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Online banking card readers

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Prudie | 19:51 Mon 29th Oct 2012 | How it Works
14 Answers
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?
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I asked the same a while ago.

Does this help?

http://www.theanswerb.../Question1059480.html
20:44 Mon 29th Oct 2012
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
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.
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.
every time I use mine, I think to myself, that's amazing
I use mine all the time, Barclays wont let me log in without it. Still dont know how it works tho.
I asked the same a while ago.

Does this help?

http://www.theanswerb.../Question1059480.html
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.
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
Question Author
I'm with Barclays and it won't let me on without it. Thanks for the links, I'll look at them now.
Question Author
Right first I see Mark has told me what their correct name is :-)
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?
sherrardk you just enter YOUR pin number
Question Author
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.

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