Apparently. Or cover for just being a bit crap?

Their security is a right pain to use as a valid user. Seems it doesn’t slow down the wrong doers.

I’m surprised anyone could tell.
Actually, that’s possibly a bit harsh, I’ve never banked with them so I honestly don’t know.
However, the scam emails I get on a regular basis always purport to be from HSBC, Santender, Barclays or BT, which sort of tells me something.