Banking

The high-tech bank card of the future costs just €12

By Oliver Smith 22 November 2016
Summary

This is the low, low price of your financial security.

Banking security is broken, but now the super-secure MotionCode bank card that we revealed in September is being offered to some 8m of Société Générale’s French customers.

Read more: This high-tech card is being rolled out by French banks to eliminate fraud

And the cost of protecting yourself from online cyber criminals with this high-tech bank card of the future?

Just €12 a year.

Yes Société Générale has just announced that this fantastic card that will protect you against the most dangerous online criminals is available for the cost of two Starbucks lattes.

That’s a small price to pay in comparison to the millions being stolen every year from the helpless victims of this type of digital crime.

The price of security

If you don’t remember, this card, developed by French card-maker Oberthur Technologies, has a digital display that changes the three CVV digits that you have to input when buying online.

Every hour the three digits change, and the previous three digits become essentially worthless, leaving criminals who steal your bank details with a bunch of worthless numbers.

In the wake of the £2.5m heist of Tesco Bank’s customer accounts earlier this month, in which criminals are suspected to have used cloned cards to withdraw cash, Oberthur’s high-tech card has never been more needed.

The question therefore is, at just €12 a year, surely Britain’s banks need to be taking a long, hard look at this technology and rolling it out to their customers as quickly as possible.

Before it’s too late.