Any card reader experts around, please?

[NealB]

I'm not sure whether to ask this on the PBO forum or in the Lounge, but it relates to a boat, so I'll try here (and it makes a change from water pumps).

It's looking as if, out of the blue, we've sold our motor-boat (yeah ..... almost back to single-ship ownership!).

An offer was made, that offer was accepted, a deposit was received and no survey is involved: so there's only the balance to be paid, and the deal will be complete.

The buyer is keen to complete tomorrow, then take her away on Monday.

The potential problem is that he forgot to bring his card reader, and couldn't get a banker's draft today.

Hmmmmmm ........ so ...... would he able to make an online transfer using my very basic card reader?

I've only ever used it at home, where the same reader works happily enough across several different banks.

Is there any reason why it wouldn't work on someone else's account, and in a fairly remote boatyard?

 

[anoccasionalyachtsman]

D'you mean the code generator jobby that you use for your bank? My Nationwide and daughter's Barclays certainly look identical (bar the branding) - I've always meant to try it, but can't until Sunday.

 

[Wing Mark]

Can they not telephone their bank and make it happen?

 

[[70521]]

Can the buyer not take you to the bank on Saturday morning and get used £1 £5 notes?

 

[NealB]

D'you mean the code generator jobby that you use for your bank? My Nationwide and daughter's Barclays certainly look identical (bar the branding) - I've always meant to try it, but can't until Sunday.

Yes, exactly like this:

bank card reader at DuckDuckGo

 

[harvey38]

I'd be very wary, I know RBS used to have such a device when I was with them some time ago but can't believe that digital banking being so advanced, they cannot just use an online banking app and transfer the funds.

I'm casting no dispersions.........but I am also a Cynic!

 

[NealB]

Can they not telephone their bank and make it happen?

I don't know what the problem is.

 

[NealB]

Can the buyer not take you to the bank on Saturday morning and get used £1 £5 notes?

Certainly, my own bank would not do that for the sum involved (we're not talking millions, but we are talking fairly serious-ish money).

PS why "used"? Crisp and fresh will do fine.

 

[anoccasionalyachtsman]

Just saw this elsewhere

"I have a Barclays one. Thought I'd try other cards in it:

First Direct: Fine
Lloyds: Fine
Halifax: Fine
Santander: "This Card is Not Valid". "

 

[NealB]

I'd be very wary, I know RBS used to have such a device when I was with them some time ago but can't believe that digital banking being so advanced, they cannot just use an online banking app and transfer the funds.

When I make an online payment with my own bank, my bank sends a code to my card reader (no idea whether through wifi, or mobile network, or?), I then enter that code to the bank's web site, online.

 

[NealB]

I'm casting no dispersions.........but I am also a Cynic!

I'm very confident that it's a minor hiccup, that can be easily resolved (it certainly will be if my card reader does the business).

 

[anoccasionalyachtsman]

When I make an online payment with my own bank, my bank sends a code to my card reader (no idea whether through wifi, or mobile network, or?), I then enter that code to the bank's web site, online.

No, the card reader is quite dumb, it doesn't talk to the banks, just reacts to your button pushes - albeit in a verrry cunning way!

 

[NealB]

No, the card reader is quite dumb, it doesn't talk to the banks, just reacts to your button pushes - albeit in a verrry cunning way!

Thank you for clearing that one up!

But ..... where does it get the code from, if not from the bank?

 

[dunedin]

Yes, exactly like this:

bank card reader at DuckDuckGo

That is a fairly generic device. Depends on the other bank, but a sporting chance of it working. The card reader doesn’t need Internet signal, but the banking App will.

PS. Per your later question, again it will depend on bank - but with RBS /NatWest the payment function on the banking application gives you a number that you need to key into the device (after first putting in a correct PIN), and then key the number back into the banking application. With RKBS / NatWest part of the challenge number given includes part of the account code being paid to. By checking this to the account code you think you are paying, it can avoid “man in the middle” infiltration on the computer.

 

[mrming]

Thank you for clearing that one up!

But ..... where does it get the code from, if not from the bank?

AFAIK there’s an encrypted routine hard coded into the reader. The bank knows the formula, so they can compare their result to the one the card reader outputs. If the two match - security cleared.

 

[NealB]

That is a fairly generic device. Depends on the other bank, but a sporting chance of it working. The card reader doesn’t need Internet signal, but the banking App will.

AFAIK there’s an encrypted routine hard coded into the reader. The bank knows the formula, so they can compare their result to the one the card reader outputs. If the two match - security cleared.

Thank you dunedin and mrming, for confirming my own thoughts and hopes!

 

[dunedin]

I'd be very wary, I know RBS used to have such a device when I was with them some time ago but can't believe that digital banking being so advanced, they cannot just use an online banking app and transfer the funds.

I'm casting no dispersions.........but I am also a Cynic!

Again will depend on bank, but RBS / NatWest have a lower payment limit on a new payee set up using the mobile app than one setup via the online banking plus the card and reader (card and reader can’t be used on their own). Not sure what is today, but think possibly used to be £1k and £20k.

 

[anoccasionalyachtsman]

Thank you for clearing that one up!

But ..... where does it get the code from, if not from the bank?

It reads the chip on your card - which knows everything - and then once it's checked that you know your pin it turns that into a number that the bank will recognise. That gets you logged in, and it's much the same process for the other functions.

 

[westernman]

The card readers are all the same.
I use a French one with my English bank account.

 

[anoccasionalyachtsman]

Again will depend on bank, but RBS / NatWest have a lower payment limit on a new payee set up using the mobile app than one setup via the card and reader. Not sure what is today, but think possibly used to be £1k and £20k.

Very good point. I get round that by sending the seller £1 the day before (or vice versa). @NealB you need to get him to do that.