Do you have a Nationwide Flexaccount if so read this

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Below has been copied from Nationwide website.

Internet Banking News

Important security information for FlexAccount Visa debit card holders

During March and June 2008 we’re introducing Card Reader Security for customers who have a FlexAccount Visa debit card. This gives you an extra layer of protection when you carry out certain transactions using our Internet Banking service.

If you’re affected by these changes we’ll write to you nearer the time and send you a Card Reader.

In readiness for this change, we may need to replace your existing Visa debit card, even if it’s not due for renewal. If your Visa debit card was issued before November 2007 you’ll get a new one by the end of May 2008.

Find out more about Card Reader Security and our Visa debit card replacement programme.

If you don’t have a Visa debit card don’t worry, you’ll still be protected by Security Questions.

Richard Searle
Head Of Electronic Channels

Message updated 4 February 2008
 
Barclays did it a year ago and our Dutch bank issued us with a card reader when we signed up to them 11 years ago.

It's a big improvement on the password system and has already saved us from an identity theft attempt (Barclays).
 
Hi The point is- If you are away from home during the re issue will you have access to your money when they cancel your old card. We will need to arrange to have the new cards sent to the Carribean. I could of course not pass on the information and watch the poor sod at the ATM moan that his card no longer works. If you have had that happen to you, you would get the point.
 
ok, I am a flexaccount holder currently living onbard in the US, how ever my a/c address is at my daughters and that's where the card will go and is where I will either pick it up or have her DHL it to me. Anyone with a Nationwide a/c and living overseas should surely have some kind of web access to their a/c and will have seen this notification when they access it. Anyone who doesnt, probably doesn't read this.
However, point taken.
 
thanks for the info, i have just come back from england and must admit, i didnt know this,- so once again thanks for bringing it to our attention...we get the point...
 
For those that havent seen these, they really are simple to use (I am a bear of little brain), just pop the card in and follow the screen prompts.
Seems like a bit of a faff when you first have to use it, but in reality it does not slow you down much, and adds a considerable security barrier on any payments to be made from your online account.
 
Ho hum - we're in NZ and won't be back in the UK till April so if there's a time limit on activation in March we won't get it, so will contact NW to sort this out. Many thanks for bringing to our attention (being outside the EU we're not using the account much right now.)
 
Additionally

When will I need to use my Card Reader?

When using our Internet Banking service. You may be asked to use your card and Card Reader when you:

* make a payment to a third party
* set up or change a single or regular arrangement to a third party
* view a PDF of your statement
* change your memorable data or passnumber
 
From the website

If you don't plan to come back to the UK before 31 May 2008 please contact us on +44 1793 656789 quoting reference RCA. Because we may have sent a new card and Card Reader to your home address during this time, you may be prevented from doing certain transactions with your Visa debit card. If this is the case we can discuss alternative arrangements with you for the time you're abroad.

I will be travelling abroad between 25 March and 31 May - what do I need to do?

If your existing Visa debit card was issued before November 2007, and you'll be travelling abroad for 3 weeks or more from 25 March 2008, please contact us on 08457 30 20 10 quoting reference RCA. We'll need to send you a new Visa debit card before you go away, and if you want to use Internet Banking whilst abroad you may also need a Card Reader to carry out certain transactions.
 
Hi Dave and Emma,

I'm not a NW customer but I guess the others will follow and I've never heard of anything like that before. Is this a card reader than you plug into a USB port as a sort of dongle to access the internet banking service?

David
 
Barclays are now using them for mainland-based accounts (not Channel Isles accounts). No dongle, no connections at all, it's a stand alone card reader, battery powered and Barclays say the battery should last ten years. To use it you put the card in the appropriate place /forums/images/graemlins/smile.gif and follow the instructions and basically the card reader issues you with a code to enter into the internet bank log in page instead of a code word. The code is randomly generated and there is no connection between reader and computer.
 
So a lady keeps her reader in her handbag along with her purse, which is stolen. The thief now has complete access to her bank account? The point about a password is that it is memorable and not written down or otherwise obtainable other than by word of mouth. What benefits do they see in this scheme?
 
Normally the smart card has an associated pin to access the authentication service on the card. The card and reader is usually only needed for payments so you still need a memorable password to access your account online. Once your logged and go to make a payment your challenged with a code, which you enter into your reader (with card inserted) and your pin already keyed into the reader. The reader dispays another number linked to the challenge and your card. Therefore if your web based password is compromised only you holding the card (the one issued to you) and knowing your pin can make a payment.
 
[ QUOTE ]
So a lady keeps her reader in her handbag along with her purse, which is stolen. The thief now has complete access to her bank account? The point about a password is that it is memorable and not written down or otherwise obtainable other than by word of mouth. What benefits do they see in this scheme?

[/ QUOTE ]The simple answer is to keep the card reader out of the handbag. That's easy enough because mostly transactions are done on the PC on the boat, using a marina wifi. If the wifi should be rigged to intercept information, this way the thieves ought to find it much harder to use.

One advantage will be with internet cafes, in some places the only way of getting access. In the past I've been fearful of entering bank information in one of these, knowing their PCs often have key-stroke recorders running which would store password details. But it should be much safer with this type of operation.
 
Thanks for explaining that, guys. It does sound like an improvement in security.

So one should ask for (and pay for?) a spare reader? A spill of water or any kind of an accident could render you without access otherwise.
 
yes!
its been on their web site a few weeks. got to reading it the other day.
the crux of the item is:
"if your Visa debit card was issued before November 2007 you’ll get a new one by the end of May 2008."
answer:
report it as stolen and your new card will be the latest issue.
 
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