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My Opinion On (*737*#) - Business - Nairaland

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GTBANK Introduce Security Pin For *737# Transactions / My Experience Using Gtbank *737* Transfer Service / MUST READ : Why Gtbank Latest 737 Simple Mobile Banking Is A Beautiful Nonsense (2) (3) (4)

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My Opinion On (*737*#) by ibullem(m): 12:04pm On Oct 05, 2015
Hi Guys,

Happy belated independence anniversary. I hope this gets to the front page, so we can get others view on this subject matter. grin

I love mobile banking, tele-banking, and in fact anything that will prevent me from walking into a bank for any transaction whatsoever. Especially considering the long endless queues, having to talk to some obnoxious bankers/tellers, or even getting a parking space at the bank, not to mention the crazy Lagos traffic and the total time it will even take you to perform a simple transaction, just to mention a few.

This brings me to the conclusion that the GTB USSD funds transfer gateway is actually awesome, its USSD peeople cheesy, so you don't bloody need internet connection.

BUT...

My problem is the VERIFICATION and/or AUTHENTICATION method used. Lemme give a little background for the sake f those who are not conversant with how the solution work.

If you have a GTB account, its automatic you can use the solution.
to transfer funds, you type *737*1*amount*nuban no# for gtb to gtb transfer, and *737*2*amount*nuban no# for gtb to others using the number you get alerts from.
you are then prompted with the amount to be transferred, and the Account name of the beneficiary for confirmation, and asked to enter the last four digit of your ATM Card (yes, that wasn't a typo, your ATM last four digit number,* pere*), to finalize the transfer. And ladies and gents... my brother, my sister, that is Freaking all!!! (yes, you read right, that is ALL you need to transfer funds from your account).

Let me give you something to chew on, grin, just imagine a notorious friend of yours just happens to be with your phone(the one you get alert on), for say, just five minutes or even less, and your ATM card is unfortunately just lying around there somehow. Did i hear someone say YIMU cheesy

That is how porous that system is, my take tho. smiley

Lemme borrow a line from the great philosopher Socrates, 'I know that I know nothing', but I should think a PIN and/or OTP or something better would have been more feasible.

I know security can never be 100%. I'd still prefer a 99.9% secured to a 75%.

Lets keep it straight, i'm not here to slight anyone or water down on someone else's great work. I'm on the stand that what has to be done, has to be done RIGHT.


by the way, those useless boiz wey steal my Friend Dammy phone and wallet, withdraw all the money wey dey him account through *737*, God dey look wuna with 579D screen. The thunder wey go fire wuna, just finish press up for sambisa. Awon Oloriburuku of Life.

So women, men and brethens grin, lets call on the Oga(s) at the top to move this thread to the promise Land kiss


Cc: Lalasticlala, Lalasticlala, and Lalasticlalacheesy
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Re: My Opinion On (*737*#) by KnowMore: 12:07pm On Oct 05, 2015
I love this thread brother. The required code should have been ATM PIN code and not the last fore digits. GTBank need to do something about this for the safety of people's cash.

1 Like

Re: My Opinion On (*737*#) by pneumaticos(m): 12:37pm On Oct 05, 2015
KnowMore:
I love this thread brother. The required code should have been ATM PIN code and not the last fore digits. GTBank need to do something about this for the safety of people's cash.

I think they did it to.reduce the service cost on their end...I normally transfer with a pin when they first stated the servic, and without them charging the 20 naira thing but seems everything has changed now
Re: My Opinion On (*737*#) by ibullem(m): 12:49pm On Oct 05, 2015
pneumaticos:


I think they did it to.reduce the service cost on their end...I normally transfer with a pin when they first stated the servic, and without them charging the 20 naira thing but seems everything has changed now

I really am not too sure how their back-end looks like, but I don't think using a PIN will necessarily incur more cost as against the Last four Digit thingy. Well what do I know. lipsrsealed

Besides, they already charge #20 per transaction.
Re: My Opinion On (*737*#) by PassingShot(m): 1:07pm On Oct 05, 2015
A question:

Aren't you first required to login onto your account first before you can do a mobile transaction?

I think if this is in place, it will be difficult for fraud to take place.
Re: My Opinion On (*737*#) by hahn(m): 1:15pm On Oct 05, 2015
PassingShot:
A question:

Aren't you first required to login onto your account first before you can do a mobile transaction?

