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For quite a long time my bank used cargo culted 2FA i.e. 2x things that you know. Pretty embarrassing really. Thankfully they now have a card reader device but it's only used for certain actions (like adding new payees).



In the EU? That definitely wouldn't be compliant, unless we're talking about 90s or something.


I didn't have internet banking in the 90s but it's probably been 10 years or so since they sent out the card readers.

Found some random blog which suggests it was circa 2007. http://www.craigmurphy.com/blog/?p=634




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