Comments on: One card-reader fits all for online banking

By: Arjun

Arjun — Sat, 26 Jun 2010 13:44:15 +0000

How it creates the secure code? how it communicate with bank website..?

By: Nic Price

Nic Price — Sun, 05 Jul 2009 22:42:17 +0000

Steven, it looks like there’s no escape from these things.

I’m still disappointed they all had to have their own branding and manufacturing, when one central company could have done it, which would have been a lot more ecofriendly.

By: steven

steven — Sat, 04 Jul 2009 15:57:14 +0000

Am I the only one who thinks this totally undermines the point of online banking? And how can it be extra secruity if I have to keep the card and the reader with me at all times? Seems more like a recipe for extra fraud, extra inconvenience.
I’m looking for a bank that does not insist on using them – any suggestions?

By: Nic Price

Nic Price — Tue, 21 Apr 2009 09:18:20 +0000

Rhian hi – to the best of my knowledge the card reader doesn’t affect the time it takes, it’s simply an extra layer of security.

The answer will depend on however long your bank takes to transfer to other banks.

By: Rhian

Rhian — Mon, 20 Apr 2009 12:01:59 +0000

How long does it take to transffer money with a card reader??

By: Jackson Bank

Jackson Bank — Sat, 07 Mar 2009 01:37:01 +0000

Well, the burden of carrying a card reader is a necessity that ensures more security for your hard earned money. Thank heavens that the manufacturers follow the APAC – UK payments association – standard, if not the problem of carrying several readers would have been taken care of by guys making do with just one online account.

Identity and card theft is what the card reading requirement is all about; never mind that the banks are too independent to even think of cooperating in the card reader issue as it concerns the convenience of their consumers.

It quite good of you to post on this card reader issue, a lot of folks are not aware and so carry more than one reader some times.

By: Clare P

Clare P — Wed, 21 Jan 2009 01:30:43 +0000

Does anyone know if American issued card readers will work for UK online banking?
thanks

By: Nic Price

Nic Price — Thu, 03 Jul 2008 08:50:39 +0000

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!

By: Euan Semple

Euan Semple — Thu, 03 Jul 2008 08:39:02 +0000

ooh err. Not come across that yet

By: Nic Price

Nic Price — Thu, 03 Jul 2008 08:35:16 +0000

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.