I think if this is in place, it will be difficult for fraud to take place.

I believe the point of the mobile transfer is so that you can make a transfer without internet connection.

Op, requesting for a pin will be more ideal. Requesting for the last for digits of one's atm is too obvious.

Have you sent this suggestion to gtb customer care?
Re: My Opinion On (*737*#) by ibullem(m): 1:17pm On Oct 05, 2015
PassingShot:
A question:

Aren't you first required to login onto your account first before you can do a mobile transaction?

I think if this is in place, it will be difficult for fraud to take place.

Boss nothing like that ooo

Just pick any phone, i mean any phone, provided the person receives Gtbank alert on it, dial that shortcode on the Dialer and you are good to go.
Dazz all , like that 'my oga at the top' officer will say grin

1 Like

Re: My Opinion On (*737*#) by faray: 1:29pm On Oct 05, 2015
e no concern me
how person wan take withdraw my money inside my kolo?

1 Like

Re: My Opinion On (*737*#) by ibullem(m): 1:50pm On Oct 05, 2015
hahn:


I believe the point of the mobile transfer is so that you can make a transfer without internet connection.

Op, requesting for a pin will be more ideal. Requesting for the last for digits of one's atm is too obvious.

Have you sent this suggestion to gtb customer care?



I couldn't agree more.

Before Creating this thread, I actually did twitted at them. Didn't occur to me to write instead. Social media don spoil us finish cheesy, more like.. why write? when i can tweet grin

1 Like

Re: My Opinion On (*737*#) by PassingShot(m): 1:51pm On Oct 05, 2015
ibullem:


Boss nothing like that ooo

Just pick any phone, i mean any phone, provided the person receives Gtbank alert on it, dial that shortcode on the Dialer and you are good to go.
Dazz all , like that 'my oga at the top' officer will say grin
Then a lot needs to be done by GTB in that regard. The minimum being that a login is required into one's account before any mobile transaction is effected.
Re: My Opinion On (*737*#) by hahn(m): 2:03pm On Oct 05, 2015
ibullem:




I couldn't agree more.

Before Creating this thread, I actually did twitted at them. Didn't occur to me to write instead. Social media don spoil us finish cheesy, more like.. why write? when i can tweet grin


Lol
Re: My Opinion On (*737*#) by Odogwu007: 3:55pm On Oct 05, 2015
Choi. FP please....
Re: My Opinion On (*737*#) by ibullem(m): 5:21pm On Oct 05, 2015
Odogwu007:
Choi. FP please....

Baba abeg call Lala to move this ministry go front page sharpenly wink

@Lalasticlala, your boy still dey wait you ooo. come chop your food grin
Re: My Opinion On (*737*#) by dagr8(m): 7:27pm On Oct 05, 2015
Op, you are very correct,I noticed it when I needed to recharge a phone number that is not my bank phone number and I was asked to type the last 4 digits on my ATM to confirm the transaction . What is more annoying is that in the SMs alert sent to me it didn't show the phone number I recharged. That means anybody who has access to my ATM can quickly 'deal' with me and get away.
GTBank please there should be a PIN to protect us
Re: My Opinion On (*737*#) by dagr8(m): 7:44pm On Oct 05, 2015
Meanwhile, pending the time GTBank would add a better security,these tips can help in securing your hard earned kudi..
1. Don't use your main mobile/public number as your bank alert phone number..
2. Keep your ATM well...like you keep your PIN
Re: My Opinion On (*737*#) by dagr8(m): 7:50pm On Oct 05, 2015
pneumaticos:


I think they did it to.reduce the service cost on their end...I normally transfer with a pin when they first stated the servic, and without them charging the 20 naira thing but seems everything has changed now
Security of funds is more important than service cost o. The last four digit thing is porous...I wasn't comfortable since I found it is that cheap to transfer funds from another person's account
Re: My Opinion On (*737*#) by ibullem(m): 5:43pm On Oct 06, 2015
dagr8:
Op, you are very correct,I noticed it when I needed to recharge a phone number that is not my bank phone number and I was asked to type the last 4 digits on my ATM to confirm the transaction . What is more annoying is that in the SMs alert sent to me it didn't show the phone number I recharged. That means anybody who has access to my ATM can quickly 'deal' with me and get away.
GTBank please there should be a PIN to protect us

You very right bro,

I even forgot to mention that recharge thingy. Can you imagine that, just imagine such bullsh1t.

