You are here: Home - Saving & Banking - News -

Barclays steps up the level of its online security

0
Written by:
18/04/2007

In a bid to counter soaring levels of online fraud affecting its UK current accounts holders, Barclays Bank is handing out chip and pin card readers as part of a new security initiative.

The handheld device, called a Pinsentry, can be used to login to the Barclays website and to make certain types of payments. More than half a million of the bank’s customers will be sent a machine by the end of the year.

A spokesperson for the group said Pinsentry meant that there would now be four levels to online security. To access their account a customer would need their debit card, its Pin number, the customer’s online security number and the device.

Once the customer had swiped their card through the device, and entered their Pin, they would be issued with an eight-digit code, which alters every time the machine is used.

“We are constantly working to help protect customers and the money in their UK current accounts and that is why we have invested in this system,” said Barnaby Davis, director of electronic banking at Barclays. 

“We believe it is going to prove very difficult for anyone to break into this system and interfere with our customers’ UK current accounts,” he added.

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
EDITOR’S BLOG: How safe do YOU feel online?

The time I really started to get worried was when they nabbed the 13-year-old kid who had hacked into the...

Close