I thought the deadline for SCA was delayed?
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Yeah, I don’t really want this thread to turn into Monzo vs Starling. I am just a bit frustrated that bit by bit I am nudged into direction of Starling … (I will stop here otherwise I’d just rant 
)
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Oooo… Controversial! 
I think this is a Monzo Mastermind moment…
“I’ve started so I’ll finish” 
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Or if you’ve set your own deadlines to the original deadline, and you’re hitting them, it can be easier to keep working to them anyway.
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I can see the Monzo office now…
“Guys… we are on target to hit our first…ever…deadline… Full steam ahead!”
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The situation is a little complex because Strong Customer Authentication has quite a wide impact, however the main delay is specifically around online e-commerce payments.
More info here:
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Or could it be a great marketing option?
‘Your current bank couldn’t meet the deadline - but look at us’
Just a thought?
I doubt it because the user experience is worse in my opinion (as well as the opinions of people in the industry) and if Monzo thought that these steps were necessary then presumably they’d have implemented this without being told to by the regulator.
I’m guessing that they’re rolling this bit out now because -
The FCA will not take enforcement action against firms if they do not meet the relevant requirements for SCA from 14 September 2019 in areas covered by the agreed plan, where there is evidence that they have taken the necessary steps to comply with the plan.
quote from here
Google the title of the FT story that I’ve linked to there to get around the paywall
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At least it seems to be your card PIN rather than an additional PIN to remember
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Depends if you were asked to change it recently 
.
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Is contactless changing because of SCA? I remember hearing that we’ll have to enter our pin more often than currently (though to be fair I rarely use contactless over Apple Pay anymore) but don’t know if it was linked to all this stuff.
Forgive my suspicion but the amount of times I’ve been told something is a legal requirement when it isn’t beggars belief.
What exactly does the law say? You’ll often find companies err way too strongly on the conservative side on things like this in a way that materially worsens customer experiences. Even worse, it’s sometimes merely due to them misunderstanding the law itself.
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Monzo has a very good track record of not doing this.
Check out the links in this post.
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I got an email from nationwide saying now when this is introduced every time I log into Internet banking they will send a one off authentication code to use
Care to elaborate please? (I was just today told they have a ATM withdrawal limit “for my own safety” as an example of couching decisions in meaningless wording)
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Yes that’s what it’s for, that’s not this. What would you like me to elaborate on?
The section I quoted: the track record you mentioned. I can’t see any citations or relevant information in the links you gave?
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Think you sent the wrong link, that’s about helping people access banking nothing to do with overeager/misinterpreted financial regs (like with the many GDPR or KYC fails we’ve seen recently with other finance related organisations). I wasn’t aware of their strong track record of robustly standing up to over-cautious reg-creep.
Do you mean making a payment to an existing payee or adding a new payee or something else? I only need password on new payee but perhaps I’m not doing what you are?
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