Is It Safe to Bank Online?

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Is not the card reader system used by Nationwide Building Society in the UK by far the cleverest protection against any customer's who bank on line's account being hacked into anywhere in the world? That is because it means nobody other than the customer himself and when he has his card and card reader by his computer, can ever know the entry code to get into his account at that precise minute of that day even if the customer had been foolish enough to divulge his pin and password to someone else over the phone . I just wonder why more banks around the world can not introduce a similarly clever way of protecting their customer's account information and money like Nationwide BS has, or have they?

David 1:54PM June 02, 2013

"As long as consumers report fraud in a timely manner, the law limits their liability to between $50 and $500"...That's too much! I don't want to lose a penny! Until it is completely safe, and until debit cards are as safe as credit cards, I will do no online banking or online purchasing.

Jane Peters of IN 3:27PM January 18, 2013

If you're worried about your bank's online security, check it out at BankLook.com. It's free, easy, and allows you to make comparisons between almost any bank in the US. www.banklook.com

dawson of MD 2:54PM October 26, 2012

No not even a little bit but you are too lazy to call or drive to the bank even if its safer. Convenience over safety.

Jerry Poole of AK 5:02PM March 29, 2012

Is present online banking secure? If yes then you need to see http://news.softpedia.com/news/Expert-Bank-Transactions-Can-Be-Manipulated-Even-if-OTP-Devices-Are-Used-247204.shtml

presentbank of IN 2:08AM February 11, 2012

Capping your online credit card transaction exposure should have been high on this list. If you purchase items online with a credit card it is a good idea to have a low limit credit card kept for this purpose e.g. a Mastercard with a limit of, say, $1,000. This gives you an extra layer of security to that which your credit card supplier may offer because it caps your exposure.
Jack Taggerty
http://www.identity-theft-scout.com/

Jack Taggerty 10:02PM June 14, 2011