My bank brings in QR codes

[whatspopping]

My bank started using QR codes instead of single-time passwords and ATM PINs for withdrawing money or making some account-related changes. So, I can scan a QR code at the ATM or cash counter instead of remembering a PIN. Really convenient for me. QR codes can offer an end-to-end encryption security feature for transactions, and this added layer of security provides peace of mind when dealing with them. But that's me, I know a thing or two about QR codes. Been using them for payments, and fun for years. I can't imagine my uncle finding this cool though. And honestly, I don't even know how common it is in financial institutions nowadays. Have any of you come across QR codes being used like this at your banks? Would it be a yea or nay for you?

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[moneystery]

ikr, it makes it easy for customers to be able to pay or withdraw money using the banking application on their smartphone. customers only need to scan the qr and then verify their face (iphone users) or fingerprint (android) and then they can carry out their transactions. i have tried this feature several times, and it clearly makes it easier for me, because i don't carry my card all the time, so when i just carry my smartphone i can make transactions at any time, without difficulty.

[thrillainvanilla]

From what I know, this practice is quite common in half of Asia but slowly becoming popular in Europe and the USA too. They use them for loan applications, where you can just scan a code to fill out forms and submit documents quickly. For example, my friend in Singapore withdraws money with QR codes, I think the bank is called OCBC. And it's not just banks – lots of businesses are using QR codes for payments too. I assume this is why the best QR code generator platforms keep investing in advanced safety features. It started becoming more and more common after the pandemic. I wouldn't mind dealing more with QR codes when using my bank's services, but the fact is people need to be careful. Especially elderly people.

[btc78]

From what I know, this practice is quite common in half of Asia

It is. QR codes have been such a huge part of society in my country now. In most stores, the cashier offers payment methods through qr codes. There are apps in which you can store your money into but is not necessarily a bank. However there are also apps for banks where you can generate qr codes or scan one. Even in ATMs, they have indtalled face recognition and thumb print to withdraw. It’s all convenient but a little bit more risky.

[boyptc]

It should be just an option. Because not all users are convenient with that type of accessing your bank accounts through a qr code.

It's still best to have the traditional method so that those users that are not techie will have their options as well. The banks are surely considering all the options on how someone can access their accounts easily but with added layer of protection and security.

And that is because most of the hacks are happening in the financial sector through the banks.

[peter0425]

This has been in the system of some banks here in our country for years and indeed with this feature I only need to protect one that multiple things , I mean I only need to keep safe my Mobile than needed ATM cards and cash because I am now living cashless because there are so many options here to use mobile than paying cash.
so this is really convenient and a big help for all users.

[kotajikikox]

Like you , this is my first time also using QR code in banking transaction(maybe because I am not use in banking these days as I focused in crypto everywhere in terms of investing my money)
this is the reason also why I did not  noticed that my bank is accepting QR code now so yeah this is an amazing innovation in banking world now.

[Volimack]

Nowadays QR code has become very familiar to us due to mobile banking. Since it is possible to input personal information or password in a QR code. So instead of manually inputting passwords anywhere, many people use QR codes. Which is safe and fast at the same time. This code is used for security in the banking sector crypto does not require any of these.

[bitterguy28]

Nowadays QR code has become very familiar to us due to mobile banking. Since it is possible to input personal information or password in a QR code. So instead of manually inputting passwords anywhere, many people use QR codes. Which is safe and fast at the same time. This code is used for security in the banking sector crypto does not require any of these.

Yeah and even everything in supermarket is not qr code using so that is what we can generate this easily and without even needed for teller to entertain us , for OP maybe in their community is that QR in banking is just recently adopted  so congratulations to OP for having this innovative way of banking .