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   HOME   >   BANKING AND SAVINGS COMPARISONS   >   HOW DO PERSONAL BANK CARD SECURITY READERS WORK?
How Do Bank Card Readers Operate? Explanation of how Bank Card Readers Actually Work and Communicate

How do Bank Card Readers Work?

The relatively recent phenomenon of online banking has completely revolutionised the way that we do business. The horrendous queues at the local branch that we once took for granted were alleviated a tad by the advent of the ATM machine, but the death knell for the cheque book has in truth been sounded by the widespread use of Internet banking.

Once the technology had become available its popularity was inevitable and quite assured. Paying bills and transferring money by keying in a few digits from the comfort of one’s home renders the old practice of writing a cheque, putting into an envelope, licking the seal, affixing a stamp and walking it down to the nearest post box quite preposterous. Like washing machines and mobile telephones, online banking technology has already passed into the hallowed ranks of things that we wonder how we ever did without.

But there is a downside as there is to most things, and in the case of online banking it is the threat of the user’s security being compromised. Most of us will have received e-mails purporting to be from banks that we don’t even have accounts with advising us that we need to update our details by following dubious links.

If we are to have confidence in Internet banking technology it is essential that those in whom we entrust our funds are always one step ahead.

In trying to understand how do bank card readers work we need first to be clear about what their precise role is in the security process. Their role is, essentially, to provide another level of security beyond that which is offered by use of a simple PIN and password. By requiring the customer to employ the card reader, which arrives via the post under separate cover to the other security information, it is extremely difficult for a fraudster to hack into his or her account.

How do bank card readers work in practice?

A bank card reader is a very small, hand-held piece of equipment that has the outward appearance of a pocket calculator. It has a slot into which you place your bank card, which activates a series of commands which, when followed, allow you to perform certain advanced functions which you would not otherwise have been authorised to undertake. The range of additional functions that it enables varies according to which bank you are with.

Ownership of a bank card reader transforms security information from something you know to something that is in your physical possession, making it impossible for hackers to breach for as long as the equipment remains in your hands.

Most banks now offer free security card readers for their online banking purposes for added security, if you're currently considering swapping your bank, why not check out the latest bank account deals at the above websites.

 
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