Anybody with your phone, and the last four digit of your pins, ones your account at that instance, and can do an undo with ones hard earned cash.
Re: My Opinion On (*737*#) by ibullem(m): 5:46pm On Oct 06, 2015
dagr8:

Security of funds is more important than service cost o. The last four digit thing is porous...I wasn't comfortable since I found it is that cheap to transfer funds from another person's account

Security of funds is so important.

My take is if they want to stick to their guns and continue with the status quo, then they should make the solution optional, you opt for it. And not necessarily activated on every account
Re: My Opinion On (*737*#) by ibullem(m): 5:47pm On Oct 06, 2015
dagr8:

Security of funds is more important than service cost o. The last four digit thing is porous...I wasn't comfortable since I found it is that cheap to transfer funds from another person's account

Security of funds is so important.

My take is if they want to stick to their guns and continue with the status quo, then they should make the solution optional, you opt for it. And not necessarily activated on every account.
Re: My Opinion On (*737*#) by twosquare(m): 6:35pm On Oct 06, 2015
Although, more should be done, but anyone who access your account will be someone close to you. First, how do you know I'm using GTB? Second, you can't say if I connect the phone number with my account except you've seen previous alerts in my inbox. And without my ATM, how can you know my last 4 digits number on my ATM card? Or do you even know I've just collected a new one?
Re: My Opinion On (*737*#) by kode12: 7:06pm On Oct 06, 2015
Though I agree the security iant enough,using your pin puts you @ a great disadvantage. Don't forget your phone stores sent text messages so what if a person gets hold of your phone and sees the pin,its just to lay ambush for your card and just like that you could lose real money. I think the best way to do this is for them to send a multichoice question back to you to respond to e.g If your account pin is 4444 after sending the transfer text they could send you a message asking you to select your pin by replying
1.1234
2.2222
3. 4444
So you simply reply either 1,2 or 3 and the option vanishes. That way no residue is left on your fone to track your transaction
Re: My Opinion On (*737*#) by ibullem(m): 9:18pm On Oct 06, 2015
kode12:
Though I agree the security iant enough,using your pin puts you @ a great disadvantage. Don't forget your phone stores sent text messages so what if a person gets hold of your phone and sees the pin,its just to lay ambush for your card and just like that you could lose real money. I think the best way to do this is for them to send a multichoice question back to you to respond to e.g If your account pin is 4444 after sending the transfer text they could send you a message asking you to select your pin by replying
1.1234
2.2222
3. 4444
So you simply reply either 1,2 or 3 and the option vanishes. That way no residue is left on your fone to track your transaction

I get your point, only that
In this solution, you are not sending text messages to short codes, but you dial the short code and enter details when prompted.

So I don't think anything will be saved.
Re: My Opinion On (*737*#) by ibullem(m): 9:22pm On Oct 06, 2015
twosquare:
Although, more should be done, but anyone who access your account will be someone close to you. First, how do you know I'm using GTB? Second, you can't say if I connect the phone number with my account except you've seen previous alerts in my inbox. And without my ATM, how can you know my last 4 digits number on my ATM card? Or do you even know I've just collected a new one?

You have a point there.

But just imagine a scenario in which someone lost his phone and his wallet at the same time.

Or you are even robbed of your phone and wallet, and your gtb ATM is right inside the wallet.

It won't be rocket science again, chances are the fellow might as well say good bye to his money if the robbers know what to do with the two items.

Were it to be a PIN, the odds of the robbers doing a transfer with the phone, will be very slim and highly unlikely.

1 Like

Re: My Opinion On (*737*#) by kode12: 9:45pm On Oct 06, 2015
ibullem:


I get your point, only that
In this solution, you are not sending text messages to short codes, but you dial the short code and enter details when prompted.

So I don't think anything will be saved.
The principle is still the same. Itshould for the provider to give you a prompt with multi choice of pin that's all.
Re: My Opinion On (*737*#) by pneumaticos(m): 5:59am On Oct 07, 2015
kode12:
Though I agree the security iant enough,using your pin puts you @ a great disadvantage. Don't forget your phone stores sent text messages so what if a person gets hold of your phone
Soyour transaction

I dont get this.do phones store ussd interactions.how is your point possible

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