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Banking - Don't you love the changes

idonno
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Banking - Don't you love the changes

Just moved some money around and paid some bills. Seems its all change with the banks for logging on.

Strong Customer Authentication (SCA). I don't mind going through the motions for log in but when some ask me to use the card reader, time and time again as I do each payment, it does get a bit much. Yes, I do have their apps but I prefer a keyboard, mouse when it comes to paying money over - big fingers and tiny screens don't work well.

 

Compared to the hassle of using a phone or a card reader, maybe cash has something going for it.

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TTman
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Re: Banking - Don't you love the changes

@idonno I agree  it is getting harder to logon to internet banking , I think mine is going thro   change and if a pay on my debit card on the internet it now sends me an authorisation code to my mobile!  Like youdo not like mobile banking ,big fingers small keys and also do not really trust it to set up an ap for it.Sad

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Re: Banking - Don't you love the changes

I see my kids checking balances, transferring money, texting on Whatsapp and having a verbal conversation on a mobile all at the same time.

Give me a quiet room and a big screen monitor to do financial stuff any day.

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Re: Banking - Don't you love the changes

Yeah... I remember when banks were open from 9 a.m. until 3 p.m.   and if you wanted to transfer money outside of those hours, you wrote a cheque.. ( or if you live in America   a "check" ! ! ) ..

So.. in the modern world... for us "oldies"... who remember when life ( like us ) was simple ! ... go back to those times... and only do your banking between 9 and 3 ... at home using your big fingers on the nice big keyboard with clicky keys, and a screensize that you can read without glasses ( for some  ! ) .. to make sure you have done it all properly... you will still get the text message for the confirmation code... but at least you will be able to put that in on your big keyboard, hopefully, without any mistakes ! !

 

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Re: Banking - Don't you love the changes

@Strat wrote:

I see my kids checking balances, transferring money, texting on Whatsapp and having a verbal conversation on a mobile all at the same time.

 B18A104B-AB0C-4097-A9FA-0FB90103D7CB.gif

I’m (just) from the era and of the age though where I remember the good old days of what life used to be like without today’s modern technology, while also appreciating/devoting my life to the modern tech. Cheesy

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RobPN
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Re: Banking - Don't you love the changes

I find phone apps for banking more convenient and far quicker than logging in on my PC as most of the ones I use (all but one) allow fingerprint login, but I'll add the proviso that I'm using payees etc. that are already set up.  For setting up new payees etc. it's might be better to use the PC, in fact that might not be possible on all apps.

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Re: Banking - Don't you love the changes


@shutter wrote:

Yeah... I remember when


When I had a wage packet with cash in.

When banks chased customers to deposit their cash with them.

Now customers have to chase banks to get their cash.

God help us if we ever get a cashless society. Banks will have all the power and all our spending will be tracked by numerous "interested" parties.

RobPN
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Re: Banking - Don't you love the changes


@shutter wrote:

... you will still get the text message for the confirmation code... but at least you will be able to put that in on your big keyboard, hopefully, without any mistakes ! !

 


@shutter 

Or you could copy/paste the code from the text message into the app! 

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Re: Banking - Don't you love the changes

@RobPN  How do I do that on my keyboard on the laptop?    simple step by step instructions please. Huh

RobPN
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Re: Banking - Don't you love the changes

@shutter 

I was referring to using a phone app not your laptop!  Wink

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Re: Banking - Don't you love the changes

Remember the days when you just took your wallet out, pulled a note or two out and handed it over to pay for things? No need for verification that it was yours to spend and secret passwords and approval codes, the cashless society is going to be hard to spend money in, I think the capitalists are shooting themselves in the foot there cos people won't spend if they can't spend...... Funny

Champnet
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Re: Banking - Don't you love the changes

The Wife’s finding it very easy to spend in this cashless society....

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Re: Banking - Don't you love the changes

I tend to use contactless/Apple Pay via my phone when buying things in store nowadays as I find it's really convenient. Having said that, the times I have actual cash in my wallet it does feel good.

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Re: Banking - Don't you love the changes

I've been using contactless a lot these past couple years, to the point I need to occasionally pay with the chip & PIN to remind myself what my PIN number is on my Cashplus card, and speaking of that card, I had one heck of a time trying to use that to sign back up for PN services as they asked for the MasterCard SecureCode thing, which I completely forgot, had to spend a bit too long figuring out how to get that back and remind myself of what the hell it was, got there in the end though, but I'm just so used to just paying by paypal that the SecureCode is just a distant memory... Huh

Luzern
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Re: Banking - Don't you love the changes

I think nostalgia is a lovely thing to look back on, but we have to face change in life. When I entered the bank in 1958 in London, if someone saw a cheque for a million, the clerk would remark on it loudly, Now no one would blink an eye. 

Even then few people had a bank account; now it's almost de rigeur and a million is peanuts in business.

Banks don't like cash because it is bulky, requiring storage space and earning them no interest, and can be stolen. The customer pays one way or another for those costs. Cheques also had to be transported between banks and branches through the clearing system. For that premises, vehicles and manpower were needed, and you wouldn't know for teo or three days, if a cheque had been honoured.

The changes reduce, if not eliminate a lot of costs, and transactions are completed end to end far more speedily, including cheques, that are truncated ( dealt with by imaging rather than passed physically). ISTM alll the changes are for the better.

The big problem we have to deal with still is cash, as in remoter parts it is almost unobtainable, and folk have to make 20+ miles round trips to get, but I think we will solve that, or adjust to the new reality, as needs must. 

We did, when bartering gave way to coin, coin to notes, and cash to cheques.

Us oldies will have to go along for the ride, but oldies are what we are.

No one has to agree with my opinion, but in the time I have left a miracle would be nice.