So sick of banks pretending they are protecting me.
There are ways they can protect me, but in most cases the possible "fraud" for any of my cards involves the bank being defrauded, and not me.
They are the ones that are lied to by a fraudster pretending to be me. It is rare, but could happen, that someone lies to me. It is almost always they (the bank) are that are victims of fraud and that is what they protect.
Stop asking me to spend my time helping you for no consideration - I want paying for every time I suffer this inconvenience and HELP YOU, my bank...
Reminds me of the classic Mitchell & Webb.
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LoL what a joke........Just use 2FA or SMS confirmation
ReplyDeleteI must now ask the question Adrian...WHY are you still with Barclays? Plenty of other fintech business banks around now :)
ReplyDeleteAre there? Can you point me in the direction of a few please? Must offer a UK based business current account.
DeleteThe problem with legacy banks like Barclays is its so hard for them to better the security on their ancient systems, thats why the new fintech's will kill them easily, and why a lot of the fintech startups will be bought by the legacy banks......just a guess on my part though.....
ReplyDeleteUp until recently full DoBs were recorded for all directors on companies house, these days it's only month and year displayed but often if you pull filing PDFs from appointment of the director you can still find it.
ReplyDeleteSo apparently I can pass fraud prevention for you if I steal your card!!
Nationwide are the same, I bought a few things online and paid for car insurance on one night last week, and my card was blocked a total of 3 times, each time they sent me a text to confirm and then unblocked it.
One of the retailers then insisted I used a different card due to declines on the first card, and I had to start moving money around.
If my card has just been used legitimately, which you've confirmed, is it really likely that it's then been stolen in the next 5 minutes? After the 2nd time, surely to block it a 3rd time is just trolling me...
He he ... I'm loving the "old git" ranting down the phone, you sound just like ... well ... me!
ReplyDelete...and me but it makes me feel better.
DeleteI had the same experience last August when I tried to renew my car insurance with a barclays' credit card. Not such a big deal as it was an online payment but you still suffer that initial sick feeling in your stomach, fearing that somebody may have compromised your card, until the phone message arrives. After all, why else would they reject my payment?
What is a fintech bank?
ReplyDeleteI'd never heard the term before, either but apparently it's short for financial technology. It seems that where banks are concerned the term is used to refer to relatively new banks that operate online only and in theory have superior IT systems to their established high street rivals. Wikipedia has a detailed explanation.
DeleteYou could possibly try linking your existing barclays card to a curve card ( https://www.imaginecurve.com ). Transactions made through curve appear to be less likely to trigger security/fraud alerts in my experience so far, plus you get instant notifications to your phone, easy data export to CSV, foreign spending generally attracts lower fees, etc. I've been using curve for a good 6 months or more and it's been working well. Use a referral code to get a free £5 credit too (the referrer gets £5 too, my code is SULQG).
ReplyDeleteOne useful thing banks could surely easily do is hold a password known to you which *they* have to give if they originate a call, but apparently that simple and obvious step is beyond them because none of them do AFAIK.
ReplyDeleteOK, it would not affect "ID theft" but it would help with telephone phishing attempts and pensioners getting conned into moving savings to fraudsters' accounts. The fact that they don't provide something which actually would protect customers speaks volumes.
Couldn't agree more. Sick to death of getting calls when the first thing they do is ask me to prove who I am.
DeleteI'm the one you just surprised with a call from someone purporting to be my bank, or vodafail, or microsoft wanting to fix my linux computer. So you prove to me who you are.
Calls end very quickly when I refuse to give out any info.
Muppets.
OK, I know this is a few weeks old but wanted to throw in my rant about that ridiculous verified by visa check that pops up almost every time I use my card on line.
ReplyDeleteWhen that first started to appear I was constantly forgetting my password. So I'd click the "forgotten password link". It would then ask questions such as "The full name on the front of the card", "the cvv on the back of the card", "the expiry date on the card" ,"the long number on the card". It would then reset the password. Absolutely no 2fa. No email to activate the password, no txt message, nothing at all.
So if I've stolen the card I have everything I need to reset the VBV password. Oh, and username. I ended up with two usernames.
And the fact that I reset the password for the first dozen or more times I used it raised zero suspicion. So who exactly does VBV protect ?
Muppets.