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Online transactions (Permanent TSB visa card.)

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  • 05-05-2017 10:20pm
    #1
    eurasian
    Registered Users Posts: 115 ✭✭


    Hi.
    I opened a bank accounts with Permanent TSB and was surprised to learn that it's not possible to switch online transactions on/off in the online banking website/app (Open24). My foreign bank card has this option since 2010, and it's superhandy in case you're worried someone could use the card details for unathorised transactions after you use it online.

    I set up Verfiied by Visa, but it doesnt seem to ask the password on every single occasion. Is this normal, do other Irish banks have it?

    Thanks.
    Tagged:


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    #2
    BuffyBot
    Moderators, Motoring & Transport Moderators Posts: 24,924 Mod ✭✭✭✭BuffyBot


    eurasian wrote: »
    Hi.
    I opened a bank accounts with Permanent TSB and was surprised to learn that it's not possible to switch online transactions on/off in the online banking website/app (Open24). My foreign bank card has this option since 2010, and it's superhandy in case you're worried someone could use the card details for unathorised transactions after you use it online.

    I set up Verfiied by Visa, but it doesnt seem to ask the password on every single occasion. Is this normal, do other Irish banks have it?

    Thanks.

    Verified by Visa is dependent on the merchant, not the bank. PTSB have no control over whether a merchant chooses to implement it or not.


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    #3
    eurasian
    Registered Users Posts: 115 ✭✭eurasian


    BuffyBot wrote: »
    Verified by Visa is dependent on the merchant, not the bank. PTSB have no control over whether a merchant chooses to implement it or not.


    That is correct. But PTSB has control over it's own systems, and therefore could implement this. I wonder why have they decided not to do so and if other banks in Ireland have this function.


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    #4
    BuffyBot
    Moderators, Motoring & Transport Moderators Posts: 24,924 Mod ✭✭✭✭BuffyBot


    Which bit are you talking about? If it's the ability to enable/disable feature of your debit card via the website/app, then yes they *could* in theory, but whether or not they feel it's viable or of any great benefit to do so is another thing. Remember, the technical side of most large banks in Ireland is powered by very old technology. It can take a lot of effort to make changes, and if there is little reward to do so, then the time and effort won't be spent on it. A larger bank with more resources, or operating newer technology may not be hindered by such concerns.

    If you are speaking of Verified by Visa, PTSB has no control over to merchants decision to require it in ortder to complete a purchase. They cannot decide if a password is needed or not. The password is a requirement of the VbV program

    Do you have the password saved in your browser or any password storage software/addons? Perhaps something is auto-completing the form?


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    #5
    Yggr of Asgard
    Registered Users Posts: 5,169 ✭✭✭Yggr of Asgard


    There are currently no "traditional" banks in Ireland that are offering user driven restrictions for cards that you are mentioning.

    There are some financial services companies or banks from outside Ireland that operate in Ireland that are offering this option, Revolut, N26 or bunq for example. But these are challenger banks/services with their own up/down sides.

    And as the other posters point out, verified by visa is determined by the merchant and their credit card processor, it's not mandatory on each transaction.

    Banking in Ireland is a behind some other countries and as buffybot says, it's based on old technology with loads of challenges.


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