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Banking - Don't you love the changes

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


@RobPN wrote: I find phone apps for banking more convenient and far quicker.......  allow fingerprint login,

Don't worry, soon be followed by facial recognition. Smiley 

I can see it now, Subject not recognised, you have one more wrinkle added than the quota on the supplied photo. Service terminated...........  Yep, never had that problem with cash.

 

@twocvbloke  I used to use Paypal until I had an unauthorised debit. Found out it was very similar to Credit card mandates (recurring) and that I had to go online and do my own investigating / get the merchant to cancel the debit. Never did get my money back and the amount of interaction with Paypal was minimal - automated replies! Needless to say Paypal went into the bin at that point.

 

But I do have to smile when I read that all this security is about making sure its really you. Total BS really. Just because you have a phone doesn't mean its you at all. And given how wide open phones seem to be - re: recent security updates / flaws that seem to be an ongoing problem, should we really be trusting our wealth to them. Still, at least they can track you moving around.

Ever helpful. Grin Sure, I’d love to help you out. Now which way did you come in?
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Re: Banking - Don't you love the changes

If it ever comes to facial recognition then I am in trouble....never been able to get through passport control when scanning my passport, so end up joining the queue for manual check.

In the past I have had a few small cheques from places that have details of my account, I wonder why they cannot transfer the money direct to my account ?

There must be millions of elderly people and a few younger ones who do not have or do not want this modern technology, we know of a few elderly couples like that, they must be losing a lot of money as many top offers are only available online.

I guess with ?(progress) there will always be winners and losers.

The losers often being the most vulnerable in society.

Community Veteran
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Re: Banking - Don't you love the changes

WARNING....  WARNING ..... WARNING...

Just got the email from Martin moneysaving.....

he reports that NATIONWIDE account holders had better be aware, that OVERDRAFTS will cost a WHOPPING FORTY PERCENT  ( actully 39.9%  how trite of them)  after 11 November

 

https://www.moneysavingexpert.com/news/2019/07/nationwide-overdraft-changes/?utm_source=MSE_Newslett...

 

(interesting choice of activation date ! ! !   I wonder if they will start that from 11 o`clock ... )

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8BKA
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Re: Banking - Don't you love the changes

Nationwide are also cutting interest rates and scraping interest on its Flexplus Current Account

Its to pay for the £2.3 million annual pay package for Joe Garner

 

https://www.thisismoney.co.uk/money/saving/article-7292591/Nationwide-scraps-FlexPlus-current-accoun...

 

Brian A

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Re: Banking - Don't you love the changes


@gleneagles wrote:

If it ever comes to facial recognition then I am in trouble....


 

Same, I'm camerashy... Funny

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Re: Banking - Don't you love the changes


@Gandalf wrote:

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.


Yeah I prefer using cash.

I did try setting up my debit card up on my iPhone and using Apple pay via the contactless from it and I agree it is convenient, in actual fact far too convenient it scares me Smiley

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

Earlier @twocvbloke wrote about using Paypal. I would not use it for large purchase costing over £100.

Section 75 of the act which gave that protection may not be available, as payment has not been to the vendor, likewise payment to a travel agent not the tour operator.

If a surcharge is leviable for credit card payments, only part needs to be by credit card.

No one has to agree with my opinion, but in the time I have left a miracle would be nice.
idonno
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Re: Banking - Don't you love the changes


@8BKA wrote: Nationwide are also cutting interest rates and scraping interest on its Flexplus Current Account

Its to pay for the £2.3 million annual pay package for Joe Garner


Thanks for the heads up. Sad Going off like Santander a bit. Oh well, looks like its go walkies around the internet again over the next couple of months or so, searching for the holy grail - some return on the money. Sometimes it pays to just go for the biggest payout for switching and forget the rest.

Ever helpful. Grin Sure, I’d love to help you out. Now which way did you come in?
Luzern
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Re: Banking - Don't you love the changes

I also got a note from one of my internet banks of a rate reduction in September.

No one has to agree with my opinion, but in the time I have left a miracle would be nice.
Jonpe
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Re: Banking - Don't you love the changes


@shutter wrote:

 

he reports that NATIONWIDE account holders had better be aware, that OVERDRAFTS will cost a WHOPPING FORTY PERCENT  ( actully 39.9%  how trite of them)  after 11 November

 

(interesting choice of activation date ! ! !   I wonder if they will start that from 11 o`clock ... )


Brexit being delayed by 11 days?  (Can't be a general election since it's not a Thursday.)

What happens to our money if we have a solar storm or similar that wipes out all records held magnetically?

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Re: Banking - Don't you love the changes


@Luzern wrote:

Earlier @twocvbloke wrote about using Paypal. I would not use it for large purchase costing over £100.

Section 75 of the act which gave that protection may not be available, as payment has not been to the vendor, likewise payment to a travel agent not the tour operator.

If a surcharge is leviable for credit card payments, only part needs to be by credit card.


 

I've paid at most £120-ish via paypal without issue (Lawnmower, laptop, nope, that's about it!), most of what I pay though is below £30 most of the time via ebay, and usually 2nd hand too, so no real issue with regards to protections (ebay has their own for dodgy sellers, which often is abused by dodgy buyers too), if I were to buy something over £100 online or in person directly via a card then that would be a different matter... Smiley

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


@twocvbloke wrote:

if I were to buy something over £100 online or in person directly via a card then that would be a different matter... Smiley

Worth bearing in mind that for items in that price range (£100 to £30,000) a credit card offers additional protection over a debit card by way of Section 75 of the Consumer Credit Act 1974 which makes "the credit card company jointly and severally liable for any breach of contract or misrepresentation by the retailer or trader".  Wink

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Re: Banking - Don't you love the changes


@idonno wrote:

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.


I won't use the banking apps at all. I also won't use a card reader and thus cannot transfer money either unless i ring the bank and talk to a human. I prefer it this way - far too many online banking scams and it's something i don't want the bank passing the buck on if something goes wrong. Heck i only registered for online banking out of duress - got dragged abroad for a wedding (urgh..) and while out there SWMBO found herself short on smarties and so i had to ring the bank and plead for help - and my employer as i needed my account number and code!

I need a new signature... i'm bored of the old one!
Champnet
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Re: Banking - Don't you love the changes

Like a lot of posters I don't use banking apps, I much prefer using the computer at home..

If I'm out and about, and it's an emergency, I can VPN to a desktop running in a VM on a server back home....

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

I remember standing behind a man trying to pay with his phone via apple pay I assume,  took him a while to get the transaction done and i could see assistant getting a bit peeed off.  When I got to till I waved a £20 note over the terminal and remarked ' maybe your terminal is faulty - it doesn't seem to like notes either'.