I'm with the Royal Bank Of Scotland, and a while ago they sent me a card reader. Whenever I want to transfer money online, I have to put my card in this card reader, it generates a magic number, and I enter that number into the online form.
All well and good in theory - if someone gets your online banking details (That would be your 10 digit customer number, 4 digit PIN and your password (Mine being over 20 letters / digits mixed case :P), they need to physically have your card and your card reader to transfer money.
Unless you ever need to transfer money from more than one place. My card reader is safe and sound in Edinburgh. I'm in Glasgow. That means I can't transfer money online or by phone banking. So I went into a branch today to transfer money to a friends account, and this is apparently unheard of. It seems that if you lose your card reader, or leave it somewhere that you're not, it's impossible to actually transfer money. The only way to do it is to take money out of your account in cash, and pay it into another account.
In this case that wasn't too bad since it was going to another RBS account, so they can just do it there and then. But if I was to need to transfer money into a non-RBS account (shock, horror), I'd need to wander around with GBPx hundred on me, find the nearest target branch (Who knows how far away that might be), and pay it in there in person.
Wonderful. So it looks like I'm supposed to carry a pocket calculator sized card reader around in my wallet...
So I'm going to try and get another card reader to keep in Glasgow (Which I doubt they'll let me do), failing that see if there's a way to get around it, and failing that I might mention the words "account closure" and see if that lubricates things :P