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Re:AdultFriendFinder was hacked by vertex-four on Sunday November 13, 2016 @12:59PM (#12944582)
My bank in the UK has two separate things - a password, which I have to enter in the whole, and a "memorable word" which acts as you suggest. I've not seen a bank account which solely uses a memorable word.
Re:AdultFriendFinder was hacked by soVeryTired on Sunday November 13, 2016 @02:01PM (#12944947)
Santander uses selected digits of PIN and selected characters of password, with a numeric user ID.

In fairness to them, they do use 2FA for anything involving moving money around.

Re:AdultFriendFinder was hacked by vertex-four on Sunday November 13, 2016 @09:03PM (#12947017)
Ouch, yeah, Santander. Worst bank in the UK. Everyone I know who uses them has had some really terrible experiences.