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Sambhar Mafia - Cooked To Kill!

Friday, July 22, 2005

I have been PINned down

How am I supposed to remember the numerous pins, which my bank dishes out? There is T-Pin for Telephone banking, there is an ATM-Pin for ATM transactions and there is an I-Pin for Internet Banking transactions. Wonder what else they will come up with?

I wanted to transfer some money to another person (based here) and I thought that it would be a simple affair. I thought online transfer would be hassle free and decided to use Internet banking. The fact that the other party also had an account in the same bank made me feel that the transaction would not entail too many complications.

After logging into Internet banking section (by using my I-Pin), I went into the section, which enables such intra-bank transfer. The note there said that I should have registered my Mobile Phone / Pager number with them to enable online transfer of funds. What would be the fate of people who didn’t have mobile phones / pagers or are they indirectly promoting the sale of mobile phones? The note went on to say that I can register my mobile phone / pager number by visiting the nearest branch / ATM. After registering the mobile phone number by using the above said process I proceeded with transferring the money online. After entering the name of the payee, the bank’s software said that a One Time Password (OTP) would be sent to my mobile phone so that I can activate the payee. The SMS, which my bank sent me, contains the OTP and I had to enter this in my PC to activate my payee and then proceed with the money transfer. A transaction, which was supposed to be completed in 5 minutes, took about 30 minutes. The easier way out should have been to meet up with the other person and pay him in cash. Now that I spent 30 minutes on this simple transaction, I decided to spend another 15 minutes and put a post on this issue. With the current state of things how can they expect the elderly to embrace technology? The bank might have its own reasoning to justify the multiple layers of security.

Down but not SkypeOUT

Recently, my dad tried to pay through his credit card for the SkypeOut service. He tried twice but the payment didn’t go through. I was thinking that my dad might have not completed the transaction properly and hence the transaction might not have been successful. To our dismay, the bank charged us twice for this transaction. After reading Mala Bhargava’s weekly column in Business World I found that my dad was not the only one who faced this problem. Lot of Skype users in India are having problems paying through their credit cards. Further, Skype has this (stupid) rule, which says that each credit card can be used to make payment for only one Skype account. In other words, I can’t pay for my SkypeOut account and for my parents SkypeOut account from the same credit card. Although they are trying to protect credit card frauds, they are also losing out on some potential customers. Is somebody listening?


  • Welcome to the world of online transactions! ;-)
    StanChart ppl have duly sent me the debit card about 2 months back, and even after N no. of reminders, they seem to forget the simple fact that I do need the ATM Pin and IBanking Pin to access the account. Hail customer service!

    By Anonymous anil, at 5:20 PM  

  • I think while u were at the ATM to get ur mobile number activated, you cud ve jus transfered the money to ur friend via the ATM.

    I ve created and lost my I-Banking pin so many times now...abs cant keep track of them

    By Anonymous angelsera, at 5:28 PM  

  • SO the problem exists there in singapore also?

    By Anonymous vasanthi, at 6:17 PM  

  • hmm..i dread it...
    i have a particular remembering pins and passwords

    By Blogger monu, at 6:21 PM  

  • Actually I quite like the way DBS sends out an SMS with a one time password. If an unauthorized person has gained access to your online banking account, it is reasonable to assume that he/she has access to all your online accounts. In that situation, what good is a password send through email? It makes sense to send credentials over two different vectors. Remarkably better security returns for a simple implementation.

    As for Skype/CC, shouldn't you be taking it up with the card company?

    By Anonymous deepak, at 9:24 PM  

  • as far as the bank transfer is concerned, the system exists to protect dumb people. these being those who log in to internet banking at a public terminal like a library and then blissfully leave. in fact, once you've registered your phone number, things are quite simple. today, i added a new payee, and transferred money in less than 2 minutes.

    i recently happened to buy some SkypeOUT credit too - and i guess i was luckier than your dad. my POSB debit card was accepted without issues. i did note the one card per skype account restriction though, and i agree with you - thats just weird.

    By Blogger Anshul, at 11:19 PM  

  • Actually citibank aint that bad in that way.. Yes, we do have umpteen number of PINs to remember.. But all that I need to get thru the day are my HPIN and my APIN!! So, adhu varai sandosham! :)

    By Blogger Whoosh, at 12:59 AM  

  • the customer is supposed to be the king rt? somewhere amidst all this, the whole point is lost!!! this is a typical chakra blog tho kaps :)

    By Blogger capriciously_me, at 1:39 AM  

  • ridiculous -- for both. this is just overdose of security. could have made it easier on the online transaction.

    By Blogger saranyan, at 5:04 AM  

  • "kaps_sg: username not found or user has not been online in a long time."

    By Blogger YardBoy, at 6:19 AM  

  • In my early years in Singapore, bank transactions used to be very easy online. Then after some fraud incidents, this mobile came into the picture.

    Actually, its not that difficult the second time you want to transfer. Only the first time you may need to do these formalities and then be done with it.

    By Blogger G3, at 10:25 AM  

  • What do you do "When you are pinned out"?

    By Blogger Venky Krishnamoorthy, at 12:51 PM  

  • I faced these kind of problems too!! Online Maya!!

    By Blogger Gangadhar, at 4:42 PM  

  • This is purely because, the bank is using several softwares, each for its own device. Indian banking system will revolutionize in a few years. Im telling that to you with a reason.

    By Blogger keerthi, at 7:10 PM  

  • truly accept that so many pins gets me pinned up

    By Blogger Suguna Purushothaman, at 7:04 AM  

  • but somehow am very good with numbers and characters..so it has always helped me remember without any problem!

    By Blogger IBH, at 10:04 AM  

  • Most of the UK banks let you change the PIN, which is useful

    By Blogger WA, at 12:42 PM  

  • Kaps, this mobile phone requirement came in when the bank faced a serious theft, where in a china man intelligently transfered around 60,000 dollars from various accounts to his own account. Then he went to a particular branch where he can draw that kind of money on a day. From there he left singapore via JB. He is being hunted by the interpol but they are not able to trace him. That is when the bank has put in such a security measure.

    By Blogger வெங்கி / Venki, at 1:14 PM  

  • @Angelsera,
    I could hv trfrrd money thru the ATM. But I wanted to see how long it takes to complete an online transaction

    This problem exists everywhere.

    It is easier for me to remember passwords as we can automate it and need not key in the password everytime. but there is no such facility for pins.

    I do understand the security implications....however as a consumer I feel quite irritated by the multitude of activities that lead to a successful online transaction.

    Since it is a one time hassle i think that i can live with it

    Good for u that u don't need to remember too many passwords

    Chakra does write lot of consumer affairs related posts. I think all of us feel strongly about it.

    It is definitely an overdose....hope they simplify it.

    Are u referring to my Skype connection? What is your ID?

    I guess the second time is a bit more simpler.

    In case I'm pinned out I start blogging :-)

    Good to know that I'm not alone.

    Shouldn't the various softwares interwork with each other so that there are no glitches?

    How do u manage to remember all the passwords?

    @Wicked Angel,
    I have never bothered to change the PINs.

    By Blogger Kaps, at 1:25 PM  

  • Kaps busy? :)))

    By Blogger visithra, at 2:49 PM  

  • Kaps, good post.

    I posted my thoughts here:


    By Blogger Chanakya, at 12:46 AM  

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