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0 pointsheavyset_go2y ago0 comments

Some banks already require you to install and use apps to approve of transactions made outside of the app.

When I traveled, this is how I was able to spend money without having to call my bank every time I tried to use my card in person.

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clnq2y ago

Why do US banks do that? I’ve never had a UK or EU bank call me to verify a transaction.

Do you have the IdentityCheck/SecureCode/3-D Secure stuff (2FA for online transactions and at certain terminals)? Are these calls for transactions without chip + PIN?

I’ve had some transactions declined while travelling but maybe about 1/1000, and still no call, and nothing the bank support could do to allow them if I called. I’d just have to use a different bank with a vendor. It’s very much a “computer says no” situation then. Otherwise, the payment just goes through in the 99.9% of all cases.

But the banks in central EU, the Nordics, and the UK don’t seem to monitor the transactions I make while travelling to the point that there would be an actual person involved (calling me or reaching out in some other way).

I’m mostly curious about what problem these bank calls are solving. Is it for credit card fraud? In that case, I wonder why this seems to not be a practice in Europe. Is it because we do chip & PIN in physical payments, and 2FA for online/some kiosks?

usrusr2y ago

> I’ve never had a UK or EU bank call me to verify a transaction

That probably just means that you never made transactions that crossed the banks' suspicion threshold. Which might be quite high if the bank is confident that it won't be on the hook for credential abuse and does not care if their customers lose money to identify theft. That confirmation call would be an indication of good service, not of bad service.

I'm not saying that calls would be preferable to better authentication schemes like chip+pin (in skimming is very much a thing though), calls are just another second factor after all. And not even a particularly safe one. But defense should be layered and that layer stack should absolutely contain a form of confirmation call on some level if you are a bank.

treyd2y ago

What are you supposed to do if you don't have a smartphone? My bank simply texts me if there's suspicious purposes and you reply "YES".

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