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ICICI asking for mobile phone number in order to use internet banking
July 2, 2014
2:46 pm
rhvic
Victoria, BC
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When I tried to log into ICICI yesterday, I was greeted with this message first:

"Important Notice – Safe Banking
At ICICI Bank Canada, we are committed to providing our customers with a convenient and secure banking experience. We will soon be introducing an additional layer of online banking security to protect you from unauthorized attempts to access your account.

Your primary mobile number is required
In order to take full advantage of the enhanced security features, all you need to do is register your current primary mobile number with us by calling our 24-hour Customer Contact Centre at
1-888-424-2422 or visiting any of our branches.

Rest assured, these new security features are designed to enhance your existing online banking experience, and you will not encounter any issues when accessing your account from computers or devices you have used previously.

Questions
Call us any time at 1-888-424-2422.
Continue to Login"

Alas, I am one of the eleven people on this planet who do not own a cell phone and have zero plans to get one, so I do not have a mobile number to give them. Yet their message says it is "required". After speaking to their rep on the phone, I was told they would send me some log-in code by mail to use. I further sent them a message to inform them that if I could no longer do interent banking with them, I was going to withdraw all of my accounts from them. So today they called me on the phone to assure me that it is not really "required" after all. I suggested they change their message, but today it is still the same.

I also told the rep that their interest rate (1.45%) is awful, compared to the 1.95% I can get elsewhere. They promised to look into that, but I expect no movement there.

I for one hope that other internet institutions do not get it into their heads to require registering cell numbers in order to continue to use internet banking!

July 2, 2014
4:01 pm
kanaka
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HI rhvic. While I don't have an umbilical cord between me and my mobile phone like the younger folks seem to have....I do have one along with my wife. They are on a very modest $8 a month plan plus 10 cents a minute to call and my wife and I can call each other free.

Keeping in mind that I don't really need a home phone (although my wife does...lol) one must wonder why you have a home phone only to be bombarded with sales of this and that, surveys etc.

I will be very hard pressed to give any one my mobile number other than a few family members and personal friends....and NEVER a business or an internet program like Gmail, my mobile number. You never know what they are going to do with it, sell it, lose it, have their data hacked etc.

I imagine a lot of the younger folks won't hand it over either as they don't want to take the chance...as there are so many other ways of adding a secure layer of protection. Nor are they interested in junk/spam calls.

I watch what my kids do in their homes.....caller id....don't recognize the name or number...they simply don't answer.

Every time we book into our timeshare we are asked our number and they assume the number we give is our cell number...but it is our home number....or we just don't give one as they have access to our home number anyways. Do they input it? Does it get passed on to the sales force?

Today it is all assumed that we have internet and a mobile phone..and that is not the case and any one that puts in a policy that demands either/or must have an alternative option to offer.

To support you, even that I have a cell phone, I would not reveal the number.

July 2, 2014
4:46 pm
JustMe
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More and more companies assume you Have mobile phone. And that is VERY annoying. Even though I have one I never ever provide phone number to anybody but the closest friends.
Same goes with e-mail. For example Michaels store every single time you make a purchase asks for your e-mail; Walmart sometimes asks for postal code as they do 'survey'. They get blank stares or reply 'I am a tourist'.
Most annoying is Yahoo which insists you provide mobile phone for 'security reasons' or 'to recover your password' or whatever.
REALLY annoying.

BTW what is the deal with ICICI???? They were in some long time ago while they had the best rates. I dropped them when they become very close to big5. I see no point have any account with them when there is so many fin. inst. with better rates and staff who speaks English I can understand...

July 3, 2014
10:48 am
james1900
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rhvic said

When I tried to log into ICICI yesterday, I was greeted with this message first:

"Important Notice – Safe Banking
At ICICI Bank Canada, we are committed to providing our customers with a convenient and secure banking experience. We will soon be introducing an additional layer of online banking security to protect you from unauthorized attempts to access your account.

Your primary mobile number is required
In order to take full advantage of the enhanced security features, all you need to do is register your current primary mobile number with us by calling our 24-hour Customer Contact Centre at
1-888-424-2422 or visiting any of our branches.

Rest assured, these new security features are designed to enhance your existing online banking experience, and you will not encounter any issues when accessing your account from computers or devices you have used previously.

Questions
Call us any time at 1-888-424-2422.
Continue to Login"

Alas, I am one of the eleven people on this planet who do not own a cell phone and have zero plans to get one, so I do not have a mobile number to give them. Yet their message says it is "required". After speaking to their rep on the phone, I was told they would send me some log-in code by mail to use. I further sent them a message to inform them that if I could no longer do interent banking with them, I was going to withdraw all of my accounts from them. So today they called me on the phone to assure me that it is not really "required" after all. I suggested they change their message, but today it is still the same.

I also told the rep that their interest rate (1.45%) is awful, compared to the 1.95% I can get elsewhere. They promised to look into that, but I expect no movement there.

I for one hope that other internet institutions do not get it into their heads to require registering cell numbers in order to continue to use internet banking!

