Online banking security measures

[HHTel]

The new Lloyds app has an improvement which I hope spreads to other banks. You have the ability to 'freeze' and 'unfreeze' your account. Therefore you only 'unfreeze' your account when it's actually you that's using it. The rest of the time it remains 'frozen'.

[hhinner]

The new Lloyds app has an improvement which I hope spreads to other banks. You have the ability to 'freeze' and 'unfreeze' your account. Therefore you only 'unfreeze' your account when it's actually you that's using it. The rest of the time it remains 'frozen'.

In Thailand that would add extra time at the supermarket checkout when customers reach for their phones after all their purchases have been scanned.

[Dannie Boy]

The new Lloyds app has an improvement which I hope spreads to other banks. You have the ability to 'freeze' and 'unfreeze' your account. Therefore you only 'unfreeze' your account when it's actually you that's using it. The rest of the time it remains 'frozen'.

Starling have the same feature - I’m sure that most other banks will be following!!

[Big Boy]

So how does it work/get unfrozen? Another security code, which if it falls into the wrong hands means it can be abused?

How many more levels of security codes/OTPs are we going to need to access our own money?

IMHO cash is still king.

[Dannie Boy]

So how does it work/get unfrozen? Another security code, which if it falls into the wrong hands means it can be abused?

How many more levels of security codes/OTPs are we going to need to access our own money?

IMHO cash is still king.

No it’s a simple feature within the bank app on your phone - turn it on or turn it off.



Sent from my iPhone using Tapatalk

[Big Boy]

So a level of security to get through each time you want to use it. Not a bad thing, but just extra hoops to jump through.

[Dannie Boy]

You don’t have to use it - you can leave it unlocked if you prefer, but it gives you extra protection and takes less than 20 seconds


Sent from my iPhone using Tapatalk

[HHTel]

You don’t have to use it - you can leave it unlocked if you prefer, but it gives you extra protection and takes less than 20 seconds


Sent from my iPhone using Tapatalk

Agreed not really another hoop to jump through. It's frozen/unfrozen at the touch of a button.

[Big Boy]

Touch of a button where? Within the banking app I presume. Whatever, I think we need to congratulate you for taking this well off the QR Code subject.

[Dannie Boy]

Touch of a button where? Within the banking app I presume. Whatever, I think we need to congratulate you for taking this well off the QR Code subject.

Actually, someone asked whether if using QR codes for payment would the banks refund the same as using a credit card, so HHTel and I mentioned that it was possible to “freeze” some bank cards so that it couldn’t be used fraudulently - sorry for trying to be helpful.

[hhinner]

Touch of a button where? Within the banking app I presume. Whatever, I think we need to congratulate you for taking this well off the QR Code subject.

Actually, someone asked whether if using QR codes for payment would the banks refund the same as using a credit card, so HHTel and I mentioned that it was possible to “freeze” some bank cards so that it couldn’t be used fraudulently - sorry for trying to be helpful.

I thought the discussion was about locking against QR code payments not virtual cards. Kasikorn virtual cards can be locked/unlocked in the same way.

[Big Boy]

The discussion was about, "Do banks refund this type of fraud if promptly reported, as they do credit card fraud?"

Then HHTel decided to toss a fast ball.

This thread is about QR Codes (there's a clue in the title), but some want to argue black is white for the sake of it.