BootsnAll Travel Community

I just found out that my bank now offers what they call a security token for logging in to their online banking. It's one of those things that changes the code every 30 sec, the idea being that it can protect you against keystroke loggers etc...

Anyway, I've been thinking about the idea of using online banking from internet cafes while traveling and this security token sounds like a nice idea to overcome the associated security issues.

So my question is whether this is actually a good idea. On the one hand it should improve security, but on the other hand it's just another thing to lose (and if lost, I'd have no access to my online banking).

Do you mean one of those things where your given say an 8 digit code, then when you log in you have to give the 1st 5th and 6th digit. Next time it may be the 2nd 4th and 7th etc etc.

Cause I recon their real useful. They are the only way to protect yourself from key loggers. Though im still troubled with going on internet banking while in net cafes, think maybe the key is just to do it as little as possible :x

I don't think it's quite like that, but the same sort of idea.

They say it gives you a unique 6 six digit code that you use to log in (and the device itself has a PIN).

I really like the idea, I just know what I'm like for losing things :/

That sounds like a great idea. I wish my bank did that!

The main idea is that your login has two different passwords, one from you, one from your token. That way, if you lose your token there's not much danger since it's useless without your password. If someone uses a keylogger, it'll be useless in the future because the token's key changes every minute or so. The annoying part is that you can't log in unless you have your token, but I think that's a small price to pay for the security.

It seems the decision has been made for me. We now have to have either the token or use their roughly equivalent SMS service. Since I won't have a mobile with me while traveling I went with the token.

I just hope I don't lose it :/

My bank (Alaska USA Fed Credit Union) uses a mouse-driven key pad for entering my pin.

I would look for this feature in a bank, totally protects from key-logging software.

quote:

Originally posted by Lauren Nicole:
My bank (Alaska USA Fed Credit Union) uses a mouse-driven key pad for entering my pin.

I would look for this feature in a bank, totally protects from key-logging software.

HSBC has the same type "virtual keyboard"...you enter one password via the keyboard, and then a 2nd "security key" via the mouse/virtual keyboard. I think it's really slick.

My other, hometown, bank acct triggers added security if I'm logging in from a different I.P. than normal...so have to answer security questions if I'm not at home. Not quite as foolproof as the virtual keyboard method, but at least provides a little bit of added security.

Anyhow, I really would recommend HSBC, not only for the security but also for the convenience. They have worldwide branches, the best exchange rates when withdrawing foreign currency and none of those "foreign conversion" fees that I have seen from other banks/cards. Additionally, my HSBC ATM card has worked in countries where others have not (Romania for example)

Oh...
and a simple trick I use to protect against keystroke recorders is to keep my passwords in a an encrypted text file on a USB thumbdrive, and copy and paste them. Account information, of course, is not stored on the thumbdrive.

Thanks for the info - but you're talkin' to an Alaskan in a bush village of 75 people lucky to have internet.

What is "HSBC" ? Do you have a link ?

http://www.hsbcusa.com

it's a bank with worldwide branches - I've had an account now for about 1 1/2 years and never set foot inside of one...brave new world

Those dongle things are pretty popular here in Asia. I have 3 of em. Kind of annoying when you're at home, but when I'm on the road, I am SO thankful knowing I'm logging on securely.

I know etrade has dongles if you sign up for one. They have savings accounts so it might be a good option for people in the States!

I had an HSBC account a year ago, the online banking was really hard to use. Which I guess could be a good thing. If I have trouble figuring it out, chances are someone else might too.

Anyways, I use Mechanics Bank now as a travel account. They refund my atm charges. They have a thing where they send an email to you to verify that the computer you are on is safe. Then you can specify for how long you'll be using that computer. I usually opt for 1 day. The drawback I guess, is that your email account can be compromised at the same time too.