Hi, this is called two-factor-authentication process. CIBC is introducing 2FA as well:
https://www.cibc.com/ca/features/banking-enhancements.html?WT.mc_id-Int-TOP-NGA-NowAvailable-E

The mobile number is used to send an extra code to you when you do "sensitive" transactions. As a bank, it must have privacy terms to protect your mobile number. If you really do not have one, in CIBC case, they can send the code via email, OR, you call an automatic number to retrieve the code. By email, the 2FA benefit is not fully achieved. Because 2FA has two unique ways to identify a real customer: first, by something you KNOW; second, by something you HAVE.

You may see wiki pages on 2FA to get know it better. Actually, 2FA has been implemented many years ago in Asian banks, and it is a must before one can use internet banking.

July 3, 2014
7:23 pm
kanaka
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Brian said

kanaka said
HI rhvic. While I don't have an umbilical cord between me and my mobile phone like the younger folks seem to have....I do have one along with my wife. They are on a very modest $8 a month plan plus 10 cents a minute to call and my wife and I can call each other free.

Which mobile has a plan for $8 per month? I have not seen anything that low - would be interested to know. Thanks!

Long story. But I have everything in the house with Telus and both my wife and I have the Telus Mobility prepaid plan. Basically for emergencies and direct family. Originally was $10 a month and from that $10 they would take .75 for 911 per month and our calls were 20 cents a minute and then we did an automatic top up monthly and as long as you did that, they would roll over the dollar value. So as things evolved they kept jacking up the per cent rate which is now 50 cents and minute and another 50 cents for LD....total of $1.00 for LD. So my wife's balance was over $400 and mine over $250 and some months we did not use it at all. So Telus changed and said you (all customers) had to have a $10 plan of their choice....if you did not choose one.....and the per minute rate would go down to 20 cents plus 50 cents for LD (I think). So in some of my emails about forcing me to waste $10 a month....I mentioned that I can see how easy it is to stray away from Telus. I did not make a threat...just a statement as I was on to seeing what else I could do...and the 711 Speak out was it for me but it is on the Rogers network which has coverage issues in BC. BUT because of my misread comment they passed the issue onto the Telus Mobility retention department and they came up with still taking $10 from me monthly, but only 10 cents a minute and free calling for my wife and I to each other AND we no longer had to do an annual or monthly top up til the funds depleted. Good offer, so I took it. A compromise but like say they got their way with me for the $10 per month. BUT you can also pay or top up annually for $100 which comes to $8.33 per month. If you want the name of the plan let me know.

July 3, 2014
8:48 pm
GS1
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kanaka said
[snip]

They are on a very modest $8 a month plan plus 10 cents a minute to call and my wife and I can call each other free.

[big snip]

$8 a month is/was too much for me. I bought an unlocked basic phone for about $30 and then added a prepaid plan from 7-Eleven. I have no store near me so use this link.

Their rates are 25 cents a minute with the only monthly charge being a 911 fee of $1.25. The plan offers $25, $50 and $100 top ups with each one being good for 365 days.

The next best rates are those offered by Petro Canada from this link.

GS

July 4, 2014
12:45 pm
james1900
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GS said

kanaka said
[snip]

They are on a very modest $8 a month plan plus 10 cents a minute to call and my wife and I can call each other free.

[big snip]

$8 a month is/was too much for me. I bought an unlocked basic phone for about $30 and then added a prepaid plan from 7-Eleven. I have no store near me so use this link.

Their rates are 25 cents a minute with the only monthly charge being a 911 fee of $1.25. The plan offers $25, $50 and $100 top ups with each one being good for 365 days.

The next best rates are those offered by Petro Canada from this link.

GS

Just to add, 7-eleven speakout phone does not charge incoming text messages. It is ideal for banks to send extra-layer of code to customers.

July 5, 2014
7:53 am
kanaka
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If I had to change, I had narrowed down to Petro Canada or Speakout. I would have chosen Speakout as the minutes don't expire for 365 days.

July 5, 2014
8:54 am
james1900
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kanaka said

Brian said

kanaka said
HI rhvic. While I don't have an umbilical cord between me and my mobile phone like the younger folks seem to have....I do have one along with my wife. They are on a very modest $8 a month plan plus 10 cents a minute to call and my wife and I can call each other free.

Which mobile has a plan for $8 per month? I have not seen anything that low - would be interested to know. Thanks!

