One-time password renders card useless abroad
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Jul 9, 2011 - ST Forum
THE DBS Bank's one-time password (OTP) system aims to make transactions more secure without adding significant inconvenience to its users.
However, my recent experience with it in Seoul proved otherwise.
South Korea uses a different telephone system, so I could not use my SingTel line. This proved disastrous when I tried to use my DBS credit card to purchase air tickets for an upcoming overseas trip.
I could not receive my OTP, which is delivered via SMS. When I contacted DBS customer service, I was told to update my overseas phone number on the DBS iBanking system and that the change would take effect a day later.
It turned out to be a wrong advice. Two days later, I was told I had to print and send a document through snail mail to DBS before it could update my overseas mobile phone number in the system. This paper and stamp process would have taken a week.
Such a requirement prevents credit card holders from completing a critical online transaction while overseas. I had to use my United States credit card and pay a higher international transaction fee, as well as less favourable exchange rates.
What is the use of a credit/debit card if it is unable to allow card holders to make transactions conveniently?
Banks in other countries allow many other flexible means of updates and verification instead of just snail mail documents, which can be forged.
They include communicating through a verified e-mail account, and cross-checking recent transactions and personal details, among others.
These strike the right balance between security and convenience.
David Sng
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Snail mail.
Those which you need to paste a stamp at the top right hand corner of the envelope.
And you need to write the receiver's address in the centre.
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sometimes the assumption of goodness becomes a nightmare for the users.
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really, if 1 card doesn't work i wd use another card from my array of cards
who only have 1 credit card these days?
life shd be enjoyed and not get angry over such a small thing
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"I had to use my United States credit card and pay a higher international transaction fee, as well as less favourable exchange rates."maybe he cheapo.
i dunno why he need to have the OTP.buy air tic online or over the fone just need cc details wat.
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He should try carrying cold hard cash around in his pockets.
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Originally posted by charlize:
He should try carrying cold hard cash around in his pockets.
cash is king.
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he should just stay in singapore
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That's why many people will advise you to get credit cards from overseas banks.
Globally more user friendly and accepted.