« Happy Birthday Blog | Main | Sky Guide »
October 30, 2007
Natwest Card Reader
I received a letter in the post this morning, from NatWest, telling me I am going to receive a card reader very soon.
Even before I have received it I am very sceptical about this device. OK I can see that it is going to make on-line banking a bit safer but I do have a few issues with it.
I suppose the first would be the practicality of using the thing. It seems that this device generates a unique number for you to log on to certain features. This is every time you log on not just the once. So it now means that I will have to carry this thing around with me everywhere I go. That just can't be practical can it? I use on-line banking from 3 computers.
Maybe they will send out extra readers for those people who need them. It also means that I have to carry my card around with me now as well. I didn't need to before this idea came about.
What happens when they run out of batteries? I know that's being a bit to critical but it will happen. Do we have to buy new ones or do they send us new ones. Maybe they send out a complete new reader!
What happens with joint accounts? Both people will need one to access the on-line banking. Then both people will probably want 2 or 3 of them. There are going to be millions of these things around the world soon, I can just see it.
I hope my other banks don't go this way. It just doesn't seem to be a green solution to this problem.
I'm all for making it harder for fraudsters and thief's but surely there is another way.
Thinking about it, thief's would love this, because everyone will be carrying the units around with them right next to their wallets. A nice little package for them in one place. Just what they wanted for Christmas.
Would love to hear your thoughts on this Card reader idea. For or Against?
NatWest - Card Reader User Guide
Posted by Markiss at October 30, 2007 12:42 PM
Comments
sounds like a lot of hassle man
Posted by: Beav at October 31, 2007 12:00 AM
first we have heard of it, sounds like a hassle
Posted by: ani and Dan at October 31, 2007 12:08 AM
Interesting concept but piss poor implementation. I can only assume that they will have to restrict access to password only logins and allow you to do the interesting stuff (i.e. transfers and standing order setup!) from your home PC. That said, I'm hardly surprised that a bank could come up with a way to make the convenient inconvenient - it's what they're good at.
3rd factor authentication is becoming more popular in the online payment and banking world but most are opting for the much more sensible, portable and usable RSA tokens
Interestingly enough, I've not heard anything from Natwest regarding this - obviously my account (current balance 23 pence) is not worthy of smartcard protection :-)
Posted by: Robert at October 31, 2007 10:04 AM
