CSO online has posted some detail on the state of online banking and two-factor authentication in America:

More than 90 percent of the participants in several focus groups said they didn’t want to use a token to access accounts online or by phone.

“The response we got was, ‘Don’t tell me I have to carry something to get access to my money. It’s your job to protect my money, and if you don’t do your job I’ll find someone who will,'” says Cullinane, who is CISO of Washington Mutual, the nation’s largest savings bank. “It was rather startling to get that from them.”

I’ll say. They already carry a credit card that gives them “access” to their money, so perhaps Cullinane is not accurately processing the feedback. In fact, many people apparently refused to carry credit cards in their early days so perhaps what is needed is a phased approach. If WaMu gave me the option to use a token to access my accounts, I would not only adopt it, I would try to switch my family and friends to their services.