My banks haven't mentioned this so far, has any one else's? It's about new rules that require a final text with a code when you are at the checkout stage for online purchases? https://www.dailymail.co.uk/money/n...n-shoppers-need-security-code-buy-online.html
Had a mail from my Bank today checking if my contact info was correct (email & phone) as they were doing away with the card reader security (Smile Bank: Cooperative). Didn't really think much about it as it said if ok then no further action needed.
HSBC Business Internet Banking emailed me about this recently, going to two factor authentication, possibly as well as security device, about time they did something to stop the scammers.
i received one of these Pin devices in the post a few days ago, the strange thing is that they are not there to protect you and me, rather strengthen the opposition to a claim when money is taken from your account. not a fan to be honest..
I have accounts at Lloyds & Halifax (same parent company). Both have written a few times about this "new authentification process" during the past two months, but I havent actually had to do anything different as yet. Though I mostly use Paypal paid from a debit card online so that might be why.
Banks are doing this for their benefit , not ours . Across the whole banking industry there is a drive to get away from small local branches and all the expense and overheads that goes with it . Same story with the push towards internet banking and paper-less statements In nearly all cases , banks are obliged to refund losses from fraudulent transactions anyway . Their claims that this extra security ( ie. additional hassle ) benefits the customer are bogus . It benefits them and only them .
A cashless society is favoured by authoritarian governments as it provides for overview of citizen spending habits and, conceivably, control over such. A speculative Dystopian Future: "Your credit rating has been temporarily suspended pending an investigation into complaints over your social media posting history." We're slowly getting there!
Nothing speculative about it ...... it's already happening . Social credit rating in action :- Exposing China's Digital Dystopian Dictatorship Well worth watching .
My bank in Nigeria emailed me and asked a few details, not sure why they needed the full card & pin number but I'm sure they're looking after me well
My Nigerian Bank runs a special 10-Year Bond. I can't touch my money in that time but when it matures - quids-in mate.
They're bloody good, I regularly get offers of millions from a dearly departed long lost relative, i take them all
That would be great thanks. In the spirit of the the forum perhaps just put them here for everyone to benefit from
Online purchase checks will also make it easier for HMRC to decide if you are earning an income from your frequent buying and selling, and tax you accordingly. I’m off to a festival next week, apparently they’ve gone cashless this year... now my bank manager will know how much booze I can put away! Good isn’t it.
Not a great source admitted but I couldn't find another mentioning it, so asked any members if they were aware of it?
