this post was submitted on 09 Dec 2024
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Privacy
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Oh the smart chip is best, its just not an option for CNP or bank transfers online
If you send a large wire transfer from your Dutch bank to an acffount outside the EU, I guarantee your bank is going to demand a transaction confirmation. 99% of the time that's going to be a SMS, unleee you're using their (closed source) app on your (insecure) phone
Well, I haven't really made any large wire transfers to accounts outside the EU from that bank in over a decade so can't really confirm or deny.
I do know that in past experience with banks in general, the people checking the validity of suspicious transations (and large transfers to accounts outside the EU tend to fall into that classification given the prevalence of online scams from countries were the Law is a bit of a joke) will actually call you, or at least they did in the UK some years ago (pre-Brexit) which was the last time I had experience with something like that.
(At one point I also worked in a company that made Fraud Detection software).
Maybe they switched to SMS to save money, I don't know.