In article ,
says...

On 28/09/2010 16:50, Dave wrote:
I am banking with Nat West and went for paperless banking some time ago
and they gave me a card reader for some of the transactions. What does
it do?

Dave

Quite simply:

If you use online banking, then most of the routine stuff ( bill
payments etc ) do not require this device.

Only when you try transfer cash to less-trusted accounts will this kick
in. By less-trusted, I mean accounts not pre-defined by the bank like
utilities, credit cards etc.

So if you want to trasfer cash to your sister-in-law using the sort-code
and accout number, then you need to use additional security.

This card reader provides the additional security the bank requires.

When you attempt to perform these certain tasks using the bank's
website, like setting up a payment to your cousin, it may tell you you
need the card reader. You will be instructed to insert your card in
the reader, and enter your PIN. You will then be instructed to enter a
number on the keypad. The reader will then generate a response, and
you will be required to type that response back into the web page.

If you never do any 'fancy' transactions like this, you may never need
the thing.

I used to have a SecureID fob for accessing the company's intranet over
the internet.

It continuously displayed a 'randomly' generated number which changed
every minute. To gain access, as part of the log on proceedure you had
to enter this number before it expired. Each key had a unique 'seed'
which determined the random pattern so that only my fob would work on my
account.

I think the bank machines use the same principle, except that the
'seed' is generated by the card - hence anybody can use any machine but,
obviously, only their own card.

My machine is provided by Nationwide.

The first time I used it, there was a problem and I had to try it more
than once. As expected, the number changed after a short time. (This
problem was obviously a hiccup with Nationwide's server, as it worked
perfectly the following day and any other time I've used it.)

The trademark embossed into the plastic housing (on the back) is Xiring.
How does this compare with rteaders provided by other banks?

--

Terry

On Thu, 30 Sep 2010 09:58:51 +0100, Terry Casey wrote:

In article ,
says...

On 28/09/2010 16:50, Dave wrote:
I am banking with Nat West and went for paperless banking some time
ago and they gave me a card reader for some of the transactions. What
does it do?

Dave

Quite simply:

If you use online banking, then most of the routine stuff ( bill
payments etc ) do not require this device.

Only when you try transfer cash to less-trusted accounts will this kick
in. By less-trusted, I mean accounts not pre-defined by the bank like
utilities, credit cards etc.

So if you want to trasfer cash to your sister-in-law using the
sort-code and accout number, then you need to use additional security.

This card reader provides the additional security the bank requires.

When you attempt to perform these certain tasks using the bank's
website, like setting up a payment to your cousin, it may tell you you
need the card reader. You will be instructed to insert your card in
the reader, and enter your PIN. You will then be instructed to enter
a number on the keypad. The reader will then generate a response, and
you will be required to type that response back into the web page.

If you never do any 'fancy' transactions like this, you may never need
the thing.

I used to have a SecureID fob for accessing the company's intranet over
the internet.

It continuously displayed a 'randomly' generated number which changed
every minute. To gain access, as part of the log on proceedure you had
to enter this number before it expired. Each key had a unique 'seed'
which determined the random pattern so that only my fob would work on my
account.

I think the bank machines use the same principle, except that the 'seed'
is generated by the card - hence anybody can use any machine but,
obviously, only their own card.

My machine is provided by Nationwide.

The first time I used it, there was a problem and I had to try it more
than once. As expected, the number changed after a short time. (This
problem was obviously a hiccup with Nationwide's server, as it worked
perfectly the following day and any other time I've used it.)

The trademark embossed into the plastic housing (on the back) is Xiring.
How does this compare with rteaders provided by other banks?

My NatWest one is from Xiring.



--
Use the BIG mirror service in the UK:
http://www.mirrorservice.org

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