Two-factor authentication in the Philippines

[BrettGC]

4 hours ago, Dave Hounddriver said:

It means you download a certain app and register with your bank so that whenever you sign on, online or on your mobile, there will be a signal sent to your phone app.  In my case I simply have to use fingerprint, facial id, or a password and I am in.  No need for a sim card once you are set up.  Just have to be connected to wifi.

I cannot be sure about banks in the US but they will probably not be far behind on this

Google authenticator and many computer game companies have been using this method for at least 15 years that I'm aware of.  I'm confused that financial institutions have failed to keep up.  They could even tie the authentication into Google authenticator if they chose to, for a price of course.  Given that the world is a much smaller place these days and phone reception is not always guaranteed (ask anyone that lives outside of the densely populated areas in Australia - compared to that PI isn't actually terrible in this respect) but you can almost always get a wifi signal from somewhere, it's a bit of a joke that they aren't all over this like a nasty little rash IMHO. 

[hk blues]

28 minutes ago, BrettGC said:

Google authenticator and many computer game companies have been using this method for at least 15 years that I'm aware of.  I'm confused that financial institutions have failed to keep up.  They could even tie the authentication into Google authenticator if they chose to, for a price of course.  Given that the world is a much smaller place these days and phone reception is not always guaranteed (ask anyone that lives outside of the densely populated areas in Australia - compared to that PI isn't actually terrible in this respect) but you can almost always get a wifi signal from somewhere, it's a bit of a joke that they aren't all over this like a nasty little rash IMHO. 

You're totally correct but I wonder if the reason for banks being unwilling (not unable) to keep up is due in some part to the fact that banks have typically been kinda arrogant about servicing their customers compared to other sectors and industries and therefore aren't necessarily customer-driven. Ergo, they don't look for better ways to interact with customers.

That's probably what years of near-zero interest rates and thus retail customers being more of a source of cost than revenue does.  

[Kingpin]

9 hours ago, Mike J said:

I only need it to be able to draw funds from an ATM.

You should look for one that refunds fees, Chase is not it.

6 hours ago, mountainside said:

The only US institution I could find that permits expats to open an account from overseas is SDFCU.  No need for a US address. 

HSBC does it better, no need for US anything, link it to a HSBC account in the Philippines and that's all anyone ever needs. Unlike other banks, which are terrified of anything outside the US, HSBC specializes in it.

8 hours ago, Dave Hounddriver said:

you download a certain app and register with your bank so that whenever you sign on, online or on your mobile, there will be a signal sent to your phone app

US banks have that, the problem is many don't allow downloads (or usage) unless you're in the US, so you'd have to use a VPN on your phone every time you log in here.

[OnMyWay]

2 hours ago, Kingpin said:

You should look for one that refunds fees, Chase is not it.

True, but most that refund fees are brokerages or select credit unions.  The brokerages can't know that you are living in PH.  I used to write myself a Chase check and transfer money that way, but have not done that in years, since my kids and I started SS.

3 hours ago, Kingpin said:

HSBC does it better, no need for US anything, link it to a HSBC account in the Philippines and that's all anyone ever needs. Unlike other banks, which are terrified of anything outside the US, HSBC specializes in it.

I tried to figure this out a few years ago.  Is it possible to open an HSBC U.S. account without being in the U.S.?  Didn't they scale back U.S. operations?

[Kingpin]

23 minutes ago, OnMyWay said:

Is it possible to open an HSBC U.S. account without being in the U.S.?

Yes, they'll confirm your identify via webchat.

24 minutes ago, OnMyWay said:

Didn't they scale back U.S. operations?

Only non-Premier accounts got cut.

[OnMyWay]

13 hours ago, OnMyWay said:

Last night, as I mentioned above, I tried 2fa on Chase.  It gave my 3 options: Text to my US Google Voice, text to my PH mobile, or a phone number to call.

So I guess I have my PH number registered.  I will see if I can test it.

@Mike J

Tried the Chase 2FA again.  This is what the options are.  The 6717 is my PH number and it is grayed out for text.  However, it is there for "Call me".  I don't really want to try that. Might start asking me questions I don't remember, like "What street did your third cousin once removed live on when you were 8 years old?".   It is probably a computerized call??? 

[Kingpin]

2 hours ago, OnMyWay said:

Might start asking me questions I don't remember, like "What street did your third cousin once removed live on when you were 8 years old?".   It is probably a computerized call???

It's just a recorded message with a code.

[Dave Hounddriver]

16 hours ago, hk blues said:

I may be mistaken but doesn't the phone need a sim card inserted to have wifi - not necessarily an active sim?

I believe you are correct.  My comment should have said that no specific sim is required, so any one you are using to activate the phone will do.

[baronapart]

On 6/16/2023 at 11:20 PM, BrettGC said:

Google authenticator and many computer game companies have been using this method for at least 15 years that I'm aware of.  I'm confused that financial institutions have failed to keep up.  They could even tie the authentication into Google authenticator if they chose to, for a price of course.  Given that the world is a much smaller place these days and phone reception is not always guaranteed (ask anyone that lives outside of the densely populated areas in Australia - compared to that PI isn't actually terrible in this respect) but you can almost always get a wifi signal from somewhere, it's a bit of a joke that they aren't all over this like a nasty little rash IMHO. 

State Dept Federal Credit Union has this option. They also allow you to have a foreign address which is rare for banks or credit unions in the States.

Edited June 19, 2023 by baronapart