How reliable the internet banks or postoffice are?

Business Money
#1

Do you trust the internet banks?

  • 1.Yes.
  • 2.NO.
  • 3.I dunno.

0 voters

One man applied the internet postoffice but his money was stolen from his account.
He losts 900,000NTD but the postoffice said the scam group withdrow the money.
They suspect the owner was scammed by the scam group and told them his accunt and password.
But the owner denied he got anycalls from the scam group.
He found he is not the only one whose money was stolen.
How reliable the internet banks or postoffice?
Do you trust it?

#2

anyone who can afford to put that kind of money unto an account that they are not entirely sure about or don’t have a high degree of knowledge in online security,deserve to get his funds taken away,simple as.

#3

Doesn’t the bank or postoffice have to respond for online security since they claim they never told thier data to anyone?

#4

it’s almost guaranteed that if taken to court,the bank will prove that the customer was negligent in one way or another (even more so since the number of internet user that download pirated virus softwares)

#5

This is why I won’t put any kind of serious money into a Taiwanese bank account. There are very few legal protections for customers and I really don’t understand why banks haven’t started competing with each other by offering fraud guarantees like many western banks started doing a while ago. If my banks in Taiwan offered me peace of mind re: card or account fraud I would feel much happier to deposit a lot more and use my credit card more. Seems like they’re shooting themselves in the feet with these policies.

My debit card was stolen in the UK - they got away with over 4 grand in cash and goods but my bank refunded every penny, backdated to when the fraud started and not when I first reported it. I have a few friends who had cards or account information stolen in Taiwan and in each case they were 100% liable. Very, very worrying.

#6

I think no Taiwanese bank is willing to offer the fraud guarantee Just because they are afraid of being scammed,too.
But a good and responsilbe bank should be like yours.

#7

This is off-topic.
When my friend came to Taiwan he found he can’t use his debit card in Taiwan.He thought it was strange.Why Taiwanese don’t use debit card?

#8

It’s not hard to believe that someone on the inside of an internet bank here might be involved in stealing people’s money, but every scam I’ve heard of involves a combination of an insider and tricking the person into giving away private information. I’d bet a bunch of money the victim here let something slip, and is just denying it.

Because there aren’t any. Why would there be, when banks make more money from credit cards, and to most people here credit cards are FREE MONEY!!! and they have a dozen of them?

PS: I do online banking with HSBC, which isn’t quite the same thing (but you could still lose your money if someone got your login). I only do it from Linux – any time I’m running Windows I assume there are keyloggers and trojans on the machine, despite firewall and antivirus.

#9

[quote]Quote:
Why Taiwanese don’t use debit card?

Because there aren’t any. Why would there be, when banks make more money from credit cards, and to most people here credit cards are FREE MONEY!!! and they have a dozen of them? [/quote]

nodding my head…

I have no any idea about Linux.
Why Linux?
Can you explain it more?
Thanks.

#10

I do online banking with HBSC too which requires triple authentication with password through a secure server machine (a dedicated laptop or home PC), after signon I have to use a special key fob jobbie thing that gives me a second 6 digit password which allows a second entry authentication into the account. How can you get into your account with only a name and single password??? They’ve been doing this for years??? If I try to sign on from any other machine I need to re-authenticate with a phone call (call back)to verify identity or go through an incredible “song and dance rigamarole” to even get on. This is why I’ll only trust HSBC and yes they are bastards but at least they’re good at it.

#11

Taiwan’s banks only need the ID,username,and password to log in.
Yes,it seems it’s easy to login.

Taiwan’s banks have no this procedure.
I heard people suggest them should take this step ,too.

Some of you mention the HSBC,sounds like it has more security ways to protect the right of customers.
But is it also possible the insider to pretend it is you and call back to get re-authentication?

#12

They wouldn’t have the special authentication codes that are setup before the call back!

#13

It may vary between HSBCs in different countries – as we all know, they are pretty much totally unrelated to each other. “The World’s Local Bank” indeed.

Mine is from the UK. You log in using an account code (IB account, not bank account), date of birth, and three digits chosen from an 8-digit security code (it says things like “Enter the first, fifth and seventh digit”). It’s not a bad system – you never type your whole security code in, so keyloggers don’t get it.

[quote]I have no any idea about Linux.
Why Linux?
Can you explain it more?[/quote]

There aren’t any viruses for Linux, basically. Perhaps because it’s more secure, or more likely just because so few people use it, so it doesn’t get targeted.

#14

Thanks!

I have one more question.
How can the bank judge if it’s not your fault to cause the loss?How much can you get back?

#15

I have been working in a bank for 5 years. As far as I understand, internet banking should be very safe. You need to register some account numbers in advance with your bank in order to allow you to transfer money out on the internet. Even if someone steals your PIN (Personal Identification Number), they can only transfer your money to those associated accounts. You can easily find out.

#16

Taiwan banks offers up to 1 million dollar in your account if the bank went down right? but other then that they don’t really give you much customer protection etc? like for credit card or if they stole you info and took money? that really sucks

how do you set up online payment in Taiwan? you have to actually go to the bank and apply? I have yet to use online bank to pay anything I just go to 7.

#17

Yes. Taiwan Central Deposit Insurance Corporation does provide 1 million compensation. However, it is highly suggested that you put your money at trustworthy banks which has lower NPL (Non Performing Loan) ratios.

Taiwan government should not have promised that they would support any banks facing bankruptcy. Some big persons in banks could steal the money and then all tax payers in Taiwan have to cover the loss. That’s unfair.

How to set up online payment with your banks in Taiwan?
Normally banks would ask you to sign and authorization letter in person. You will define which account numbers you allow to receive money transfers from your account. If you never set up any accounts, your money should be rather safe.

If you never set up any accounts and your money is transfered to other a/c, you can sue your bank.