Bank Services: Mobile Phones

Treasury written question – answered on 10th September 2018.

Alert me about debates like this

Photo of Alex Sobel Alex Sobel Labour/Co-operative, Leeds North West

To ask Mr Chancellor of the Exchequer, whether he has issued guidance to consumers without mobile phones on alternatives to the one-time password code banking system; and if he will make a statement.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Under the Payment Services Regulations 2017 and the preceding 2011 Regulations, banks are required to have systems and controls in place to manage security risks, including those relating to authentication of a payment. It is a commercial matter for the banks as to how they manage these risks, including the use of one-time passcodes, or alternative systems, and their responsibility to issue guidance to customers about their use.

UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a requirement for firms to provide a prompt, efficient and fair service to all of their customers, including those without mobile phones.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.