Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Please note this sub-forum does not provide professional finance advice. You should seek advice from a licensed financial advisor. If investing please consider our affiliate links for new accounts: Sharesies or Hatch. To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification



MichelleBerg

2 posts

Wannabe Geek


#119744 12-Jun-2013 02:23
Send private message

I have lived overseas for 4 years now and am heading back to the good old NZ. I am looking for a good bank. Especially one with good online service.

I was surprised when arriving in Norway to have to use a security device that generated a number i had to key in each time I logged into my bank (DnB) online or paid bills, transferred money etc. At first I found it an inconvenience but then I loved the extra layer of security it provided. I even began to feel "naked" when doing transactions in my NZ account.

More recently the bank has provided a verification app on smart phones as an option instead of the code generator. This is even more handy as My phone is always nearby and it saves me having to key in a number and occasionally mistype it. I get a phrase in my computer screen and a phrase on my phone, if they match I say accept (if they ever didn't I could cancel). I then key my pin code.

I notice ANZ offers a code texted to you to now (I was a National bank client, so now been made an ANZ one). The code texted to you must be keyed into the online banking screen.

What other security systems are around in other banks?

Are they much the same or are there any more elegant systems?

Any other tips on bank offerings also accepted as I am thinking of changing bank once I arrive back home.

Cheers

View this topic in a long page with up to 500 replies per page Create new topic
 1 | 2
freitasm
BDFL - Memuneh
74140 posts

Uber Geek

Administrator
ID Verified
Trusted
Geekzone
Lifetime subscriber

  #834567 12-Jun-2013 07:48
Send private message

BNZ uses a card with a 7x7 grid and asks for three coordinates before any transaction involving one off, creating new payees. You can make an option to ask for the three coordinates at login.





Support Geekzone by subscribing, making a donation. or using one of our referral links: Sharesies | Goodsync  | Mighty Ape | Backblaze | Norton 360 | Lenovo laptops 

 

freitasm on Keybase | My technology disclosure

 

 

 

 

 

 


Affiliate link
 
 
 

Affiliate link: Shop Mighty Ape for electronics, games, computers books and more.
johnr
19282 posts

Uber Geek
Inactive user


  #834568 12-Jun-2013 08:01
Send private message

ASB banking App is awesome

sep11guy
660 posts

Ultimate Geek
Inactive user


  #834569 12-Jun-2013 08:03
Send private message

In ASB u can request for a elec device which will generate random no.s to login to ur account. 

ASB has also a great app, which lets you pay Phone, facebook friends, 

I wouldnt recommend any other bank



nickb800
2640 posts

Uber Geek

Trusted

  #834572 12-Jun-2013 08:14
Send private message

RaboDirect offers a login token, looks like a small calculator. Very secure, but unfortunately they only operate as a savings bank (to retail customers at least) so you can only transfer money out from your savings account into one nominated transaction account with another bank. Which really negates the need for such security

Kraven
677 posts

Ultimate Geek


  #834580 12-Jun-2013 08:43
Send private message

Of the banks I have experience with currently:

Kiwibank's is terrible. Simply asks a random security question on login, eg. Where were you born?

I like ANZ's as I always have my phone with me (sends a txt with a random code if you try to make a payment).

Rabodirect's Digipass is very secure however I find it a bit cumbersome.

freitasm
BDFL - Memuneh
74140 posts

Uber Geek

Administrator
ID Verified
Trusted
Geekzone
Lifetime subscriber

  #834583 12-Jun-2013 08:46
Send private message

Kraven: Kiwibank's is terrible. Simply asks a random security question on login, eg. Where were you born?


You know, for these kind of security I simply don't use the real answers. If one of the questions is "Where were you born" I answer with something like "New York" even though I was born in Rio de Janeiro. 

Answers to those questions are very easy to find if you go mining deep into some social networks, company profiles, etc. So just use misdirection there.






Support Geekzone by subscribing, making a donation. or using one of our referral links: Sharesies | Goodsync  | Mighty Ape | Backblaze | Norton 360 | Lenovo laptops 

 

freitasm on Keybase | My technology disclosure

 

 

 

 

 

 


timmmay
18569 posts

Uber Geek

Trusted
Subscriber

  #834584 12-Jun-2013 08:48
Send private message

ASB sends you a confirmation code by txt before you make a payment, and you can have it send a confirmation code for each login too. I don't do the latter, just the former. I find ASB pretty good overall.



nickb800
2640 posts

Uber Geek

Trusted

  #834593 12-Jun-2013 08:55
Send private message

The Kiwibank system is pretty effective at dealing with the threat of keyloggers, as you click the letters onscreen to answer the question rather than type them, but there are of course many bigger threats than keyloggers.

Agree the questions/answers are very poor security, if you answer them accurately.


For the OP: worth remembering that most banks offer some form of security guarantee, generally that they will cover any fraud losses through their system (sometimes subject to a small excess), so while having your account compromised can be an inconvenience, it doesn't tend to result in a personal loss, which reduces (but doesn't eliminate) the incentive to worry about how secure the bank's login method is

jarledb
Webhead
2838 posts

Uber Geek

Moderator
ID Verified
Trusted
Lifetime subscriber

  #834633 12-Jun-2013 10:07
Send private message

While security guarantees are nice, poor security could lead to higher prices for the services you get (because they have to cover losses from fraud) and its a huge pain in the back if something happens and your account is taken over.

So I would rather have a secure system.

Most systems online today are moving towards two step verifications. Passwords have failed as a good security measure and other means of authentication like SMS messages, applications such as Google Authenticator etc. are taking over.

You can already implement that with Paypal (well, maybe not in NZ; but the US have it), Facebook, Gmail, etc.

