banks that do NOT require security devices

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  1. #1

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    Feb 2007
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    banks that do NOT require security devices

    Can anyone tell me what banks, if any, do NOT require one of those horrid pain in the ass security devices to use online banking?

    I have hsbc and just cant stand them any longer. I'd rather keep my money in the pantry.

    thanks


  2. #2

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    Bank of China.


  3. #3

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    Neither Standard Chartered nor Bank of East Asia do, to my recollection.


  4. #4

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    But BEA does have onetime passwords by SMS for certain types of transaction

    Additional verification for designated transactions

    You are required to use either a one-time password or digital certificate to conduct the following transactions:
    Fund transfers to non-registered BEA accounts in Hong Kong or China
    Fund transfers to non-registered accounts at other local banks in Hong Kong through CHATS or Electronic Clearing
    Bill payments to merchants under the "Banking & Credit Card Services", "Credit Services", and "Securities Trading" categories, as well as payments to the Hong Kong Jockey Club
    Set up of scheduled instructions or templates for the above-mentioned transactions
    Any new transaction types prescribed by the BEA from time to time

    1.One-time password

    An SMS containing a one-time password will be sent to your registered mobile phone when you perform a designated transaction.
    so you're stuffed if your mobile runs out of battery or coverage.

    Bank of China and Standard Chartered both have similar SMS-based systems for similar types of transaction.
    Last edited by PDLM; 29-07-2009 at 11:21 PM.

  5. #5

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    Feb 2007
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    thanks all! I will move to one of them then. the sms system isnt ideal but has to be better than this. have been through three hsbc devices in one year (so far), and everytime I come back from China I have to call the c*cksuckers to get them to reset it since it tells me the passwords dont work. annoying as hell. really dont like the banks here in HK. of course didnt like them in the usa much either.


  6. #6

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    The reason the passwords don't work is that the devices get out of sync. It takes them seconds to fix (one phone call) and can be avoided simply by logging on every couple of weeks or so.

    I can't help with your inability to carry it without breaking it or losing it. Mine has worked fine since the day they were introduced.


  7. #7

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    Jul 2006
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    399

    My second account's security device has been replaced several times over the past year due to the battery simply running out. I keep mine in the same hollow desk drawer as my original account's security device (which has not had any issues). As has been posed elsewhere on the forum, I believe that the newer models are simply poorly made.


  8. #8

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    Feb 2007
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    pdlm, dont be a douchebag. I cant help with your inability to post without sounding like one, but I am sure hsbc appreciates your efforts to rise to their defense.


  9. #9

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    Feb 2007
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    thanks hokuto, maybe that is it. I've had to replace three of them so far this year.


  10. #10

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    Quote Originally Posted by Thanks:
    pdlm, dont be a douchebag. I cant help with your inability to post without sounding like one, but I am sure hsbc appreciates your efforts to rise to their defense.
    I have used mine for 3 years and never had a single problem. But I agree that it can be a PITA to have it with you when you want to do some online banking. Try going into the branches of some of the second-tier local banks and enquire. Their IT systems are not as complicated as HSBC, etc.
    Last edited by Crocodile; 30-07-2009 at 11:39 AM.

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