Long story. But I have everything in the house with Telus and both my wife and I have the Telus Mobility prepaid plan. Basically for emergencies and direct family. Originally was $10 a month and from that $10 they would take .75 for 911 per month and our calls were 20 cents a minute and then we did an automatic top up monthly and as long as you did that, they would roll over the dollar value. So as things evolved they kept jacking up the per cent rate which is now 50 cents and minute and another 50 cents for LD....total of $1.00 for LD. So my wife's balance was over $400 and mine over $250 and some months we did not use it at all. So Telus changed and said you (all customers) had to have a $10 plan of their choice....if you did not choose one.....and the per minute rate would go down to 20 cents plus 50 cents for LD (I think). So in some of my emails about forcing me to waste $10 a month....I mentioned that I can see how easy it is to stray away from Telus. I did not make a threat...just a statement as I was on to seeing what else I could do...and the 711 Speak out was it for me but it is on the Rogers network which has coverage issues in BC. BUT because of my misread comment they passed the issue onto the Telus Mobility retention department and they came up with still taking $10 from me monthly, but only 10 cents a minute and free calling for my wife and I to each other AND we no longer had to do an annual or monthly top up til the funds depleted. Good offer, so I took it. A compromise but like say they got their way with me for the $10 per month. BUT you can also pay or top up annually for $100 which comes to $8.33 per month. If you want the name of the plan let me know.

I also do not like Canadian Tele-companies ways of treating loyal customers. If a customer keeps silent, they just always add prices/costs to him/her. Then he threats to leave. Then a "customer-retention" officer comes out and offers candy. Sick of that.

Banks also post worst mortgage rates. If you ask and do not intend to take, a "manager" then walks out and gives a lower rate. It encourages bargain, bargain...

July 5, 2014
9:59 am
kanaka
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Jame I have to agree with your comments in regards to bargaining.

When it comes to mis-managed monopolies like:
Telco
Provincial Tax and fees
Federal Tax and fees
Government created organizations like TransLink, Vancouver Metro......., BC Hydro, Fortis
Property Taxes unfair, and tax cheats not challenged, while the silent take up the slack in increased taxes and say nothing.

We need to bargain or state our concerns in regards to over taxed and waste of tax dollars.

We Canadians just seem to go with the flow and pretend to be "Too Busy" to do something about it and the few that do are just given some bureaucratic BS!!!

BARGAIN OR REVOLT!!! LOL sf-frown

July 24, 2014
10:19 am
martin14
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james1988 said
The mobile number is used to send an extra code to you when you do "sensitive" transactions. As a bank, it must have privacy terms to protect your mobile number. If you really do not have one, in CIBC case, they can send the code via email, OR, you call an automatic number to retrieve the code. By email, the 2FA benefit is not fully achieved. Because 2FA has two unique ways to identify a real customer: first, by something you KNOW; second, by something you HAVE.

You may see wiki pages on 2FA to get know it better. Actually, 2FA has been implemented many years ago in Asian banks, and it is a must before one can use internet banking.

I have to be honest, the security for RBC online is a joke.
card number, password, and security question, my eyes popped at the simplicity of it all.
Living in Europe, we had the 'bank sends sms code which you input' for a few years.

Now, my bank gave me a card reader, that I have to put my bank in, then generate a code to input
into the IB site. So, to log in, I need:
Acct number
First password
reader
bank card
knowledge to get the code

Much better security, I hope the Canadian banks catch up sooner rather than later.

July 24, 2014
6:40 pm
JustMe
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Holy cow!!! Are you serious??? What's next? Portable DNA reader and sperm counter to confirm that this is really YOU?
I never had an issue having just user ID and password. Just make strong password and if somebody is SOOOOO idle to try all zillion combinations, let it be. The only way somebody can steal your password is if it breaks into bank's database. But passwords are encrypted anyway...
And even if somebody breaks into your account what s-he can do? transfer money to lower interest paying bank. I just do not get it.
There are more chances you get run over by a vehicle (or scooter in Europe) then to lose money.
I am very annoyed that some banks (Tangerine) made their sites that password-keepers like Roboform cannot handle first page. Real pain in the neck. No, I do not remember hundreds of id/passwords combos...

July 25, 2014
7:38 am
GS1
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JustMe said

[snip]

And even if somebody breaks into your account what s-he can do? transfer money to lower interest paying bank. I just do not get it.

[snip]

In the early days of online banking my attitude was "so they break in and pay my bills with my money, big deal". But today they can use various ways to transfer your money out to them. There are limits and I reset mine with my bank and am diligent about checking balances regularly -- BUT, now they can steal your money.

The costs to the banks are less than the costs of "fixing the problems". We recently had two cards associated with one BMO Mastercard account compromised. The cards are in my secure possession, were used in Florida in October through December and in May "cards" with those characteristics were used, one in Atlanta, Ga and the other in downtown Toronto. The cost to BMO was about $2000 and while I was very concerned, to them it was just another, albeit fraudulent, set of transactions.

Bank to bank accounts, I am not sure why more sites aren't using something as simple as Google's authenticator to do two level authentication. Ah, yes, it would cost money to implement!

GS

July 25, 2014
11:09 pm
martin14
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JustMe said

Holy cow!!! Are you serious??? What's next? Portable DNA reader and sperm counter to confirm that this is really YOU?

Yes I am.
I forgot to mention the card reader needs a PIN to operate and generate the code you need
to then input into the webpage.

You can steal my bank card.
You can hack my computer (or the banks) for the acc't password.
You can take my reader.
You can even hack my cards' PIN.

But without all of it, my money isn't going anywhere.

I like it. :)

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