You usually put the PIN in and then it works by magick
Nothing at all.
However, they would have to had logged onto your online banking account on a known device through two step authentication.
My guess is that the use of a card reader is to ensure that the person carrying out the online transaction physically has your card and knows the PIN.
Your guess is exactly correct.
Its called two factor authentication for extra security. You provide two factors to validate yourself -
something you know (the PIN), something you have (the card - or phone), something you are (biometrics - fingerprint or face scan).
On the original subject, I am quite enjoying the revolut app, trying to change £1K each month saving a whole 4 euros on wise, - a good feature is you can set a target exchange rate, e,g, 1.201 euro yesterday and when the market hits that rate revolut does the exchange.
The app has a built in ‘virtual’ debit card, so if I want I can use it to pay for stuff so may be a better strategy to buy euros high then spend them during the month, instead of using a credit card whose rate will vary each day.
even better are the disposable debit cards… use it once and it’s toast, replaced immediately after with a new card/number and CVV making any attempt at cloning useless.
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Since we have virtually no mobile signal in the house we love the gizmo”s and were pissed off when the banks started to phase them out, however have persuaded one UK bank to let us keep on using it. And we hate apps, and all these things.
I wish the banks would devote more attention to stopping hacks, and securing our accounts, or even answering the phone when we want to do something unusual that requires extra confirmation, than dreaming up complex mechanisms to access my own money.
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Does you phone not work over WiFi?
I have not had one of the touch pad devices my banking app has a built in certificate that does something secure - and that is as far as I want to know!
My mobile works for WhatsApp calls over wifi, but strangely not for receiving texts from banks and similar or other phone calls… Mind you our intenet speed of 2mb/s means the wifi is pretty hopeless generally. Roll on March ans getting fibre
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Texts and voice traffic have to go by mobile signal (2G and 3G) unless the phone is enabled to receive over wifi.