14 
One step forward, two steps back. NatWest has, seemingly, had to pull its app that allowed you to get cash out of a cash machine without needing a debit card. It seems fraudsters could hijack the app and rinse people’s bank accounts for cash without them knowing a thing about it.
It’s all very well allowing people to take cash out without having to carry a wallet, but if it’s not secure it’s just a gaping hole in your banking security. NatWest apparently removed the app as part of a “planned update”, but it certainly looks suspicious in timing with customers complaining of fraud left, right, and centre.
Let’s hope it can plug the holes and get the facility back out there, because being able to withdraw cash with just your phone is awesome, especially as we don’t really have a decent, fully integrated NFC payment system yet. [The Guardian]
Image credit: ATM from Shutterstock
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Clearly Natwest is not the underdog otherwise this would not be happening because as have been made aware “It’s a year for the underdogs of tech”.
Clearly
You two are all over this underdog of tech talk today aren’t you but who is the underdog this year you speak of? Apple?
Raspberry PI?
No, It’s not underdog, it’s underdogs, it’s their year according to a reliable source.
Sam, they still have the service where you can call them and they will give you a code to use at the nearest ATM, to get money out without a card.
Yep, just not the app dedicated to it. I’m not sure whether the service itself is still up and running though.
Woah! New avatar, I see.
The corporate one. I am now a cog in the machine
ha ha
Welcome!
Going on the info from the RBS app, the service is still available but is being restricted in line with their enforced branch sales so the RBS facility now only works for Scottish RBS customers.
Where do they enter the code? I work for them.
Where do natwest enter the code? I assume they have a system that passes a message to the ATM in question to expect someone to enter a certain code and to pay out an agreed ammount. Where do you work for them, if counter staff or IT I would assume you knew about this.http://www.natwest.com/private/black-membership/g2/banking-benefits/emergency-cash.ashx
So I’ve wasted my time trying to hack this?
No big surprise!
For any application or method of transaction we need to have a standarised method across multiple banks, not just one bank trying to go it alone. Chances of successfully developing a secure system will be more likely if banks work together.
I don’t blame banks who shy away from technology such as this as the consequences of failure and the lack of control far outweigh the gains.
And who is to blame in this particular scenario, the bank, the mobile operator, the device manufacturer, or the hacked OS???
“For any application or method of transaction we need to have a standarised method across multiple banks, not just one bank trying to go it alone.” Have you realised that Apple does the exact opposite of what you are preaching?
Apple is not a bank now is it?
Any company that wants to go it alone most other ways is fine, it’s a different thing when it comes to financial transactions.
And before you start, I really couldn’t care less about bleeding iWallet or NFC! Can’t blame Apple or Google for developing an Application. It’s the banks that sign up that stand to lose out.. .
Financial institutions are interdependent, that’s just a fact, when you make a purchase of play.com many different organisations and processes are involved, not just the bank who issued the card… Working closely together can only help develop better systems and processes.
In my view Cash is King!!
I don’t plan on using a mobile to make payments other than with PayPal.
Indeed, I do believe he has you there Taf.
You could not be more wrong! Is Apple a bank? No!
Of course Apple isn’t a bank Taf, no-one could make that mistake. After all one has Billions, some of which it obtained through dubious practices and overcharging it’s customers and the other one …well you can see where I’m going with this.
I was listening to the radio the other day and they had a Software developer on who had about had this problem.
Somehow they got his details and used the cardless cash scheme within the app to try and withdraw about £1500 from his account using the app. If you phone them you’re limited to withdrawing £100 but the app just let them withdraw as much as they wanted.
That’s odd because according to the RBS app which offered similar functionality, you are still limited to your daily ATM withdrawal limit.
I know you can transfer money within the app so maybe you could lose a lot more money that way but I’d be very surprised if any bank ever allowed someone to take £1,500 from an ATM as it would rapidly deplete the money allocation in the ATM.
I believe they moved the £1500 from his savings account to his main account and continued to use different cash points to get the money.