IT and on-line banking concern!

  spuds 13:52 23 Oct 2010

This is just a matter for discussion as to what the views of other members of the forum might be.

We are constantly being told that the only way forward is going to be on-line banking for all our needs, and everyone should be computer savvy.

Since April 2010 I have had the problem of not being able to pay two credit card statements at the same time with the same credit card company, due to what appears to be issues with a safeguard verification process. Each statement payment process as to go through as a separate transaction via login and log-out procedure. This can take some considerable time to complete the final payments, before the verification process clears via login and log-outs.

Having been in consultation for the past 4/5 months with the credit card company, with many templated replies, they have now admitted "this is a known problem and issue, but we currently do not have a timescale on a resolution to this matter".

Perhaps the recent National Euro Lottery fiasco of clearing payments, is something very similar. In that particular case, they soon picked up the problem and corrected same.In that incident it appeared to be the volume of people trying to purchase lottery tickets at the last minute.

Whats your views to the above, and on-line banking or payment clearing in general. Have you received a negative response in resolving an on-line problem?.

  jack 15:53 23 Oct 2010

in a word - Don't
Systems problems as described by spuds.
Security issues with phishing and the like.
Every time a new security device is announced it is busted in short order.
I have a special Visa card with a very low limit for E-purchases, and even here a new safety panel has recently started to come up to name my favourite special word[linked to my issuing bank I think.
I'll stick to over the counter and telephone me thinks.

  Forum Editor 16:16 23 Oct 2010

there can be no 'security issues' for you as far as online banking is concerned, provided you exercise a degree of normal common-sense. Your bank will protect you from fraud, so if someone manages to compromise your account you will be immediately reimbursed by the bank.

As for "I'll stick to over the counter and telephone me thinks." Telephone banking is far less secure than the online kind, and over-the- counter banking is fine, as long as you don't mind travelling to a branch and waiting in a queue.

Give me online banking any day - it's more secure and more convenient than any other form.

  Blackhat 16:37 23 Oct 2010

I have used online banking for both business and personal use for many years, never yet had a problem. Great for money transfers, bill payment and checking transactions. I have to monitor my 2 business accounts hourly during office hours and could not do this without online banking.

  spuds 16:42 23 Oct 2010

Mines that secure and convenient that it won't let me pay my credit card statements without a long delay in doing so. When it takes a international credit card company of very long standing 4/5 months to admit to a problem which "we currently do not have a timescale on a resolution to this matter", that gives out messages of total confidence- I think not!.

As I mentioned in my intro, the problem was not there before April 2010, then suddenly it appeared after an essential maintenance message. On contacting the credit card they do not have an answer as to why, or what they are doing or going to do about it.

Banking on-line is perhaps a saviour for many people, and I am all in favour for making life easier, but when things go wrong then you expect the professionals to know most if not all the answers, and its only when things go wrong that you find the failures, which may or may not have serious consequences, which the banks may try and ignore?.

Not having a rant but perhaps laying out a few observations!.

  johndrew 16:48 23 Oct 2010

I totally concur with jack; no system is secure enough for me to allow my details (and what little money I have) to be at risk - I include telephone banking in this.

A bank may well 'protect' you from fraud, but getting a refund, new account, sorting out direct debits, pension and income payments is not worth the hassle. I would far sooner stand in a queue for a few minutes to perform whatever transaction is necessary. To keep tabs on accounts a simple, free home accounting program will keep things pretty much in order to allow me to know how I stand.

Having said all that, I will still use my credit card to buy online and over the 'phone with those I know to be trustworthy; I consider that a risk worth taking.

  BT 17:06 23 Oct 2010

I have online banking with Barclays and have absolutely no problem with paying several Credit Card accounts.
Each account is set up as a payment option with the appropriate account number, as are my Utilities, and I just have to select which one I wish to pay, how much to pay them and when.
I'm then given the option to check my inputs and confirm my wishes, and the payment is made. Takes just a couple of minutes at the most.

As FE says its most convenient. The only time I have to visit a branch is to pay in cheques. I've been using Barclays Online almost since the day it was first introduced, without any problems. I can check my accounts as often as I wish and with the PinSentry device its probably as secure as it can be.

  jakimo 17:08 23 Oct 2010

"Give me on-line banking any day - it's more secure and more convenient than any other form"

I could not agree more,Ive been using two on line banks since the mid 1990s,enjoying the benefit of a 24\7,secure visual access to my accounts,all at just the touch of a keyboard...and do not miss the joy of queuing one little bit.

  finerty 17:46 23 Oct 2010

I wouldn't touch it with a barge pole due to to much crime on the internet such as fraud banks cant guarantee protection and many id are stolen.

The banks will be quick to blame someone else if something goes wrong not the themselves.

Hey Jakimo how are the mice still partying.

  Forum Editor 18:04 23 Oct 2010

"banks cant guarantee protection"

Did you not read what I said earlier? Your bank will absolutely guarantee that any money taken from your account illegally by a third party will be repaid without delay. You'll only lose money if you act irresponsibly - by giving someone else your account access details for instance.

  spuds 18:08 23 Oct 2010

I think we have discussed this before in another thread, and if I remember correctly, your method of payment was different to the way I pay mine. I use the credit cards company payment facility and not direct payment from my bank, using Barclays Added Protection Visa Verification not PinSentry.

The system of how much to pay and when, plus confirm is the same basically, but the security and protection is different. It would appear that the software between the packages is different so causing a confliction error until it is cleared by logins and log-outs, which can be very time consuming.

The point being of my concern, is that the method I pay was suggested by the credit card company concerned. Now they do not seem to have a solution of correcting the 'known' matter.

This thread is now locked and can not be replied to.

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