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Posted March 24, 2011 by Simon in News
 
 

Yorkshire Building Society Introduces New Security Measures

To verify your identity, Yorkshire Building Society (YBS) currently use your date of birth and your password.  For your added protection and to keep their website at the forefront of internet security, they are introducing an additional security measure that uses the telephone.  This is becoming quite common now within the online banking community.

What is the new security measure?
  • Yorkshire Building Society will telephone you to check your identity before transactions such as transferring a large amount of money out of your account, setting up a new account to transfer money to, or changing your personal details, go ahead.
  • They’ll ask you which number they should use – your home number, your work number or your mobile number.
  • Yorkshire Building Society need to be able to contact you when you’re performing the transaction. If you’re at work and we only have your home number, they can’t call you so the transaction won’t go ahead. So it’s important that they have as many numbers as possible for you.
Why are they implementing it?
  • Internet fraudsters are constantly looking for ways round the security of websites. Yorkshire Building Society’s website is already extremely secure, but they have to stay one step ahead to thwart their efforts.
  • Using the telephone in conjunction with the internet gives you added protection. In the unlikely event that a fraudster is able to hack into your account online, it’s extremely unlikely they can also access your telephone. Without this, they won’t be able to do any transactions.
How does it work?
  • They will telephone you on the number you choose – providing it’s one that they hold for you – when you do transactions like transferring a large amount of money out of your account, setting up a new account to transfer money to, or changing your personal details. This could be your home number, your work number or your mobile.
  • You’ll enter a one-off verification code using a combination of an automated voice on the telephone and the secure internet site which will enable the transaction to proceed.
  • The process will take no more than a minute, and you won’t have to talk to anyone as the call will be an automated message.
Will I have to use my phone every time I want to make a transaction online?
  • No. Only certain transactions will use the new security measure. These include transferring a large amount of money out of your account, setting up a new account to transfer money to, or changing your personal details.
What do I need to do now?
  • Yorkshire Building Society need all your up-to-date telephone numbers, such as home, work and mobile, so they can contact you when you’re managing your account online in the future. If they can’t reach you, the transaction cannot proceed.
  • It’s important to check now that the details we hold for you are correct, even if you’re not planning to transact online in the near future, to prevent any issues arising later.
  • If you’ve already logged into your account online, please close this window to return to your Account Management page, then click on the ‘Personal Details’ link on the left. This shows the details we hold on you, including your telephone numbers. Amend any contact numbers that are incorrect, and fill in the numbers we don’t currently hold.
  • If you haven’t already logged into the secure site, follow the usual login process – click the ‘Log in’ button in the top right-hand corner of this website – then click on the ‘Personal Details’ following the instructions above.
What will happen if you’re unable to contact me?
  • If they are unable to reach you when you’re trying to, for example, set up a new destination account, transfer a large amount of money or change your personal details, the transaction cannot proceed without you telephoning them. This will take time and the cost of a phone call.
What type of telephone numbers can I be called on?
  • They can hold your home number, your work number and your mobile number.
  • They will ask you which number you want them to call, from the ones that they hold for you, each time you make one of the transactions that require this additional layer of security. You’ll then receive an automated message straight away on that number.
  • You can choose any of the numbers they hold for you – it doesn’t have to be the same number each time. So whether you’re at home, at work or elsewhere, provided they have all your up-to-date numbers, they should be able to reach you.
Will I be charged for this service?
  • No. However some mobile service providers charge you for receiving the call if you are abroad.
  • If you are performing a transaction that requires this additional security and they do not hold all your numbers so are unable to reach you, you would need to telephone their call centre. In this instance, you would be charged the cost of an 0845 (BT local) call.
I’ve forgotten my login password. What should I do?
  • If you’ve forgotten your password or have problems logging in, call Yorkshire Building Society on 0845 1200 805
Where can I get more information on internet security?

 

If you have any additional questions you can reach YBS on 0845 1200 805.

 


Simon