Is it this easy? (ABSA related question)

blunomore

blunomore

Honorary Master
Joined
Jul 8, 2007
Messages
26,789
Reaction score
22
Location
Not yet CT ...
I have a power of attorney on my husband's cheque account at ABSA.

I called in to query a deposit and they said the only way I can be helped over the phone is if he is registered for telephone banking for his account.
AT NO STAGE DURING THIS FIRST CALL DID THEY ASK ME TO IDENTIFY MYSELF AS THE HOLDER OF THE POWER OF ATTORNEY IN ANY WAY BY MEANS OF ID, FULL NAMES, ETC.

I was transferred and did the registration telephonically - not with a call centre agent, but with voice prompts.

All they wanted me to enter was his account number, his ID number and a self-created PIN and voila! I was able to do normal telephone banking and go through to an agent to query transactions on the account.

Surely this means I can create telephone banking and transact on someone 's account (provided the account holder have not set it up yet) if I have their account number and ID number .... severe lack of banking security ???
 
But it would be IMPOSSIBLE for anyone else to know both his account number and his ID number!
 
rorz0r said:
But it would be IMPOSSIBLE for anyone else to know both his account number and his ID number!
Click to expand...

I think that is one of the simplest things to find out about someone. Example: Our clients have our account number (since they pay us!) and his ID will appear on their database of suppliers.
 
blunomore said:
I have a power of attorney on my husband's cheque account at ABSA.

I called in to query a deposit and they said the only way I can be helped over the phone is if he is registered for telephone banking for his account.
AT NO STAGE DURING THIS FIRST CALL DID THEY ASK ME TO IDENTIFY MYSELF AS THE HOLDER OF THE POWER OF ATTORNEY IN ANY WAY BY MEANS OF ID, FULL NAMES, ETC.

I was transferred and did the registration telephonically - not with a call centre agent, but with voice prompts.

All they wanted me to enter was his account number, his ID number and a self-created PIN and voila! I was able to do normal telephone banking and go through to an agent to query transactions on the account.

Surely this means I can create telephone banking and transact on someone 's account (provided the account holder have not set it up yet) if I have their account number and ID number .... severe lack of banking security ???
Click to expand...

Are you able to transact to non pre defined accounts on telephone banking?
I think you might be able to do transfers between his accounts, and possibly even beneficiaries..but i dont think you can setup new transactions.
I could be wrong though
 
blunomore said:
I think that is one of the simplest things to find out about someone. Example: Our clients have our account number (since they pay us!) and his ID will appear on their database of suppliers.
Click to expand...

Agreed, it would not take anyone very long to get both of those details
 
Yeah that does sound like a bit of a security risk to me :wtf:
Ill contact ABSA and see what they say...
 
tau1z said:
Are you able to transact to non pre defined accounts on telephone banking?
I think you might be able to do transfers between his accounts, and possibly even beneficiaries..but i dont think you can setup new transactions.
I could be wrong though
Click to expand...

Not sure of that, since I only used it to get through to an agent to query a deposit. Which, by the way, is another archaic invention of ABSA: you can only talk to a REAL LIVE CALL CENTRE agent if you registered for telephone banking, which is actually meant to help you do transactions WITHOUT the help of a human being .... weird !
 
tau1z said:
Are you able to transact to non pre defined accounts on telephone banking?
I think you might be able to do transfers between his accounts, and possibly even beneficiaries..but i dont think you can setup new transactions.
I could be wrong though
Click to expand...

You have to go in to the bank to add a beneficiary.
 
blunomore said:
I have a power of attorney on my husband's cheque account at ABSA.

I called in to query a deposit and they said the only way I can be helped over the phone is if he is registered for telephone banking for his account.
AT NO STAGE DURING THIS FIRST CALL DID THEY ASK ME TO IDENTIFY MYSELF AS THE HOLDER OF THE POWER OF ATTORNEY IN ANY WAY BY MEANS OF ID, FULL NAMES, ETC.

I was transferred and did the registration telephonically - not with a call centre agent, but with voice prompts.

All they wanted me to enter was his account number, his ID number and a self-created PIN and voila! I was able to do normal telephone banking and go through to an agent to query transactions on the account.

Surely this means I can create telephone banking and transact on someone 's account (provided the account holder have not set it up yet) if I have their account number and ID number .... severe lack of banking security ???
Click to expand...
When you say self created PIN, did you create the PIN right then and there? Otherwise I guess they think the combination of PIN, names and ID is secure enough?
 
blunomore said:
The fact remains that an existing beneficiary (with mala fides) can register telephone banking and transfer money to themselves.



Yes
Click to expand...

I agree its slack! However, if you have already registered with telephone banking its not an issue?
And dont you get sms notifications etc when telephone banking gets activated?
 
tau1z said:
I agree its slack! However, if you have already registered with telephone banking its not an issue?
Click to expand...

Which is why I specifically said that this is pathetic banking security in cases where the account holder has not set up telephone banking ;)

And dont you get sms notifications etc when telephone banking gets activated?
Click to expand...

Interestingly enough, all the SMS alerts on my husband's account transactions come to my cellphone number ... and I received no alert when telephone banking was created this morning.
 
OP must have a very confident sounding voice over the phone if that's all it took! :D
 
Garyvdh said:
OP must have a very confident sounding voice over the phone if that's all it took! :D
Click to expand...

I read law, remember. Let's just say I have a certain way with the spoken word ;)

That, and the fact that ABSA's call centre agents are not exactly rocket scientists.
 
Telephonic CSP (Customer selected PIN) will not be the same as the card's ATM pin, for any cards linked to that account. I have not registered personally, but this is my experience testing and using different channels for banking
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X