Most Secure Bank for Internet Banking

speedyjonzalas on 17/12/2017 - 23:30
Last edited 17/12/2017 - 23:51 by 1 other user

Backstory:

At a crazy time of day while the kids were going wild my wife who is usually extremely vigalent with internet security clicked on a text and logged into nab, in turn allowing some sneaky people to transfer all our cash out of our account. (via bPay which to a credit card, not held by us, despite two factor being set up by us).

We called within 30 minutes of this occurring and nab were a trial disaster to deal with. They guaranteed to return the funds within 10 days. I recorded this conversation. (It was payday and I tried to get cash out and had only just checked the account balance).

10 days later, they refused to cancel the bPay which I understand may have been impossible, and decided to lock our accounts for 6 to 8 weeks just prior to Christmas.

With absolutely no recourse.

They essentially told me to deal with it. We have no other accounts or cash and are about to go in for a new home loan so this was a disaster.

They even promised to contact all credit providers after 8 weeks to ensure all credit action was reversed. After I pushed them on this they agreed they could not actually do this.

After a huge amount of threatening through legal and media action, about them blocking our only access to cash they gave up and released our cash back to us.

I'm honestly shocked at how terribly NAB treated us. My only positive I can take is that I was sensible enough to have recorded everything.

I truly believe they would have screwed us over and kept the cash given the chance.

Fast forward a week after getting the cash back… My wife finds out that she can bank transfer any amount of cash to any account without mobile phone confirmation despite the account settings saying that is impossible. This is after I asked them to double check this.

So what bank offers the highest level of protection as I am totally done with NAB?

Financial

Comments

  • atris17 on 17/12/2017 - 23:49
    +5

    ANZ have this app ANZ shield.

    Everytime I make a huge transfer , I have to go to a separate app ANZ Shild to get a code to enable transaction

    UBank also have sms code verification too

  • [Deactivated] on 17/12/2017 - 23:50
    +2

    I'm with ANZ and happy with their services! I recommend checking them out

  • airal3rt on 17/12/2017 - 23:51
    +29

    No bank can save you if your wife clicks on a freaking text message and logs some scammers into your bank account. There's no bank that offers "the highest level of protection" that will turn that train-wreck into anything less than an extremely sticky situation.

    Just contact whatever bank you go with and get them to set up two factor authentification if you can't get the setting enabled online.

    • Godric on 18/12/2017 - 08:19
      +1

      Lol this ^^^^^^^^^^^^^^^^^^

    • Randxyz123 on 18/12/2017 - 10:35
      +5

      This!
      Banks continually tell you “we will never ask you to login from a email”

      Anytime you get a email from your “bank” always manually go to their website and login.

      Sorry but I don’t think you can claim your wife is security vigalent when she falls for the oldest trick in the book….

  • [Deactivated] on 18/12/2017 - 00:17
    +11

    It seems like it's harder to withdraw from cashrewards than nab

    • MathNerd on 18/12/2017 - 11:58

      Haha, you made my day ;)

  • ozhunter on 18/12/2017 - 00:36
    +12

    my wife who is usually extremely vigalent with internet security clicked on a text and logged into nab

    Doesn't seem she is vigilant at all, if she would log in through a sms link.

  • Cheeper on 18/12/2017 - 00:38
    +5

    All banks have good security these days. The prime source of security breaches is the customer and incidents like you were involved in.
    The best way to correct that is being more careful in the future no matter which bank you are with.
    In the incident you mention NAB had no obligation to refund you the money as the cause of the incident was through your own negligence. If I was you I would stay with them as most others would have stood their ground and refused.

  • o53djz7qTPY4der on 18/12/2017 - 05:32
    +1

    I too got the nab text. I don't have any accounts with nab.

    ING have reasonable security. But as others have said, there's not much the bank can do to anticipate customer mistakes.

  • whooah1979 on 18/12/2017 - 06:17
    +1

    So what bank offers the highest level of protection

    Pebkac.

  • Dont Care on 18/12/2017 - 06:49
    +1

    you need a new wife. youre blaming the bank. It's your silly wifes fault

    • Peck on 18/12/2017 - 09:55

      Yes, withdraw, and get her to give you a two factor authentication.
      Ignore all messages from financial institutions, etc. that require you to do anything. If concerned by the message then go directly to your account. Never use their link. You need to build up your scepticism.

  • original15 on 18/12/2017 - 08:41

    The scammers just bulk send these from random banks and hope you’ve got an account with them to trick you. There are also some fake iTunes types ones to get your Apple ID
    Like a poster above, I’ve also received a text asking me to log in to a bank I don’t even have an account with but also to one I DO have an account with.
    What they’ve been able to do though is, say you already have an existing sms thread from a bank, replicate the sender details so it appears in the same conversation history
    Just gotta be vigilant. No reason to log in randomly, why would the bank send that!!

  • Ryanek on 18/12/2017 - 09:22
    +1

    Can I suggest you setup a separate bank account, and if you can, transfer a little part of your pay to it automatically? Set and forget. Ideally you shouldn't be dependent on one institution for all your finances.

  • i37 on 18/12/2017 - 09:52

    Are their any banks that requires two factor auth (SMS / app) for all new BPAY payments and bank transfers, rather fhen just your internet banking password? I've noticed nab only needs sms on pay anyone once and BPAY just requires your internet banking password again (no SMS).

    6 months ago I was able to close a PTY LTD business account using the account number by showing the teller the account in commbank app on my phone. No ID required which freaked me out as she gave me $1200 odd that was left over in the account to close it (less a prorated account fee!)

    Nab and Cba seem a little relaxed on security.

    • whooah1979 on 18/12/2017 - 12:12

      No ID required

      What id would you like them to ask for? They already have a close up of your face from the teller security camera.

      • i37 on 18/12/2017 - 16:35
        +2

        I'd prefer a drivers licence check.

  • Quantumcat on 18/12/2017 - 13:48

    CBA requires SMS pin to pay any account you have never paid before.

  • 88mph on 18/12/2017 - 22:16

    Or ask for an RSA token, most of the big four have them but not advertised openly.

    Its usually buried in the additional security features area. I asked for and got, from two of the big four.

    • whooah1979 on 19/12/2017 - 07:05

      Or ask for an RSA token,

      Better yet, don't click on the link. Don't even open the email. Filter anything that start with dear customer or dear valued customer as spam.

      • 88mph on 19/12/2017 - 07:33

        Yes agreed, that is a given. I can't fathom why anyone would do that in this day and age.

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