Re:Site requests bank logins for online purchases
by 1ris on Wednesday November 16, 2016 @09:26PM
(#12973713)
The second factor is the one time password. You get ~200 by snail mail and need one for each transaction. So you only give up control for one transfer. But yes, indeed, this is insane.
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Re:Site requests bank logins for online purchases
by duskwuff on Wednesday November 16, 2016 @10:47PM
(#12974064)
So you need to order new passwords if you're making a lot of online purchases? That seems even more insane, really.
Re:Site requests bank logins for online purchases
by chrisper on Wednesday November 16, 2016 @11:10PM
(#12974175)
You do not have to use that service and there are also electronic versions of a one-time-password generator.
Re:Site requests bank logins for online purchases
by ctpide on Wednesday November 16, 2016 @11:06PM
(#12974147)
Many banks now actually provide code generators, but yes in the past you would receive new codes every so often.
Re:Site requests bank logins for online purchases
by ThePadawan on Thursday November 17, 2016 @04:15AM
(#12975782)
Generally, as the bank also tracks the rate at which your passwords get invalidated (by being used), they will automatically send you a new sheet when there are only ~20 remaining on your current sheet.
Re:Site requests bank logins for online purchases
by rak00n on Wednesday November 16, 2016 @11:37PM
(#12974317)
What if snail mail gets stolen?
Re:Site requests bank logins for online purchases
by kybernetyk on Thursday November 17, 2016 @04:32AM
(#12975872)
In theory nothing bad happens as the person with the snail mail code list still needs your login/password to issue money transfers.
But then again ... you just handed your banking credentials to some shady fintech startup.