Because it is confirming your identity (by possession of the card and
pin) - you may need to do that for something without signing in.
Probably from signing cheques and you are "signing" the payment. Anyway,
while you could be transferring money between your own accounts, you
could also be paying for something, as distint from a transfer.
On Tue, 06 Aug 2019 19:16:23 +0100, Steve Walker wrote:
Challenge response. My bank (NatWest) uses it if I want to make a change
to a standing order, or add a payee.
I am given a string of digits from the website. I insert my card, press
Respond and enter my PIN. I also enter those digits. I am given another
set of digits as a response to type back in.
I probably do it about once a month.
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I thought there was something odd there but that's a bit
better but still not quite right.
You first press 'Identify' and type in your PIN.
Don't worry, though, you'll be given full details every time
you use it so you won't have to remember anything - except
your PIN, of course.
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