A very important point. A decade ago the majority of people had a PIN on their SIM. From my observations, this is almost a thing of the past. It is a significant vulnerability.
If I lose my phone can my Revolut, N26 and Raisin accounts be cleaned out?
- Thread starter Pmc365
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What if you order a virtual card? That was one of the options. Does anything need to be sent out in that case? Or can the thief just use the virtual card number, expiry date and CVC to add it to Google Pay and then use it to purchase stuff?
Using a card in US is quite disconcerting given the variety of ways in which you are required to use your card (insert in machine, swipe at side of machine, tap etc), the number of ways you validate (enter PIN, sign check, sign mini screen etc), that carry on in restaurants where they walk off with your card and return 5 mins later, the open tab (to allow you to write in a tip on the check after the card has been processed) and the huge number of places that won't accept ApplePay/GooglePay. On my last few trips I've limited myself to my N26 card on the basis that I get instant notification of all transactions to my phone and watch. I'd be reluctant to carry any card that didn't offer instant notification (reliably, looking at you AIB) in the US.
Yes there are so many levels of security that have gaps either because things like SMS codes would show on the lock screen or we have turned off security on the sim card etc. The blame the victim business is strange alright.
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DublinHead54
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I saw that revolut are rolling out a new security feature to protect accounts against phone theft. On the face of it (no pun intended) this looks like a good extra level of security. As I understand the below it means they will require a selfie to transfer out of savings and that selfie is validated against your ID documentation provided at sign up. I assume they are applying to savings account initially because it could add friction into the process for a user.
I'm not sure if they have it in place, but simply controls like limiting the size of transfers out to new payees is a pretty simple control that can help also.
"Wealth Protection will help protect customers who have had their unlocked phone stolen or password compromised to stop criminals from withdrawing customers’ savings out of their accounts.
Many banking apps rely on just one biometric authorisation (like facial or fingerprint recognition) built into mobile devices, usually when opening the app. Revolut is going one step further with its advanced facial technology. When turned on, Wealth Protection will verify the user’s identity against the selfie ID checks that the customer completed while first signing up with the app. The feature, which requires customers to opt-in, can be turned on for Savings."
ibsintelligence.com
I'm not sure if they have it in place, but simply controls like limiting the size of transfers out to new payees is a pretty simple control that can help also.
"Wealth Protection will help protect customers who have had their unlocked phone stolen or password compromised to stop criminals from withdrawing customers’ savings out of their accounts.
Many banking apps rely on just one biometric authorisation (like facial or fingerprint recognition) built into mobile devices, usually when opening the app. Revolut is going one step further with its advanced facial technology. When turned on, Wealth Protection will verify the user’s identity against the selfie ID checks that the customer completed while first signing up with the app. The feature, which requires customers to opt-in, can be turned on for Savings."
Revolut launches new security feature to combat phone theft
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I've always found AIB to be very slow at processing transactions.
thedaddyman
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Just to follow up on my recent experience in North America, I never got asked for my PIN for any Revolut transaction, regardless of the limit but I frequently got asked for it for my An Post Currency Card which I was also using.
I did get instant notification of transactions on Revolut , but not for An Post (possibly a settings issue on my side in fairness).
I did get instant notification of transactions on Revolut , but not for An Post (possibly a settings issue on my side in fairness).