Over the years, online banking has become quite popular. It’s great to have immediate access to transactions and balance information.
There are always concerns for security when banking on the Internet. One of the banks that I use is obsessed with online security. That’s a good thing.
But when security is so tight that not even a customer can log in, the service becomes impotent.
My bank requires a series of passwords, followed by a real-time code generated by this little thingy-dingy that they provided for me. The code is only good for one minute so you have to move quickly.
And while the process is safe, it is quite cumbersome, so I am less inclined to use online banking unless it’s absolutely necessary.
The kicker is this: If you don’t log on in a 30 day period, the online account is deleted. Not disabled. Not locked. It is deleted. To get back online requires a new application, new passwords, and a new thingy-dingy.
Worst of all, all of the data is lost from the prior account. You start all over with a blank slate.
It seems to me, that whoever made the decision to approve this process was much more concerned with the possibility of loss than creating a tool that would be useful for customers.
It’s always important in business to always put the customer’s needs first. Apparently, in this case, that was not part of the formula!
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I do not do my banking on the internet. We already have to remember too many passwords.
That is beyond ridiculous! I'm all for online banking but if I had to go through what you go through, I'd be finding another bank. Next thing you know is we'll have to submit to DNA tests to do our online banking, lol.
Richard, that is crazy! I believe in security, but I've never seen the thingy dingy before. And to have the account totally deleted if you miss 30 days?
Wow
Richard,
We just discontinued this process for logging on to our MLS. Having that fob with you all the time was a real pain.
Rich
Wow...I had less security when I was the classified materials officer in the military! I did have a bunch of Marines around me with big guns though!
Richard:
This on-line world of passwords is often maddening to me. I realize the necessity of it all but it is really a challenge when we are so protected against access to our own money.
Richard, I'm afraid the too secure trend will continue to escalate...so much money is stolen from banks on line, we are just seeing the first wave of on-line security.
Yeah, sounds like your bank may have been burned before by their lack of online security and now they've overcompensated by providing too much security. They need to strike a balance between security and convenience, and get rid of deleting accounts that haven't been logged into for 30 days, that's just crazy. I think I'd be finding a better place to bank with, too.
Good morning Richard,
We have been compromised twice with on-line banking. I will say our bank was quick to catch both times but the hassle to close our accounts, reopen and have our money held for 7 days was not fun!! On-line is quick, easy but also is a target for those out there who spend all day trying to figure out how to relieve banks from the money held in their accounts!! Security will escalate which will cause many not want to use on-line service.
Richard, that is over the top! There must be a better answer.
Gita...
We sure do, don't we? Thanks.
Jackie...
I just hate it that my check records are gone. That seems extreme to me. Thanks so much.
Bob...
It really does seem like they are going to far! Thanks.
Richard....I'm from the old school....I have a checkbook that gets balanced every month.....no ATM card.....I do have an ING account and that's the only type of account I have online.....everything else is in person at local banks.....
My bank does the same thing with deleting online accounts not used in a 30 day period.
I understand the high level of security, but it's such a nightmare to get set up again that I'm not so sure it's worth even having an online account.
Sounds like a lot of fun my friend. The being deleted after 30 days would drive me up the wall, and my car would drive me to another bank.
Richard, I feel your pain here, that sometimes the systems require password changes you forget the new password. YOU are the user and you can't use the system. VERY frustrating...
I have already been burned!
Some one took the information off my check and went to another city and re-ordered checks (with new bogus address) for an elderly gentleman who had a checking account in that bank but with the same name as my husband. Then they proceeded to write checks from Kileen, all the way to Baytown in Texas at every Wal-Mart and HEB food store and some other place... all 32 checks were well over $300.
I still can't write checks as a well known bad check recovery company decided to not take the affidavit I supplied for the last two checks! They said to submit a new one...only now I have to go to that county locate a sheriff or officer and file a report... so I gave up....
At first the company wanted me to go to every city where a check had been accepted and get an affidavit there!
So I went to on line banking and use a card for all my purchases...it's much easier and I don't have to buy checks anymore. I do keep checks but rarely use them.
Coming to you from Texas...
PART TWO>>>
I forgot to add that I think the recovery check company did that because they were afraid that somewhere out there is a person with 168 blank checks waiting for the chance to write more checks using our info.
Since I have not been arrested for bad checks....but then on the other hand you just never know. :0(
Coming to you from Texas...
Richard: I cringed just looking at the photo. Our MLS went to a code generator, in addition to a passcode, last year or two. Thank goodness they've thought better of it and just went to a two passcode system. This little thing is annoying.
Richard...we used to have one of those gadgets in your picture to access the MLS. We have gone back to only passwords. Don't know if it is safer today than a year ago, but I am glad it is gone!
I'm all for security but I just couldn't have an account at a location that required this.
You gotta respect a bank that's truly trying to protect customer's security... if only they could get it right the first time, without experimenting with gadgets like this.
Richard I need to update my piece of paper that has all of my passwords on it. I don't want to use the same for each website so I have to write it down. Well guess what I am running out of room.
There are some companies that are just to security minded that they hinder their own business.
Richard - Tight security is always a good thing but a key fob for online banking!? I'd change banks.
Where do you bank Richard. This sounds like they're trying to be more secure than Fort Knox. Can't believe the account delete after 30 days.
Our MLS had the little "thingys" to log in with the same sequence of access as your bank....man that was annoying. ( A valient attemp since some agents were giving their friends access to the mls.)
If the thingy was broken or in your other coat pocket...you were out of luck. Now we have the standard account #, user name and password set up ...
Richard, until recently, we needed one of these stupid things to log onto MLS. Fortunately, they did away with them a few months ago. I hate them.