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Oh dear! Another gadget to cope with
Posted: Sat Sep 22, 2007 10:39 am
by Primrose
My bank has just sent me little machine, into which I must put my debit card to generate a random pin number before I can access my internet bank account. And what a complicated instruction booklet accompanied it! Knowing my computer illiteracy I will probably never be able to get at my money again !! I'm beginning to think Granny had the right idea when she kept her money in an biscuit tin in her larder ! Has anybody else been sent one of these?
Posted: Sat Sep 22, 2007 10:42 am
by Chantal
Hi Primrose
I've never heard of that before for personal banking.
We did have one at work that we had to use before doing a direct debit run and that was very complicated.
I wish you luck.
Posted: Sat Sep 22, 2007 11:14 am
by Arnie
Hi Primrose,
Part of me say's be very careful
I have not heard of this before check with the bank first
Regards
Kevin
Posted: Sat Sep 22, 2007 9:00 pm
by peter
I work in IT and a good example of this type of security is at
http://www.rsa.com/node.aspx?id=1158
The idea is that the device uses some method to generate a random number which method the computer can replicate, so yes it is not truly a random number. This number remains valid for only a set number of minutes before a new one is generated.
I guess what you have has an additional layer of security, or cost simplification, by relating the number generated to some of the data stored on your card, or using it to determine which account to connect you to automatically.
I am professionally pleased to hear of a bank using some proper security on internet banking.
Posted: Tue Sep 25, 2007 8:31 am
by KGAdmin
Yes I've also heard of this device before.
I'm sure anyone who has brought online since July will have noticed too that Visa/Maestro cards now go through the 3DSecure/SecureCode system in order to purchase an item.
This requires you to enter a WEB password which you create to help protect your card.
If you use a site that does not take you through the 3Dsecure/Securecode system - and you have a Visa or Maestro - then do not use the site.
As a note - Maestro (old Switch) have made it compulsory for any merchant to use this system in order to take orders online - however Visa have not. Still, many companies and payment gateways have implemented both at once to make it easier for all.
KGAdmin