So I went to Capitec

[Magandroid]

I prefer the token.

My wishlist for capitec:
1. Have the app for mobile banking and still use the token.
2. Capitec Credit card
3. Auto emailed statements at least once per month

Otherwise I'm quite happy with them.

The token, that's it. For the life of me I just couldn't get to the name.
I also prefer the token as it just feels more secure, especially if u see how the other banks' clients get hit with simswap issues. How secure does the mobile app feel compaed to the token?

 

[Swa]

The token, that's it. For the life of me I just couldn't get to the name.
I also prefer the token as it just feels more secure, especially if u see how the other banks' clients get hit with simswap issues. How secure does the mobile app feel compaed to the token?

The mobile app afaik need to be activated to your account. It's phone based and not sim based.

 

[FlashSA]

The mobile app afaik need to be activated to your account. It's phone based and not sim based.

Correct. New phone, new visit to a branch to get app activated. I am happy with Capitec security.

 

[supersunbird]

Why do you prefer the token? The battery runs flat and you need to purchase a new one and have it activated through the call centre. App gets activated in branch and is free.

My battery has lasted 8 years

I changed my phone a few times in that time (times I haven't had to go to the branch for no other reason) and a phone battery goes flat much faster...

 

[rodga]

My battery has lasted 8 years

I changed my phone a few times in that time (times I haven't had to go to the branch for no other reason) and a phone battery goes flat much faster...

+1 I think 5 years for me
Had 3 phones in that time.

@swa What happens if my cell phone battery is flat, or I have network issues, or the phone is stolen?? Does that mean no access to banking?

 

[Magandroid]

+1 I think 5 years for me
Had 3 phones in that time.

@swa What happens if my cell phone battery is flat, or I have network issues, or the phone is stolen?? Does that mean no access to banking?

That's what I am thinking as well. Also why not have a mobile app that is easier to navigate on your cell which has all the features and functionality as the pc internet app but still use the token for security?

 

[Magandroid]

The mobile app afaik need to be activated to your account. It's phone based and not sim based.

Thanks for this. I was concerned about the sim swap issues that has been hounding the other banks. So if it's phone based then what information do they require that will relate security it to your phone and not your sim?

 

[FlashSA]

@swa What happens if my cell phone battery is flat, or I have network issues, or the phone is stolen?? Does that mean no access to banking?

App can still generate tokens when device is in flight mode. That will allow full Inet banking to continue

 

[ColinR]

The hardwre token is a pain. When making EFT payments, I have to wait for a new token to come around. (Pressing the button too quickly generates the same time based token) and you can only use a token once. With the mobile app. "You want to pay R500 to Bla", press Yes. Done, Next.

 

[TheBadMadMan]

It would appear you guys have not been made aware of the fact that you only need to go in to the bank the first time you activate the cell app. Thereafter you can uninstall and reinstall on different devices quite easily without going in to a branch. Doing so will deactivate the previous install.

 

[FlashSA]

It would appear you guys have not been made aware of the fact that you only need to go in to the bank the first time you activate the cell app. Thereafter you can uninstall and reinstall on different devices quite easily without going in to a branch. Doing so will deactivate the previous install.

Indeed, this is news. When I moved from S4 to S5, I downloaded the app on the S5 and opened it but it did not want to do anything.

Is there a trick?

 

[TheBadMadMan]

Indeed, this is news. When I moved from S4 to S5, I downloaded the app on the S5 and opened it but it did not want to do anything.

Is there a trick?

No trick required. I know this feature is only a couple of months old. I believe around November/December 2015.

I have flashed new roms and reinstalled pretty easily. There are a few confirmations but i cannot remember tbh. What i can tell you is that it is quite seamless.

 

[FlashSA]

No trick required. I know this feature is only a couple of months old. I believe around November/December 2015.

I have flashed new roms and reinstalled pretty easily. There are a few confirmations but i cannot remember tbh. What i can tell you is that it is quite seamless.

Very good to know!

 

[airborne]

No trick required. I know this feature is only a couple of months old. I believe around November/December 2015.

I have flashed new roms and reinstalled pretty easily. There are a few confirmations but i cannot remember tbh. What i can tell you is that it is quite seamless.

It sends your phone an sms which the app uses to automatically authenticate the device, which means a sim swop would be possible for a criminal to do and access your account via the app?

 

[Swa]

+1 I think 5 years for me
Had 3 phones in that time.

@swa What happens if my cell phone battery is flat, or I have network issues, or the phone is stolen?? Does that mean no access to banking?

Well I was specifically referring to the key which is time+salt based. No network needed to use it. As for the rest would need to make sure it doesn't happen.

Thanks for this. I was concerned about the sim swap issues that has been hounding the other banks. So if it's phone based then what information do they require that will relate security it to your phone and not your sim?

The token uses the time with a device salt key to generate the code. The key would be stored in the app and automatically transmitted whenever you do a transaction in the app. On your pc you would need to generate the code on the app.

 

[Swa]

It sends your phone an sms which the app uses to automatically authenticate the device, which means a sim swop would be possible for a criminal to do and access your account via the app?

From what I know when you activate the app they give you a key to enter. If you kept the key you can reinstall it but if not you'll still need to go into a branch.

 

[airborne]

From what I know when you activate the app they give you a key to enter. If you kept the key you can reinstall it but if not you'll still need to go into a branch.

Used to be a branch visit with every new phone/wipe and reinstall but the last 2 times no branch visit needed, I think all it was was entering your user info on the app and an sms is sent that the app auto reads and activates, which means a sim swop would allow a crim who has your log in info full access to you bank account via the app.

 

[FlashSA]

Used to be a branch visit with every new phone/wipe and reinstall but the last 2 times no branch visit needed, I think all it was was entering your user info on the app and an sms is sent that the app auto reads and activates, which means a sim swop would allow a crim who has your log in info full access to you bank account via the app.

Criminal still needs access to your app pin which is different to your card pin so security is not fully compromised by this change

 

[airborne]

Criminal still needs access to your app pin which is different to your card pin so security is not fully compromised by this change

Point is previously a sim swop was not enough as the phone also had to be verified in branch.

 

[Micdew]

I might be wrong but sim swop still not possible. When I wiped my phone and reinstalled I didnt need to go in but after I ported my number to a new network it didnt want me to install the app, I had to go in.