My bank is upgrading it's on-line security

After Deccy's post the other day about Paypal frawd I got a letter from my bank saying they're sending me a credit card reader.

If I wish to make an on-line payment I insert my card in the card reader (about the size of a small calculator) and it generates a new pin number so I can make the payment.

The original pin number on the card will stay the same for use in ATM's so I think it's a move in the right direction for on-line banking.

oh thats good! i have something similar for my business online banking...it genereates a 6 digit number for me to log in with...

I've got that with Barclays. TBH, I thought it was going to be a giant pain in the bum, but it really isn't, and having to enter an eight digit random number has to be more secure.

All in all a pat on the back for Barclays

I have this with Barclays too, It was trial and error initially, but once it was all up and running - brilliant idea.

I got mine in the post this morning, but haven't had time to read the instruction yet

is nat west doing anything similar???

That's who I'm with

Im with Nationwide and i have had one of these for about 4 months i think. It can be a pain when i try and move funds around from work as of course i do not take the card reader everywhere i go! But i think its a great idea and if it helps to make me and my money (or lack thereof!) more secure then great!

I've got one of those from the Natwest. It only ever asks me for the pin when I'm setting up a new payment, it doesn't ask all the time.

Heidi

I dont do on line banking yet something to look into i suppose