Bank's Online Security Initiatives (worth praising)!
December 17, 2006 2:32am CST
I recently received an HSBC online security device from my bank HSBC. They said that it was sent for more security for my online banking and other transactions done online through my card. I was very curious on how it is going to work out. So, I tried it and found it that it could be only one solution for the online security with all these hacking of accounts, hacking banking passwords, etc. The online security device is nothing but you will have a display screen where if you press a button a five digit number will appear on it. For logging into the site of hsbc you need this five digit number as well as your password to login. This five digit number changes randombly and if once displayed the same number will not appear again at all. Hence you need your password and this security device to login to your bank account and hence you have double protection to your account. So, even if someone hacks my password, they cannot login to my account, since they won't be having the security device (and note that other security devices which is not alloted to me will not display a number which mine is displaying and hence you cannot absolutely login to my account at all) hence making one of the best method to use for the online transactions. I feel that other banks should also follow HSBC in helping their customers to protect their account from misuse. What do you say?