Internet Banking In Thailand: Security, Usability, Offerings

[TheScribe]

I have been looking at the Internet banking offerings from SCB and Bangkok Bank, and I'm a bit surprised at what I'm seeing. I'm not an expert in computer security, but...

Both banks have login screens that request username and password in full. Both are using 128-bit encryption, and that's fine, but it seems that there is no protection against key-loggers etc. Snooping your username and password in an internet cafe is easy, snooping on your home PC is not difficult if you don't have all your anti-virus & anti-spy stuff well set up. I've used inet banking in Switzerland, Netherland and the UK, and none of them use this system any more.

What needed (at least) is a system to interrogate you about you password (enter the 4th, 12th and 15th character etc.) so that the password is never keyed in full. Better is giving users a hand-held device with a card and PIN - the login process send a code, then the device gives you a one-time-only password. The PIN never goes on the 'net. A cheaper solution is to send an SMS one-time password for every login. Would-be thieves need your username, password AND mobile phone.

As things stand, it's easy to see why the services are pretty restricted - i.e. can only transfer to accounts that you've registered in person. Both SCB and BKB only let you transfer monies to accounts with themselves - someone mentioned that Kasikorn allows transfers to other banks, but that also needs to be registered beforehand.

In short, I think the security is not high, and it's use these service with care - inet cafes could be especially vulnerabl places to do business.

Steve.

[cclub75]

I have been looking at the Internet banking offerings from SCB and Bangkok Bank, and I'm a bit surprised at what I'm seeing. I'm not an expert in computer security, but...

Indeed. TMB (Thai Military Bank) has the same -poor- system for its online banking.

Regarding the external device (that generates a one-time-only-code), that's a very secure solution. HSBC uses it.

[Maestro]

In short, I think the security is not high

I agree with you that Internet banking is very underdeveloped in Thailand. The rest of the banking service isn’t much to write home about, either.

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Maestro

[naka]

Yes ... They are all a bit of a joke ... Kasikorn probably comes closest to being useful

cos I can use it to top up my phone without getting that black stuff under my fingernail.

Bit sad really ... not like they need to reinvent the wheel.

Naka.

[Khun Bob]

Kasikorn seems to be the only Thai bank that lets you set up a transfer to a 3rd party, either in the bank or with another bank, online (ie not having to fax, visit the branch or post a form to the branch). To increase security they have a second password or for more security a one time password that is sms'd to your phone (only Thai mobile though).

Bank of Asia's inet banking looked good, but they were taken over (and they werent strictly a thai bank),

The security seems to be implemented by limiting what a genuine or not user can and cannot do...

[cosmont]

BBL do not allowed companies to use e-banking, only individuals can use

This policy will maybe change this year, wait and see ...

[Krub]

BBL do not allowed companies to use e-banking, only individuals can use

This policy will maybe change this year, wait and see ...

Only if you have a work permit

[Florin]

KBank's online banking system is indeed excellent and the most developed one among the Thai banks

BTW, BBL does allow you to register for online banking on a student visa as well...requires a bit of insistence at the branch, but they do it.

[Krub]

KBank's online banking system is indeed excellent and the most developed one among the Thai banks

BTW, BBL does allow you to register for online banking on a student visa as well...requires a bit of insistence at the branch, but they do it.

Students are lucky then because as a 'retired' with a 1 year extension they would not have it even though I had been with them more than a year and had a very good balance more than 1 mio. Thye lost a potential good customer for ever