I am looking for something that gives ME (the owner of the account/money) a number of solutions. I need the following:
- * Options to securely manage my underlying account over the internet. I can understand why some options aren't default, but my bank doesn't seem to even know that problems exist. I would like to protect my connections with overbuilt encryption. Or choose to require refused connections unless it is the latest, strongest encryption. Or reject weak ciphers and key sizes. Or require multi-factor authentication. Or require a range of source IP addresses. Or require a single, secure, pre-distributed OS (distributed on a cheap, reliable USB stick.). Currently, they don't allow me to require any of these.
- * I want my bank to enable single, on-time, cheap, secure, online transactions. It is crazy that my bank continues to pretend that it is not connected to the internet. Or that online commerce can only exist by using ancient, insecure, expensive, slow 19th century methods. Online purchasing should be more (not less) secure than "chip and pin", because we have much greater capability to confirm the identity of the participants and the nature of the transaction. It can also be much quicker and cheaper. Having Apple, Google, or Paypal add another non-transparent layer between me, my bank, my vendor and his bank just seems insane.
- * I want my bank to enable ongoing, cheap, secure, ongoing static payments to pay bills. Currently, I don't allow automatic payments of my bills because Comcast (and others) think they should be able to spontaneously increase their charges. I want to set up a "Only this much, this often, to this entity" payment. Then, if somebody want's to charge more, we re-negotiate with full knowledge of the change.
- * Chip and Pin seems to be an acceptable compromise for the current transition to payment via trusted device. I need to figure out what device method I can trust. So far, no help from my bank on that front either.
Is Paypal capable and trusted enough to be used as a bank?