As insecure as online banking gets...

“As insecure as online banking gets...”

Written on: 31/05/2012 by Blindphew (1 review written)

My partner & I were considering changing to a more ethical bank, after all the rows about unwarranted banking bonuses etc. So she commenced with opening an account with the Co-Op Bank. Everything was fine until she received an e-mail from the co-op asking her to telephone customer services with her personal details & answers to 5 questions to be used for her online banking account. She was concerned that she was expected to give this information to a person, rather than enter them into an encrypted program and e-mailed back to enquire as to why this was the case. After all, if a person takes the information, they enter it into a program & if that was encrypted she should be able to do it & if not, the information is NOT secure... No answer came, so she e-mailed again, and waited... after two weeks, still with no response, we telephoned the co-op helpline to be told they DO NOT respond to e-mails - even though that is not stated anywhere and NOT EVEN to tell you they cannot correspond in that way... As a result, she was unable to check her account and, given there are seemingly ALWAYS glitches in transferring accounts, has been surcharged nearly £100 for refused direct debits... Bad enough, but this because her pension had gone into her old account... Telephoning the Co-op again, she was asked a range of questions that almost anybody who knows her, and certainly anybody who wanted to defraud her, would know.. When she pointed this out to the person on the telephone - because she was unhappy with the security - he hung up on her... So, the Co-Op bank account. Insecure - and if you tell them, they cut you off... It may be ethical in other areas, but not with its customers...