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banking passwords - telephone banking


rodeomom
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my former bank (commercial federal ban) just merged or was bought out by bank of the west. so transition etc., going on

having problems w/ telephone banking so I finally get a human on the line. I ask how to change current password (they did mandatory change of passwords during conversion to the last few of SS#) to something different. She tells me it cannot be changed and password must remain part of ss#. Is this legal??? I was thinking no one could force you to use part of that # for something such as in KS you could use it as DL # if you wanted..

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Technically it is legal at this moment, Especially because it isn't the full SSN.)

Congress is considering making this illegal.

However, Your state may have laws against this practice.

I suspect that if you were to contact your State AG and/or banking commission, they would ask your new bank so many questions, the bank would change the policy.

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Legal or not, any bank that tried to tell me what my password has to be would no longer be my bank. That's a wanton disregard of data security and our finances are too important. If an intruder gained access to a list of customer social security numbers it would only be a matter of time before they cracked the passwords as well.

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The use of a SSN for a password or username by banks is out of laziness. It’s just too easy to use it, thus the inherent security flaw.

I hate it when banks try to use an SSN as a password or as identifying information because the next financial institution will then use it as a username.

There really is no privacy involved with an SSN because there are so many places to find the name it is attached to. And it was never intended to be used as a national ID even though by default it has become one. I remember reading some articles that say to ask any old-timer and they will tell you that the older SSN cards used to say:

Not to be used as identification

In the ideal scenario, a customer ought to be given a unique username in addition to their account number and then a unique password.

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thanks so much for the info!!

I think I will contact our att. gen. tomorrow and see what KS says regarding the matter.

I don't want to change banks if I don't have to, but it is certainly an option, however, with recent BK filing in aug., I don't know if that will hinder me or not.?

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rodeo,

I have opened bank accounts quite a few times in the past year right after my BK7. They have no clue you have filed unless you apply for credit, so you are in good shape if you do choose to switch banks. The banking database that they will check doesn't list BKs- it only looks for negative banking history (bounced checks, closing accounts in the red, etc.).

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Hi Rodeomom,

(P.S. - I still remember how to spell you name correctly. LOL )

I am so glad to hear you haven't needed the prayer. I guess the best defense is a good offense...

A couple of more weeks won't hurt you too much. Give the AG a chance . ALL financial institutions are nasty -so many times you are trading one set of problems for a new set of problems. At some point it might become a good management decision to get a new bank, but make it as a result of a plan to benefit you at your convenience. Not a reaction.

Hi jq26,

Good information thanks for the feedback.

I was unaware that Check Systems and Telecheck don't check for BK.

Best wishes,

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FYI:

Some banks do use regular CRAs for credit checks, not just the little CheckSystems and Telecheck CRAs.

See thread:

http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=37924&postdays=0&postorder=asc&start=15

Which has a section from GrimRepo-

Grim can attest to credit reports for even basic checking accounts. Grim went to several banks when he divorced (upon advice from "friends" - don't stay with your original bank because the ex-wife may get account access) and several of them turned him down for a basic account, and all turned him down for an ATM/Debit card. Finally he went back to the back where his and his ex's joint account was kept and they opened up a new account in his name only.

I think this depends on the bank and the region of the country.

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FYI:

Some banks do use regular CRAs for credit checks, not just the little CheckSystems and Telecheck CRAs.

See thread:

http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=37924&postdays=0&postorder=asc&start=15

Which has a section from GrimRepo-

Grim can attest to credit reports for even basic checking accounts. Grim went to several banks when he divorced (upon advice from "friends" - don't stay with your original bank because the ex-wife may get account access) and several of them turned him down for a basic account, and all turned him down for an ATM/Debit card. Finally he went back to the back where his and his ex's joint account was kept and they opened up a new account in his name only.

I think this depends on the bank and the region of the country.

the banks were Wells Fargo, Bank One, and Marquette, and a small CU. The CU let me have a "share draft" account but not an ATM card.

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