Security Hardware for Fidelity, Schwab and Vanguard accounts

[Chuckanut]

Below is an article on the security hardware that can be used to secure your accounts with Fidelity, Schwab and Vanguard

https://thefinancebuff.com/security-hardware-fidelity-schwab-vanguard.html

I wish all three used the same method and thus simplify the number of security apps and hardware a person can have, but they don't.

Most financial institutions have some type of two-factor authentication (2FA) now when you log into your account. You need something besides your username and password to access your account.


Using 2FA is better than not using it, but different forms of 2FA aren’t created equal. When you have a choice, use a stronger form of 2FA.

 

[braumeister]

I have the Symantec VIP app on my phone, and have used it for years, with never a problem.
I use it at Fidelity, Schwab, Amazon, and four other places.

When I get a new phone, some of them let me register it online, while others make me do it with a phone call.
New phones don't come often, so I haven't considered getting a hardware key -- just something else to carry around.

 

[ShokWaveRider]

I use the Keyring Hardware VIP Device. Prefer it to an app. Does the same thing. I do not carry it everywhere though.

 

[Sunset]

Does anyone know, does Fidelity revert to the phone call if you lose your Symantec device ?

I'm wondering if a scammer could just claim they lost it, to go to a less secure 2FA ?

 

[braumeister]

Does anyone know, does Fidelity revert to the phone call if you lose your Symantec device ?

I'm wondering if a scammer could just claim they lost it, to go to a less secure 2FA ?

If you have voice ID set up with FIDO, I think you could simply call in and let them know you need to get a new one, but a scammer wouldn't be able to pass their voice ID test. I consider this a very good security feature. Schwab has the same thing.

 

[Al18]

Thanks for the info. I didn’t realize you can buy a Symantec hardware token for only $12.50 and it works independently of your phone for 2FA

 

[Sunset]

I can barely get voice recognition things to work, so I have severe doubts about how secure voice ID really is.
In fact the past week I've called a bank that used voice ID, and it asks me to say my phone number, then tells me it heard some other totally wrong number

It would have to be targeted, but seems like a scammer could use a recording to imitate a person, or the scammer just says they have a cold/sore throat and are on a cell phone with lousy service

 

[braumeister]

I've called a bank that used voice ID, and it asks me to say my phone number, then tells me it heard some other totally wrong number

I've run into something like that in the past. I tend to say "zero" and the system is programmed only to hear "oh".

Also, there are a variety of possibilities. Schwab wants you to use their very specific sentence, while FIDO wants you to simply talk for a while. I've used both systems successfully, with no problems.

 

[Cobra9777]

I use the VIP Access app with Fidelity, Amazon, and a few others. Last time I changed phones, I called Fidelity with the new credential ID. They voice-verified me and entered the new credentials. No other questions asked, which I remember thinking was a bit lax.

The voice verification system at Fidelity is really just a convenience for customers and a time-saver for phone reps. It's not an extra layer of security.

They claim the system can verify you even if you sound different due to a cold, allergies, etc. And it does. I called in a couple weeks ago with a severe case of laryngitis and still passed the voice test.

But here's the key point... per their FAQ, if you fail for any reason, they don't hang up. They just revert to traditional security questions. So the voice test is not an additional barrier for a scammer who knows enough to answer security questions.

 

[ShokWaveRider]

Schwab give customers a VIP Hardware Key Fob free.

 

[Sunset]

Schwab give customers a VIP Hardware Key Fob free.

Thanks.
Looks like I need to call them.....

 

[TripleLindy]

Vanguard has a security feature that will only allow a specific device (laptop, phone, computer, etc.) to access your account. We have our account locked down to my iPad, which rarely leaves the house. That’s in addition to 2FA, but we just use the typical text 2FA.

 

[Spock]

I can barely get voice recognition things to work, so I have severe doubts about how secure voice ID really is.
In fact the past week I've called a bank that used voice ID, and it asks me to say my phone number, then tells me it heard some other totally wrong number

It would have to be targeted, but seems like a scammer could use a recording to imitate a person, or the scammer just says they have a cold/sore throat and are on a cell phone with lousy service

Cue the commercial of the customer repeatedly screaming "REPRESENTATIVE" into their phone... or the new one of a person with a smarthome/lock trying to open their front door after going to the dentist.

I understand the difference between voice id and speech recognition, but given Fidelity's constant problems with speech recognition I'm not about to attempt voice ID over a cell phone. Without a keyphrase it could be circumvented by playing back a voicemail message.

 

[EastWest Gal]

Schwab gave me a SymanticVIP token a few years ago. I had a token that used to use for logging into the work computer from home years ago. I think I'm due for a new token this year. I didn't know that I can use it for other accounts as well. Thanks for sharing this information.

Also, I set up a Google Voice account for my flute ensemble so I could put a phone number on business cards. Unfortunately, they deactivated it due to lack of use. So if you use Google Voice for 2FA, be sure to use it!

 

[badatmath]

If you have voice ID set up with FIDO, I think you could simply call in and let them know you need to get a new one, but a scammer wouldn't be able to pass their voice ID test. I consider this a very good security feature. Schwab has the same thing.

I hate voice id. I can't pass the one at my w*rk!