Online banking card readers

[Prudie]

How on earth do these work? So you put your card in the reader and pin, it returns with an 8 digit number (different every time) which you then enter on the bank log-in page to access your account. How does the account recognise the number? The card reader doesn't appear to have any wireless capability or does it?

[factor-fiction]

Probably based on algorithm involving prime numbers. I think the 8 digit number includes elements of the sort code and account number of the recipient account

[boxtops]

We won't use ours, Prudie, we still enter our passwords etc on the screen. When we tried to get ours to work, it messed up the whole of our setup - so we told the bank we don't want it.

[MarkRae]

http://www.google.co....rceid=chrome&ie=UTF-8

[sherrardk]

I've just been sent one but my online banking thing hasn't asked me to enter a special number, I just enter elements from my security questions.

[katburd]

every time I use mine, I think to myself, that's amazing

[silliemillie]

I use mine all the time, Barclays wont let me log in without it. Still dont know how it works tho.

[Hopkirk]

I asked the same a while ago.

Does this help?

http://www.theanswerb.../Question1059480.html

[chrissa1]

I'm only asked to use mine when I'm transferring some money to someone I haven't sent money to before. It's easy peasy.

[rsvp]

my understanding is that I'm supposed to use mine when I'm using on line money transfer to a company/person I haven't dealt with before. Existing contacts have somehow been checked out. Having said that, can't guarantee that's correct - it's just my understanding of the system

[Prudie]

I'm with Barclays and it won't let me on without it. Thanks for the links, I'll look at them now.

[Prudie]

Right first I see Mark has told me what their correct name is :-)

[gingejbee]

I have been using one for ages with Barclays and have never had a problem. Incidentally, Prudie, you do know that you can get free Kaspersky Internet Security suite with Barclays online banking?

[deggers316]

sherrardk you just enter YOUR pin number

[Prudie]

I didn't know that gingebee thnks i'll investigate.
Best answer was a toss up between factor and hopkirk but on balance factor has enough already.