this post was submitted on 24 Mar 2024
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Privacy
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I mean banks are known for horrible security practices all around so that makes perfect sense.
Are they?
My bank restricts the length of my password to...16 characters, I think.
Mine only uses a 4-to-6 digit pin as a password, and sms for 2fa
Darren Kitchen from Hak5 has an amusing story about a bank teller who assured him email was entirely fine to send sPII through. "No sir, you just need to send it to us, and once we have your information then it'll be secure." No encryption. So, yes.
Also look into the Equifax security breach. Un-patched software for months.
It makes almost no sense to have a password length limit. 1_000_000, that's One Million, characters is equal to 1MiB. That's twice the length of the Lord of the Rings Trilogy and much less than most modern webpages. After hashing, which is how passwords should be stored, text length is irrelevant. All hashed inputs come out the exact same length. 65 characters for SHA256.
Very much known for their horrible security practices, yes. Absolutely.
Setting a max password length is sometimes done to prevent ddos attacks. Without it, attackers could just spam 1MB passwords constantly and force the login server to just spend all its cpu time hashing garbage.
That being said, a password limit of under 20 characters probably just means they are just storing passwords in plaintext.
In Brazil, the govt owned lottery site, created around 2015, only accepts passwords with 6 numeric digits. Your password has to be a number between 000000 and 999999. Only somewhat recently (6 months ago or so) they've added a 2FA through an email link.
Oh, said lottery is run by the biggest govt owned bank. Chances of people reusing their bank password there are very fucking high.
Absolutely. They are entrenched in their regulations so much that it takes forever to change things.
Years ago, I had an account at an american big4 bank with an 8 character password and was going through and making all my passwords unique. I was changing everything to random strings of 20-30 characters (this isnt the best practice, btw, but still better than 8chars), so when I get to this bank account it capped me at 15chars. I couldnt believe the forced low entropy they gave me for something as vital as a bank account.
I asked them why, and basically they said their system would break with anything over 15chars.
How many wrong guesses were you allowed before the system would lock your account?
Back then? Who knows
The equivalent of a 20-30 character random password with numbers and characters is a 7-11 word passphrase. Seeing how passphrase generators default to 4-5 words (equivalent to 11-14 characters) what you did isn't so bad
Be your own bank, use monero.
Show me a legitimate vendor that accepts Monero as payment.
Gratuitas.org
Alright, so monero is good for coffee, maple syrup, and meat bars (?!). I don't currently eat a lot of any of those things, so I'm not sure how this will help me with my groceries.
That was only one vendor, which is what you asked for. There's a whole directory of different vendors offering different services at monerica.com.
Looking at the Food & Drink section, it doesn't look like you can get much more than coffee and meat with monero, so I'm really not sure how you're supposed to "be your own bank" by using it and still have access to food.
I do it via instacart gift cards. Been doing it that way for over a year.
What about something like groceries, oil changes, metro cards, hospital bills, mortgage payments, rent, gym memberships, cash only business, payroll, or anything else that is actually needed by people.
Inatacart gift card, visa or mastercard giftcards, mortgage and hospital bills i dont have a way for, visa giftcards, cash only businesses would benifit greatly due to lower theft risk.
So your solution is to buy back into banking infrastructure at a fee?
It's a stopgap measure. Eventually, that won't be needed. So for now, I guess technically yes.
Yes thank you I will have my employer update my direct deposit information now
You're welcome.
Where is my routing number?
In your wallet. Its called an address and starts with "4" or "8"
My employer says they don't pay to non FDIC institutions
There are ways around that but it starts to get complicated. There are companies that will take your paycheck in your name and then automatically convert it and send you crypto, But I have never used them, so I don't know anything more than that.
If my name is written in FULL CAPS is it legally me? Or is that maritime law?
it's really sad that all your comments are getting downvotes while advocating for a free and open and private/anonymous payment system. this is why we wont succeed in the long term, our own community fights us on it.
Who do you think makes the decisions for a bank?
The person writing the Android app?
Or the person who just wants customers to be able to access the app and use the services?
Banks have laws and regulations that they must abide by to secure the access to and information of customer accounts. A security team will surely have to sign off on whatever the app developer or customer experience manager wants to implement.
Wait, did i step into an alternate universe? Did i escape the shadow realm? I'm free! I escaped the worst timeline!
How do y'all spell berenstain?