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You mean like the cahoot webcard? It's an annoying flash page I'm afraid, but basically it generates a new number for each transaction you make, making fraud virtually impossible. (It's a UK bank, BTW)

"My" online bank http://www.cahoot.com/ (which is the online arm of the abbey national) has had this type of authentication for ages. everytime I login, I am asked different questions, each login is different and has worked exteremly well. Of course if you are phished you can still be tricked into giving away to the answers to the questions you gave and used during the signup process. Instead of providing your complete password, you give certain characters from the password, for example the 2nd and 6th characters, selected from a drop down box, so keyloggers are effectively rendered useless.

There are always going to be people who are too careless with their information, and there will always be other people who are very willing to take all of your personal information to clean out your bank accounts..

During the checkout phase, you get a code. You log on to your bank/credit card/whatever account, paste that code into a field to authorize the funds, and get an order confirmation from the place where you bought your stuff.

You are describing the reverse of this !

We have this in a few uk banks, certainly the one I use called Cahoot webcard which is an online tool, you login into your online banking account, and request a card valid for 1 month with the amount you specify. Ive never had a problem with this and its perfect for online sales and even telephone credit card orders as they cant screw your account over and over for more money.

Cahoot Online bank also provide a similar service, in this case they call it the webcard. You can generate a credit card with a restricted credit limit, which is then valid for up to 2 months. I use this for each online transaction and have started doing it for telephone transactions too.

I had thought up until now that Cahoot was alone in this field, but it looks like other banks may well be catching onto the idea that their customers do not actually want to be scammed by companies abusing their CC information.

Cahoot accounts might only be available to UK residents but i'm not 100% sure.

CD-Wow for your CDs.
Ebuyer for your computer kit.
Holborn Books for your computer books.
Click Ink for your generic ink cartridges.
Cahoot for your banking.
Ebay. No explanation needed!
Netto to check out what deals they've got on. Shortcut to Netto's offers.