If you want to know why you should not trust just a password, check out what happened to Mat Honan at Wired: http://www.wired.com/gadgetlab/2012/11/ff-mat-honan-password-hacker/all/

So if your account is based on a password, and there is any chance of getting your bank to reset your password by email, and that email account is not properly secured.. well you know what will happen.

ajobbins
5050 posts

Uber Geek

Trusted

  #834646 12-Jun-2013 10:42
Send private message

To me, having a code just to login is stupid (BNZ had this for a long time - now you can turn it off).

I only want to enter a code when I do anything that could risk me actually losing money. If someone logs into my account, they can't use the information on the screen for anything particularly useful.

Having a 2FA code to make a one off payment, set up a new bill payee, automatic payment, change details, apply for things etc is all that's needed.

ASB are a great bank, and probably offer (IMO) the best 2FA solution. You can either have them give you a physical RSA SecurID token that displays a constantly changing 6-digit code on it's screen, or they can send you a unique code by SMS each time it's needed. Both involve small fees, and if you make a lot of transactions it may be cheaper to go for the hardware device.

I have accounts with both BNZ and Kiwibank - and I find their 2FA systems annoying and overly cumbersome to use. Especially with Kiwibank as I HAVE to do it upon login, and can't turn it off.




Twitter: ajobbins


1080p
1332 posts

Uber Geek
Inactive user


  #835662 12-Jun-2013 11:43
Send private message

I think Kiwibank's system is the best. You can set it to ask you a question only you know the answer to and it will request a couple of letters from each answer every time you log in.

It really is an ingenious method of extra security without requiring you to carry a piece of plastic about or a dongle.

Obviously, if you answer their questions with information that others already know about you then it is not effective but that would be on you rather than Kiwibank.

ajobbins
5050 posts

Uber Geek

Trusted

  #835671 12-Jun-2013 11:58
Send private message

1080p: I think Kiwibank's system is the best. You can set it to ask you a question only you know the answer to and it will request a couple of letters from each answer every time you log in.

It really is an ingenious method of extra security without requiring you to carry a piece of plastic about or a dongle.

Obviously, if you answer their questions with information that others already know about you then it is not effective but that would be on you rather than Kiwibank.


It's just a bit cumbersome, and isn't true 2FA. 2FA is supposed to be something you know (a password) and something you have (A token). Kiwibank's is a something you know and something you know - or possibly a something you know and something others might know too.

And the fact you need it even to log in and check a balance or move money between your own accounts is just painful.




Twitter: ajobbins


MichelleBerg

2 posts

Wannabe Geek


  #836220 13-Jun-2013 11:11
Send private message

Something you have and something you know is good security mantra.

I am liking the sound of ASB more and more, although ANZ is sounding less bad when I hear of some of the other systems out there.

It is great to hear all your input. Many thanks-

ajobbins
5050 posts

Uber Geek

Trusted

  #836225 13-Jun-2013 11:17
Send private message

MichelleBerg: Something you have and something you know is good security mantra.

I am liking the sound of ASB more and more, although ANZ is sounding less bad when I hear of some of the other systems out there.

It is great to hear all your input. Many thanks-


In terms of Internet Banking, ANZ use a re branded version of what was the National Bank's IB platform. I believe a lot of the ANZ banking core now is based on National Bank platforms




Twitter: ajobbins


Kyanar
3453 posts

Uber Geek

Trusted
Subscriber

  #836260 13-Jun-2013 12:07
Send private message

Could be worse - Westpac's security is something you know (your password), something WE know (blackbox analysis of login to determine if trustworthy or not) and something everyone knows (your birthplace or one of 7 other stupid questions 5 seconds of searching on Google or Facebook can tell you - and even then only if Westpac determined that your login didn't match their pattern analysis).

Random factoid you probably didn't know - your password is case insensitive if you are with ASB, Westpac, and I believe Kiwibank and ANZ. TSB and BNZ your password is definitely case sensitive. Try it yourself sometime - enter the case of your password incorrectly and marvel as your bank happily logs you into your accounts!

 1 | 2
View this topic in a long page with up to 500 replies per page Create new topic





News and reviews »

Amazon to Acquire iRobot
Posted 6-Aug-2022 11:41


Samsung x LIFE Picture Collection Brings Iconic Moments in History to The Frame
Posted 4-Aug-2022 17:04


Norton Consumer Cyber Safety Pulse Report: Phishing for New Bait on Social Media
Posted 4-Aug-2022 16:50


Microsoft Announces New Solutions for Threat Intelligence and Attack Surface Management
Posted 3-Aug-2022 21:54


Seagate Addresses Hyperscale Workloads with Enterprise-Class Nytro SSDs
Posted 3-Aug-2022 21:50


Visa Launching Eco-friendly Payment Solutions in New Zealand
Posted 3-Aug-2022 21:48


NCR Delivers Services to Run Bank of New Zealand ATM Network
Posted 30-Jul-2022 11:06


New HP Portfolio Supports New Era of Hybrid Work
Posted 28-Jul-2022 17:14


Harman Kardon Launches Citation MultiBeam 1100 Soundbar
Posted 28-Jul-2022 17:10


Nanogirl Labs Launches Creator Project
Posted 28-Jul-2022 17:05


Marvel Snap Launches as an Action Collectible Card Game
Posted 26-Jul-2022 17:46


Jabra Talk 65 Review
Posted 26-Jul-2022 17:31


Huawei Watch D Review
Posted 26-Jul-2022 17:26


Huawei Introduces Watch Fit 2
Posted 14-Jul-2022 17:06


Huawei Launches Watch D in New Zealand
Posted 14-Jul-2022 17:05









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.







GoodSync is the easiest file sync and backup for Windows and Mac