HSBC Online Security Device

Pumpkin_rrr on 27/02/2013 - 08:54

I received this in the mail:

"HSBC is committed to maintaining a high level of online banking security. As a result, we will be upgrading your Online Security Device this year.

The new device will provide you with an unrivaled level of protection, keeping you safe when banking online.

We will contact you once your new Online Security Device is available. For more information, visit www.hsbc.com.au/osd"

Please tell me what I am missing here. Dont you think they are so last century? Everyone is using mobile phones nowadays. As far as I know, the only other bank that does this, but even that it's used to be optional, is BOQ. I think this is a joke for a major foreign bank to be so backward. It is such a pain to use, and who will travel with this every day??

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Comments

  • c64 on 27/02/2013 - 09:23
    +1

    it is also compulsory for rabodirect as well. other banks let you buy one eg, suncorp. i imagine it cuts down on unauthorised transfers considerably.

  • Agarwal on 27/02/2013 - 09:55
    +4

    Yeah Rabo has it too, I guess it's better than a mobile phone option if you're overseas or something and are not using roaming.

    • arcticmonkey on 27/02/2013 - 12:45

      I would much rather the secure device than the mobile verification option.

  • retiredfeline on 27/02/2013 - 10:21

    It's also offered by Bendigo. A second factor in authentication, whether this, or a mobile phone, is good.

  • tonester on 27/02/2013 - 11:45

    hard token is more secure than mobile phone :)

    better banks offer both, including cba and soon citibank

    • danield on 27/02/2013 - 16:45

      CitiBank will soon be making mobile phone authentication compulsory. Not good if you ask me, the thought of being locked out of my account only cause I dont have my phone with me doesn't sit well.

      • retiredfeline on 27/02/2013 - 17:21

        Only for Internet interaction. You can still withdraw money and I assume use phone banking (over a land line :-).

      • tonester on 27/02/2013 - 17:26

        sms otp to replace secret questions but hard token will also be available

  • tooblue on 27/02/2013 - 17:10

    Just wondering where did you get the idea that mobile authentication is better than a standalone security device? And others already pointed out that quite a few banks are using the security device.
    Your ignorance just made any of your comments a waste of readers' time.

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