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How safe is internet banking? watch

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    Forgive me for being a total novice on this, but I was just starting to think about setting one up for convinience with uni and all that etc etc etc.

    and so I wonder, exactly how safe is it?

    I assume its similar to an e-mail account in that you have some sort of password to access it. If thats the case, then all it takes to be defrauded is a keylogger from a virus in the computer you're using, right?

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    Oh no it's not the same, but it depends which bank you are with.
    I am with Natwest, and they put a lot of different things in place to make it safe. Most students I know have the same account, and have never had an issue.
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    You usually have a password, username and often a special code that you enter from a drop down menu (as opposed to typing in keys).

    I guess there is some possibility your account could be hacked, but I'd just check it regularly and if something dodgy came up then report it.

    It's not as though I have huge amounts of money for someone to steal.

    It's super convenient. Couldn't live without it.

    Safer to use on your own computer, avoid using on public computer
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    safe enough
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    people are always the cause of the lack of security everywhere, so as long as you're sensible with your data, i don't see any risk at all!
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    (Original post by W.H.T)
    Forgive me for being a total novice on this, but I was just starting to think about setting one up for convinience with uni and all that etc etc etc.

    and so I wonder, exactly how safe is it?

    I assume its similar to an e-mail account in that you have some sort of password to access it. If thats the case, then all it takes to be defrauded is a keylogger from a virus in the computer you're using, right?

    It varies from bank to bank, but usually you get a customer number, then you can select a pin (not the same as your card pin) and a password then you get asked for specific digits/characters. Others have a keypad where you press the numbers to enter them and they are in random positions that change each time you go on. Online banking is ridiculously safe as far as communication between you and the banks servers. Unless you go and give your details to a Nigerian you're fine
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    The Nationwide has recently introduced a card reader for their internet banking.
    http://www.nationwide.co.uk/internet...cardreader.htm
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    Natwest have a card reader too
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    Statistically speaking it is safer than an ATM or telephone banking.
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    (Original post by Emaemmaemily)
    Oh no it's not the same, but it depends which bank you are with.
    I am with Natwest, and they put a lot of different things in place to make it safe. Most students I know have the same account, and have never had an issue.
    can you give some examples of these?

    because if its simply a matter of having more codes and passwords to type out, then essentially all these 'extra' security measures would surely be redundant in the face of the threat from keylogger viruses.

    by the way, the bank I'm thinking of setting one up is nationwide
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    (Original post by JamesyB)
    It varies from bank to bank, but usually you get a customer number, then you can select a pin (not the same as your card pin) and a password then you get asked for specific digits/characters. Others have a keypad where you press the numbers to enter them and they are in random positions that change each time you go on. Online banking is ridiculously safe as far as communication between you and the banks servers. Unless you go and give your details to a Nigerian you're fine
    All this is done via the computer keyboard, right?

    If so, then its all still vulnerable to a keylogger virus, or am I missing something?

    Also this keypad you mentioned about which have numbers that change position, is it a virtual keypad thats on the computer screen?
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    (Original post by W.H.T)
    can you give some examples of these?

    because if its simply a matter of having more codes and passwords to type out, then essentially all these 'extra' security measures would surely be redundant in the face of the threat from keylogger viruses.

    by the way, the bank I'm thinking of setting one up is nationwide
    Well if you're setting up with nationwide it's irrelevant me telling you about natwest lol
    btw, natwest student accounts are better.

    But... they never ask you to type your whole password or pin... they ask for certain characters (different ones and combinations) so that you never type the whole thing (stopping it from being stolen).
    They also have a card reader, meaning that to do any online transaction on there you need to use it (essentially needing your bank card and knowing your pin without typing it into the computer).
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    Very safe I'd say. If it wasn't the banks wouldn't be able to offer it.
    There's a lot more security involved in it than email. I have to input three separate bits of information to get into my account, and then if I want to make an outgoing payment there's a telephone-based confirmation system that's pretty much foolproof against hackers/fraudsters. I've been doing my banking online for a few years now and I've never any problems.

    The bank also seem to be upgrading the system continuously now.
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    At hsbc we have 3 things that we have to enter.

    The first is a code about 12 digits long

    Then we enter our DOB

    Then we enter a 3 number pin that changes each time we log into the account (I think this is to stop keyloggers?)
    When we first opened the account we chose a password that consists of numbers (not sure how many we are allowed) and then each time we log in It would ask for say the 'fourth number' the 'second to last number' and the 'first number' in the password.

    So say if your password was 76887364 and it asked for the second, fifth and last number, the pin you would enter would be 674. But it doesn't always ask for the same sequence.
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    (Original post by meenu89)
    The Nationwide has recently introduced a card reader for their internet banking.
    http://www.nationwide.co.uk/internet...cardreader.htm
    Recently? I got mine 2 years ago. Hardly call that recent.


    Anyway, internet banking is safe. As safe as telephone banking IMO. As long as you're not a moron with your details and don't log on in internet cafe's etc you should be fine
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    It isn't fully safe, but about 99% of the time it is fully secure.

    Nothing is perfect, but if your looking for the bank which offers the highest security possible just join Natwest.

    They are the best.
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    (Original post by Jmzie-Coupe)
    Recently? I got mine 2 years ago. Hardly call that recent.

    I got mine very recently, up to now you had to type in the customer number and passnumber.
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    It's perfectly safe really. You just have to make sure you go directly to the site (eg. natwest.com) and not some dodgy link you found on a website. If there is a padlock next to the web address in your browser, it's completely secure. You will be given a username or account number, you will have a password and you will have your pin number. They also ask for specific characters from your pin and password, so keyloggers can't log them effectively. The only time I'd say it is not secure is if you get a nasty virus on your computer, I'd avoid it if that happens.
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    (Original post by meenu89)
    I got mine very recently, up to now you had to type in the customer number and passnumber.
    Nope. Got mine 2 years ago. Any time I need to change important details etc I used that machine.
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    Natwest asks for a code, password and PIN (different to your card pin) and they only ask for a few characters/numbers from your password/PIN so you only ever enter a fragment of each of those. It also auto logs you out after 5/10 mins so people can't get up to mischief if you leave it unattended and you can't do anything except view your statement unless you have a cardreader or something.
    An extra tip would be not to log in via internet explorer, one of my computer geek friends say that it's easier for hackers to find loopholes in IE or something, idk.
 
 
 
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