[access-uk] Re: chip & pin banking

  • From: "Derek Hornby" <derek.hornby_uk@xxxxxxxxxxxxxxx>
  • To: <access-uk@xxxxxxxxxxxxx>
  • Date: Wed, 16 May 2007 13:54:42 +0100

 This was in The  Guardian Saturday 12th May

Guardian Money asked the big banks whether and how they intend to
introduce the chip and pin at home readers. This is what they say:

Barclays "We have ordered 500,000 PinSentry readers, which we
intend sending out in late summer starting with small businesses,
and then internet banking customers who make payments to
organisations other than utilities, credit cards and similar
trusted names. But we will also send one to anyone who requests
it - you won't be able to pay an unknown third party account
without PinSentry. "

NatWest/Royal Bank of Scotland "We have a programme that will
eventually see our online customers equipped with card readers,
starting in the early summer with a phased roll-out over the
following few months. We shall start with our business customers
and then move on to those who make frequent online payments and
then to most of our other internet account holders. They will be
necessary to set up new payments or to change standing orders. We
intend to make them easy to replace if lost, damaged or stolen."

Lloyds TSB "We shall send out a "dongle" [below] - it's a
keyring-style gadget that will generate a number that is unique
to each transaction. Unlike the calculator-style card readers,
our machine has an in-built chip so you don't need a card or its
associated PIN number. We have been testing this "access code
device" for 18 months with 23,500 customers. It has been a 100%
success, with 95% of customers rating it easy to use. We shall
roll this out later this summer."

HSBC/ First Direct "We don't want to make internet banking more
complicated than it has to be, although we could introduce extra
measures in the future. Our experience of fraud is different and
better than our competitors so while we shall offer our customers
faster payments in November, introducing any additional security
devices that customers will see is not on our radar at the

Halifax/Bank of Scotland "We realise that customers will want the
reassurance of added security when the faster payments programme
starts in November. But we have not yet fully committed to a
particular technology. We may go beyond the handheld gadget to
another form of security - we want a mobile and unobtrusive
system. This will be rolled out in the autumn."

Nationwide "We plan remote card readers for online customers later
this year. These will be the next generation of fraud prevention
technology, adding an extra level of security."

Abbey "We have no immediate plans to bring in extra technology. We
shall see if chip and pin readers have any substantial impact on
the fraud experience once faster transactions start. We shall not
make a decision until then, so our customers will not see any
change for the moment."

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