but they want you to set up a direct debit (erm, isn't that a contract?) to get your thousands of free texts and minutes every month that you won't use anyway unless you're a hyperactive 14-year old girl.

Peace

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Re: Bank's new security issues

Postby nameless » Fri Nov 13, 2009 12:52 pm

Trouble is, for my security measures, I have just transferred 'money' into this account from another account. The very next day they came up with their 'security' measures. If I don't agree to their terms, I may not be able to access my 'money'. I do all my banking on line. I also think it is wrong for them not to give an email address. They want you to phone if you are an existing customer. Looks like it will be snail mail, but I know from experience that if they don't want to respond, they don't.
Last edited by nameless on Fri Nov 13, 2009 3:57 pm, edited 1 time in total.
“Whoever may be guilty of abuse of power, be it Government, State, Employer, Trade Union or whoever, the law must provide a speedy remedy. Otherwise the victims will find their own remedy."

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Re: Bank's new security issues

Postby kevin » Fri Nov 13, 2009 1:05 pm

they're just desperate for contact numbers so as soon as your two minutes late with a payment they can phone you where ever you are, they're not having my number!
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Re: Bank's new security issues

Postby gepisar » Fri Nov 13, 2009 1:08 pm

nameless wrote:I liked that option, but is it OK for us to lie?


Even better, agree to their terms and ask them when they will be sending you your new mobile phone...
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