Barclays and NatWest fiasco – has it shaken your trust in banks?

Online banking?
Zeus virus, and no they don’t tell you about it!

Interesting – been using on-line banking 20 years – never had a virus – EVER – so another scare for the computer illiterate? As I said I check my account almost daily.

Additional;

Zeus

True to its Trojan roots, Zeus (aka Zbot) comes disguised in an email. It might be as innocuous-seeming as a LinkedIn request or it could purport to warn the recipient of a problem with their financial information and offer help. No matter, the link within leads to their exposing their financial information. Once a system is infected with Zeus, passwords are collected, keystrokes are logged, and legitimate forms can be compromised with the addition of extra fields designed to nab information.

Note – Only computer unaware people open unsolicited e-mails OR connect to such links. It is called good internet practice and something I used to teach to my computer studies classes years ago – My Bank (First Direct) actually warns us not to do so continuously

@Richard.
Now take a look at how the banks tried to hide this virus when it first appeared and what they initially told customers who had monies taken from their accounts. We are discussing banking honesty here, not what you refer to as computer illiteracy.

Many people who use online banking today are from a generation who did not ‘grow up’ with this technology, and indeed are relatively new to it, whilst getting to grips with the rapid changes to the way our banking is carried out, they do require security and protection, and most importantly transparency and honesty from the banks.

What you appear to be doing is exactly what the banks do, blame the customer for it’s own inadequacies. If the instillation of a Trojan horse can compromise your account, then the banks should provide a quality anti virus package when you open an on line account, [cheap for the banks and a damned good sales strategy].

Many years ago I was a victim of white card fraud, the bank denied this existed and told me my wife had taken my card and robbed my account, I proved them wrong and got £900 in compensation for them lying to me, things still haven’t changed

M

Actually First Direct DOES offer a software solution to it’s customers. – I honestly haven’t found it actually lacking transparency or for that matter honesty.

But as I said before I don’t trust Banks generally – I don’t believe they are generally honest either – but many businesses aren’t too I do not think they will be trustworthy until they split the casino bank parts off and they become a service again. When I discovered the Midland Bank removed money from my account as “sundries” and when I asked “what sundries?” they refused to explain but gave me a refund – I left and joined First Direct (I didn’t realise they were connected) but First Direct is really excellent.

I firmly believe that everybody should be responsible with their money – too many are not – (and why I taught “budgeting” at school to the less able) – and that includes good Internet practice. That is why I check my balances at least weekly – and why I love Internet banking I can see it “Live”.

Computer illiteracy (and sometimes laziness) is the reason why I run OAP computer “classes” at my OAP club because I know that unlike me (who also did not “grow up with this technology” – I’m over 80) many haven’t a clue, I try to overcome that cluelessness.

I agree that Banks should be honest, helpful and open – but under this present regime I doubt it will happen.

@Richard
We both [and 99% of the population too I believe] don’t trust banks, the degree is how much. I personally do not use online banking as I do not trust them at all, maybe my mistrust has evolved into bankaphoboia 🙂

I remember the launch of first direct it was an innovation then and I am sure they do their bit to protect the customer, but however hard they try, the banks have gone too far down the criminal path to ever be trusted again. I have my bank managers home number and address in my diary [just in case].

Financial responsibility is a desired trait and I agree we all need to be, but once again we rely on those ‘experts’ to advise us, and as we have found out with the ‘mis selling fiasco’ the experts lie too.

I applaud what you are doing, as our age group is heavily targeted by all these spivs and nerdowells and we need all the help we can get. I would like to see a specialist golden account for pensioners which pays a greater interest rate and additional benefits aimed at this group, with the appropriate security. I have seen some ‘products’ aimed at us and all they seem to be doing is trying to get hold of any property we have.

M

In all honesty the reason I like First Direct is because I can check my accounts daily if I want to – with broadband this is completely free – whereas an ordinary bank will cost you for the phone call to the bank. Plus I can manipulate my accounts 24/7 – A vast improvement on standard Banks. It is also better than keeping the money under the bed.

I too would like a “golden account” for pensioners but with this government it won’t happen. There is no doubt that OAPs are a prime target as too many are too easily persuaded to part with their money. – Again that is the reason I run help “classes” at the OAP club to help our club members to guard against fraud and cons designed to remove them from their money – and help with budgeting as so many of us are now living below the poverty line.

I am removing mine slowly and using the cash for “projects”