Safest internet banking platform?

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Nowhere

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Hi Guys

With all the news the last few days on internet banking fraud, I was just wondering which banking platform you guys think are the safest to use.

I am with ABSA and they send you the One Time Password via sms when creating new beneficiaries. It appears that this system can be bypassed by doing a sim swop then the OTP will go to the crooks.

I am considering a bank change because of poor service which I have been tolerating for way too long and while I am at it I want get safer internet banking platform - if one is available.

Advice and comments will be appreciated...
 
AlphaJohn said:
My vote goes to Capitec because of the token security.

Can we maybe have a poll?
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+1 reminds me i have to go get that token. sucks they dont have an iphone app. but the toekn is extra security so i dont mind.
 
akescpt said:
+1 reminds me i have to go get that token. sucks they dont have an iphone app. but the toekn is extra security so i dont mind.
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They DO. https://itunes.apple.com/za/app/capitec-bank-online/id524380483?mt=8

But you will have to go into the bank to get it set up. Needs a pin code + link to system so its not something you can do without going in.

In some ways I recon the App is better than a token as you need to enter a pin code in the application to get the "number" as for a token anyone can just glance at your keys and get one.
 
Get a linux desktop, do your banking through there. Then you can use any bank, as long as you ONLY use that linux desktop or laptop for banking. However, Capitec and Nedbank have those authenticators.
 
AlphaJohn said:
They DO. https://itunes.apple.com/za/app/capitec-bank-online/id524380483?mt=8

But you will have to go into the bank to get it set up. Needs a pin code + link to system so its not something you can do without going in.

In some ways I recon the App is better than a token as you need to enter a pin code in the application to get the "number" as for a token anyone can just glance at your keys and get one.
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Well, even then it would be only valid for less than a minute, and they need your username and password as well. I prefer the token cause my cellphone battery often runs low and I dont want to be stuck with a flat battery.
 
supersunbird said:
Well, even then it would be only valid for less than a minute, and they need your username and password as well. I prefer the token cause my cellphone battery often runs low and I dont want to be stuck with a flat battery.
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The 548 mW the app use from start to finish to generate a Code is hardly a power drain, esp seeing that you only use it when you wanna log in. I get that you say you might have a situation where you want to bank, your phone might be dead with no USB power close at hand, or that you worried about security of the app but please do not spread FUD saying its a power drain. Hell a simple SMS use more power than this app does.

and Yes I have tested it http://i.imgur.com/urq8eVn.png http://i.imgur.com/OwH3tzq.png
 
AlphaJohn said:
The 548 mW the app use from start to finish to generate a Code is hardly a power drain, esp seeing that you only use it when you wanna log in. I get that you say you might have a situation where you want to bank, your phone might be dead with no USB power close at hand, or that you worried about security of the app but please do not spread FUD saying its a power drain. Hell a simple SMS use more power than this app does.

and Yes I have tested it http://i.imgur.com/urq8eVn.png http://i.imgur.com/OwH3tzq.png
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Didn't say its a powerdrain, so stop that FUD. My whatsapp and browsing is the drain because it makes the screen stay on for a whole lot if time.

Anyway, love my token, its near 5 years old and I recommend the OP switch to Capitec.
 
Is the Capitec token that little thingy that generates a code to use for the transaction? Is it the same as Standard bank's? Does Standard give you the same for private banking - I used it for corporate banking (CATS)?
 
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Another vote for Capitec here.
I used to have the Token generator, now I use the BB app. It's great! You need username, password, app confirmation + app PIN to log in to IB or make payments/changes. Inside the branch they ID you using your card, PIN, thumbprint and photograph.

Even if you have no data connection on your phone, you can still get the app to generate a token password for you that you can manually enter to log in. Generating a token requires the PIN too.

:love: Capitec!

Also: Account balance <R10k = 5% interest. >R10k = 4.25%. Debit Mastercard lets you shop online from your Savings account. Primary account = R4.50 fee per month. You can have 4 sub-linked accounts, free of charge. Each earns you the interest rates listed above.
 
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Problem with Capitec is they do not allow business accounts. Unless that has changed.
 
AlphaJohn said:
For business the other banks like Standard and FNB give out tokens so its a none issue?
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I haven't got one from either Standard Bank or FNB.... but then theyre normal cheque and credit card accounts with them. Do they give out token devices on the business accounts? Can you get them for personal accounts?
 
ghoti said:
I haven't got one from either Standard Bank or FNB.... but then theyre normal cheque and credit card accounts with them. Do they give out token devices on the business accounts? Can you get them for personal accounts?
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Not for personal accounts sorry, well not yet...

I see Nedbank and ABSA are listed as clients over at Entersekt(Same co that did Capitec's mobile app) so who know's we might see em getting the same apps/tokens soon.
 
ghoti said:
Get a linux desktop, do your banking through there. Then you can use any bank, as long as you ONLY use that linux desktop or laptop for banking. However, Capitec and Nedbank have those authenticators.
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Not sure what that has to do with security measures on the banking side though?
 
AlphaJohn said:
Not for personal accounts sorry, well not yet...

I see Nedbank and ABSA are listed as clients over at Entersekt(Same co that did Capitec's mobile app) so who know's we might see em getting the same apps/tokens soon.
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Im never going to bank at ABSA, so no worries there, and I have enough millions to pay for the bank charges at Nedbank :D

But just to be clear, you do get the token generators for FNB business account?
 
ghoti said:
Problem with Capitec is they do not allow business accounts. Unless that has changed.
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You can open a "named" account to use for business purposes and as far as accounting goes it's treated as a loan account. Depends on how big your business is, but for small businesses it works. It doesnt have it's own card, though - just a linked savings account.
 
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