There isn't a great deal to smile about with the security setup for Co-op's online-only bank. Login requires you to enter your sort code and account number - two details that are easily lifted from your bank card. You also have to provide the answer to one of several "personal questions", such as the name of the schools you attended, and your mother's maiden name - all easy fodder for ID thieves on social-networking sites.
The only salvation is the entry of two random digits from a four-digit security code, instead of a password. This is done with drop-down boxes, rather than the keyboard, to help avoid the gaze of malicious keyloggers. Nevertheless, we'd like to see more than one in four of Smile's login fields offer a degree of security. At least Smile offers to repay any money lost through computer crime that wasn't stopped by its security systems, so there is a safety net should anything go wrong.
Once logged in, the service has few bells and whistles, but all of the important features are present and are simple to use. This is important because Smile is an internet-only bank, so there are no branches to sort out unexpected problems. Telephone support is provided, though, and we've always been satisfied with the results.
Multiple accounts can be managed from one screen and most services are available within a few clicks - new accounts can be opened with a simple wizard, and new cards ordered with the press of a button.
Statements are also clear and easy to read, but unfortunately can't be exported for use in any of the popular financial software packages. Statements can't even be converted into humble CSV files, leaving print-outs as the only viable archiving option.
The site is lightweight and always responsive, with pages loading quickly and reliably- which is reassuring when you're sending money transfers or changing direct debits.
But Smile's efficiency can't mask the fact that its service is among the most basic here. Best avoided unless speed is your prime concern.
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