71–80 of 174 posts
Earlier quoted context omitted.
3% minus inflation of 0.6% that would be 2.4% of £3000, which is £72 a year, which gives £6 a month. Is it worth the hassle?
With Brexit uncertainty the current GBP inflation is over 20%. 3% is a drop in an ocean on that.
I just signed up for 2 Tesco accounts the other day to dump 3k in each for the 3% interest. I'm certainly not going to be doing anything with the accounts until Tesco give some more clarification on what actually happened (although the way these things work, I doubt there will ever be a full technical response.) Also if it is some sort of internal breach, would any other data have been taken? Back in 2012, Tesco were…
Tesco ask you to log on with "character 2 and 4 from your password" which sort of implies they must store the password in clear text (unless some kind of zeroknowledge/homomorphic encryption magic i've not heard of.)
They'd do a hash of each character of the password (in Lloyds' case, your "memorable word" combo), to compare your entries to.
Earlier quoted context omitted.
> ideally in at least two different countries Is it generally easy to open accounts in countries you are not resident in?
It depends on your country, and the country you're looking at. If you are an American, be aware that merely having a bank account in a foreign country will make your life a lot more complicated at tax time. It's probably not worth the pain, unless you have a specific need.
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In many instances the amount taken is significantly more than £500 too. One colleague has had £800 taken. He's quite stressed right now.
Wouldn't that be covered under deposit insurance?
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I don't understand why you're subtracting inflation. Yes I know doing so gives you the 'real terms' increase in value, but if you stuff £3,000 in a mattress and pull it out after a year you don't notionally add inflation to it's value when comparing it to the value of savings. The savings in that account would still be 3% more than your mattress money, not 2.4% more. Unless you're comparing it to spending all the mon…
He's probably subtracting inflation to make the interest rate of Tesco relative to the rest of the economy. Stuffing money in a mattress is a pretty poor idea when it should be very easy to find an investment scheme that covers inflation.
Earlier quoted context omitted.
With Brexit uncertainty the current GBP inflation is over 20%. 3% is a drop in an ocean on that.
The UK doesn't import everything.
Earlier quoted context omitted.
In many instances the amount taken is significantly more than £500 too. One colleague has had £800 taken. He's quite stressed right now.
Wouldn't that be covered under deposit insurance?
Earlier quoted context omitted.
Tesco ask you to log on with "character 2 and 4 from your password" which sort of implies they must store the password in clear text (unless some kind of zeroknowledge/homomorphic encryption magic i've not heard of.)
This is pretty standard for UK banks. They'd do a hash of each character of the password (in Lloyds' case, your "memorable word" combo), to compare your entries to.
> Tesco Bank is stressing that relatively small amounts were taken from 20,000 accounts If someone is living month to month, said £500 missing could be very serious complication of life and £25 "emergency fund" is a joke. I personally doubt a wealthy person would use that bank and yet they seem to think their customers are pissing gold.
In many instances the amount taken is significantly more than £500 too. One colleague has had £800 taken. He's quite stressed right now.
Do you know if the the £800 was all there was in that particular account?
it seems to be money transferred from accounts (£600 mentioned as an amount). But to set up 20,000 new transfers, and extract money from them, without 2FA, and without tripping any number of alarms is a terrible failure in security. This will massively affect their provider fiserv, their internal team will almost certainly have to be replaced and I would be surprised if they don't throw their hands up and go back to…
Yes it doesn't look for fiserv either. There have been no password resets yet, so I doubt it's a mass user endpoint issue.