So I went to Capitec

[supersunbird]

And what’s the problem? It’s infinitely more secure and covers both them and their customers all in house with no third party holes in the process.

Also covers you for when held at gunpoint and made to do transfers on ones phone?

 

[Stokstert]

So you're saying that there is people out there, confident enough to do online purchases, but not confident enough to use the app?

I just don't want to have all my banks and their apps on the phone for security reasons. If one is highjacked all the bank accounts can be cleaned at once just by a gun to your head.
Without the apps on the phone they would not know about any of your banks. For that reason I have only one banking app without much money in the account.

 

[SauRoNZA]

Also covers you for when held at gunpoint and made to do transfers on ones phone?

And how would SMS solve that?

Goal posts running away now.

 

[kevin42]

I just don't want to have all my banks and their apps on the phone for security reasons. If one is highjacked all the bank accounts can be cleaned at once just by a gun to your head.
Without the apps on the phone they would not know about any of your banks. For that reason I have only one banking app without much money in the account.

I kept an old phone after upgrading and put all my banking apps on that and use Google Pay on the new phone in an attempt to mitigate such a situation.

Bigger problem if they fined the 9mm in my waist though...

 

[Stokstert]

I kept an old phone after upgrading and put all my banking apps on that and use Google Pay on the new phone in an attempt to mitigate such a situation.

Bigger problem if they fined the 9mm in my waist though...

You must be prepared and use it before they can lay their stinking hands on it.

 

[Stinkbeaver]

Clearly most people here have no idea the kind of crime we are dealing with in this country. Those guys don't believe anything you say, They want blood. All they want is money and don't care were you get it.

When you fall into that predicament, better pray or do what ever you believe in because you are literally walking valley of the shadow of death.

I have seen them kill someone because they said he left his smartphone home to avoid being robbed.

 

[Smiggles]

I use a backup phone but have no illusions. If they want to kill you they will. These criminals are savaged scum of the earth.

 

[MoHaG]

So you're saying that there is people out there, confident enough to do online purchases, but not confident enough to use the app?

Well, or don't want to carry a phone for privacy or mental health reasons, or had Google ban their account for posting too many emojis on a livestream on Youtube.

SMS is insecure, but TOTP exists, the hardware tokens exist - the app is not the only more secure option.

 

[supersunbird]

And how would SMS solve that?

Goal posts running away now.

No Capitec app on my phone, they would have to settle for the money in the other apps.

 

[supersunbird]

Well, or don't want to carry a phone for privacy or mental health reasons, or had Google ban their account for posting too many emojis on a livestream on Youtube.

SMS is insecure, but TOTP exists, the hardware tokens exist - the app is not the only more secure option.

Yeah, they could just link the MFA for online purchases to the hardware token.

 

[Smiggles]

Well, or don't want to carry a phone for privacy or mental health reasons, or had Google ban their account for posting too many emojis on a livestream on Youtube.

SMS is insecure, but TOTP exists, the hardware tokens exist - the app is not the only more secure option.

TOTP is being replaced by Passkeys…

 

[SauRoNZA]

No Capitec app on my phone, they would have to settle for the money in the other apps.

Or you know simply force you in front of a laptop and then use the SMS to make you do things.

All comes down to exactly the same thing.

 

[airborne]

I guess I will be using the other banks credit card for online purchases.

Most banks require app confirmation for online purchases, which ones don't at this point?

 

[supersunbird]

Or you know simply force you in front of a laptop and then use the SMS to make you do things.

All comes down to exactly the same thing.

They don't use (and never used) SMS to authenticate online banking, hardware code generator or app only.

SMS was used for approving online purchases.

 

[SauRoNZA]

They don't use (and never used) SMS to authenticate online banking, hardware code generator or app only.

SMS was used for approving online purchases.

So then I see even less of a problem....

Fabricated drama is all it really is.

 

[supersunbird]

So then I see even less of a problem....

Fabricated drama is all it really is.

It's a change we didn't ask for or need, I didn't need nor want the app on my phone. Capitec is the only one losing out at this time in my case, until I figure out a method to hide it away decently.

 

[robinsonia]

It's a change we didn't ask for or need, I didn't need nor want the app on my phone. Capitec is the only one losing out at this time in my case, until I figure out a method to hide it away decently.

Im considering switching to a dumb phone and only using my Pc for the rest. I’d have to own a smartphone just for the bank. Not the worst I guess.

 

[MoHaG]

TOTP is being replaced by Passkeys…

Passkeys makes sense for one device, TOTP is useful on multiple devices. (some passkey holders can sync)

Hardware FIDO2 tokens would also be useful to support, but many things supports JUST passkeys without the FIDO token (they share a protocol / API - haven't dug enough...) (Yubikeys are expensive though)

 

[MoHaG]

They don't use (and never used) SMS to authenticate online banking, hardware code generator or app only.

SMS was used for approving online purchases.

They do use it for 3D Secure validation if you don't have an app configured. (and they have shown that they have more secure alternatives, like the hardware tokens)

 

[Smiggles]

Passkeys makes sense for one device, TOTP is useful on multiple devices. (some passkey holders can sync)

Hardware FIDO2 tokens would also be useful to support, but many things supports JUST passkeys without the FIDO token (they share a protocol / API - haven't dug enough...) (Yubikeys are expensive though)

Works across all my devices.