That homepage says you get £100 for opening an account and I am sure they do some kind of cashback or RAF offer if thats your cup of tea as well.
Have a plan and stick to it
Don't know if anyone has seen the card reader that they are trying to impliment with their internet banking but I've just tried to make a transfer of funds from my NW account into my main current account to pay back some cash I borrowed for cheltenham and the arsehole page is telling me I need a f****** card reader to do this transaction now.
So they've removed most of the functionality from my internet banking without warning and they've not bothered to send me a card reader ot tell me in advance this was going to happen.
So another vote of tossers for NW.
As soon as they posted me that card reader 12 months ago i stopped using NW and moved to halifax. The thought of having to put my card in that thing and write the code everytime i do a transaction online is too much for me...
I think the card reader is a hassle, but to be honest I'd rather have that hassle than lose £x grand from my account because some scumbag somehow manages to break into my account because I chose to take the 'easy' option / go for an account without a reader. The cost of fraud is paid by every customer of a bank in higher margins that the banks take (ie low interest rates, high borrowing rates, higher charges) so in effect those costs should come down and we should see a benefit if all banks introduced readers.
Originally Posted by Shark
However it's arguable that we would never see those costs so is it really worth it? Would be nice if anyone who used a card reader automatically got a better loan deal or a better savings rate or something like that as a 'thanks', can't see that happening though tbh.
Generally though back on the topic of card readers being a hassle, I nearly posted last night to say in reply to diesel10 something like 'just wait until you get your reader and you have to go rooting around for your card every time you want to login online'... but I changed my mind because end of day I don't mind that minor hassle really, there are much worse things to have to do and it takes about 30seconds to do so, I have no 'beef' with NW about the card reader at all really (I am more peed off at their poor customer service and poor products really).
Card readers are nearly all interchangeable. If you have one from another bank it'll probably work with your Nationwide card in it.
Originally Posted by diesel10
Well guess what the postman put through my letterbox saturday morning!
Still can't use it though as I filed my card pin number in the bin when I got it so I wasn't tempted to use the card in shops.
I'm wondering how it works as it doesn't connect to the computer with a wire and they can't assume everyone has wifi.
It doesn't work via wifi, I'm not sure how it works to be honest. I don't think the card reader is 'unique' to you or your card or even your bank, I think anyone can use anyone else's card reader (regardless of which bank as well.. says that on Nationwide site anyway) but it will still generate a unique key for your bank card/pin combo. You then use that key to authenticate the transaction you are completing (idea being that if someone steals your card then unless they also have your PIN then they can't use the chip and pin functionality).
Just had a quick read online about how card readers work and can't say I understand it 100% (or even 50% to be honest heh). This article has a lot of detail though:
Section 4 is pretty scary about how card readers are actually a useful tool for muggers because it allows them to tell whether or not a victim is lying when the mugger has stolen the victim's card and has asked them for the PIN (they can just insert the card into their reader, enter the PIN and if the PIN is incorrect it will say so).
There are also other vulnerabilities related to card reader technology explained on there too like how card readers are still vulnerable to man in the middle attacks ie 'phishing' malware on your PC or ATM machines that have been tampered with. With those kind of 'exploits' criminals can create a 'fake' transaction at the same time as you initiate a genuine transaction and use the key generated by your card reader to complete the 'fake' transaction.
just 2 things to add - not that I am a fan of Nationwide (was told the other day on the phone that it would take 2 weeks(!!!!!!) to post out my statement to me with my address on it for a mortgage application, plus charge me a fiver for this great example of speedy service
You can log in without the card reader - there is a link underneath the nonsence about logging with the card reader saying 'log in using memorable data' which takes you too the old style log in page.
Plus their card reader does not work with other cards - I put a different bank card into my reader to see what would happen and it came up straifht away 'wrong card'.
According to their website:
Originally Posted by essybe
Internet Banking - Card Reader frequently asked questions
But reading that pdf file above I posted I think they said something there about how different providers use slightly different protocols (ie different readers), so maybe Nationwide are confused.
Can Nationwide Card Readers be used for Internet Bank accounts with other providers and vice versa?
Yes, Nationwide’s Card Readers can be used for Internet Bank accounts with other providers. You can also use Card Readers from other providers for Internet Banking with Nationwide.
Without wanting to rub salt into any wounds, I've never had any trouble with Nationwide.
First Direct on the other hand, were an absolute nightmare. Every single transaction to a bookie or Moneybookers was followed by a phone call from someone in India saying that they needed to verify the transaction or the card would be blocked. It also turned out that they wouldn't allow me to deposit to Moneybookers for gambling transactions, which made the account pretty useless really. I closed it and they gave me £100, which was nice.
I'd talk about my experience of Santander, but I'm trying to cut down on my swearing.