Compared to your phone, email or physical address, adding this for CC details definitely doesn’t make as much sense. To answer your questions and to be honest with you, I don’t know, but that’s kind of the point – we don’t (yet) spend all day researching the elaborate schemes people use for fraud. I’d rather err on the side of caution, especially if the inconvenience is small.*
The best I’ve come up with is someone gets your phone, updates the account with stolen card details, tops up £100 a couple of times and spends it on anything. Isn’t that far-fetched? Hopefully, but every hack is a fairytale until you lose someone’s money and have to write an apologetic post-mortem.
It was only recently a network was caught storing customers’ passwords in plaintext, so the more we can show people – especially new customers – that we’re serious and don’t screw around, the better.
*Assuming you’ve got fingerprint/Touch/Face ID, it’ll maybe add a second to the process.
Thank you both Excuse the delayed response – family time & a bike ride.
We’re only just getting started, and I can’t wait for the journey we’ve got ahead; it means a lot that you’ve taken a chance with us.