From a recent email about “changes to your terms and conditions”. (“Secure Key” is their dedicated keyfob 2-factor solution; it’s currently required both to log in and to pay a new payee. It’s rather well done.)
These changes will also enable us to introduce some enhancements to our service over the coming months. You’ll still have access to the full Internet Banking service by logging on with your Secure Key, but in addition, you’ll also be able log in to a limited service when you don’t use your Secure Key – you’ll simply need to verify your identity by providing other security information we request. We’ll contact you again to let you know when this new feature becomes available to you.
Full details of all the changes can be found below which you should read carefully. If you choose not to accept the changes, you have the right to ask us to stop providing you with the [Personal Internet Banking] service, before they come into effect. If we don’t hear from you, we’ll assume that you accept the changes.
Translation: we are lowering the security we use to protect your account information from unauthorised viewing and, as long as you still want to be able to access your account online at all, there’s absolutely nothing you can do about it.