9th May 2008
One card-reader fits all for online banking
Good news if you do online banking with several different banks.
You only need one card-reader.
The card-readers are all the same bar the branding.
So if you bank with Barclays, NatWest, Nationwide, RBS and no doubt others too, you can get away with only carrying one card-reader around with you.
I’ve tried it with a couple of the major banks and building societies and I can confirm that all cards and card readers are compatible.
They’re using the APAC - UK payments association - standard. There’s some background on this slightly out of date page on the APACs website
It’s still a pain to have to carry one around though. Puts a terrible bulge in the pocket!
Posted by Nic Price at 5:55 pm on 9th May 2008
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What are the card readers for Nic?
Hi Euan - the card-readers have been introduced by some of the banks and building societies as an extra layer of security between us and our money!
To access your online bank account, you have to put the card in the reader and enter your PIN to generate a code which you then enter in to the bank’s website.
Some banks only make you use the reader if you’re transferring money to other people’s accounts.
ooh err. Not come across that yet
Bit of a pain really.
Given they’re all the same bar the branding it’s a shame the banks didn’t all get together and agree on one company making generically branded readers for all of them, and working with customers to explain we only need one each.
Now that would be corporate social responsibility!