[BLKNSLVR]

I've kinda migrated to the worst-case scenario already and it's really not that bad - for my use case.

I have an old phone (actually running LineageOS rather than stock) that works as you perfectly describe as a glorified digital token. This device doesn't come with me. There's no banking I need to do, on a day-to-day basis, requiring said token, that has to be done right now or the world will end. It can wait until I get home (and I usually use the bank's web interface from a desktop). This device has minimal other apps installed, which limits bank app accessibility of other app data, and other app accessibility of bank data.

Then my GrapheneOS daily driver serves my day-to-day needs with minimal data leakage, tracking, ads, other general paranoia-inducing modern-life shit.

I pay for things on a day-to-day basis with a physical debit card due to an existing habit of not wanting to depending on a single device for "all the things", so GrapeheneOS wasn't a downgrade, but it should be noted to others that whilst Google Wallet can run on GrapheneOS, NFC payments through the Google Wallet will not work due to Full SafetyNet requirements that GrapheneOS can not pass. Non-NFC items such as tickets and boarding passes have been reported to work (and I'm pretty sure I've used it for that, although Google Wallet is no longer installed on my device).

[aidenn0]

I see a trend of banks pushing people off of their websites onto the mobile app.

[BLKNSLVR]

That is a slight concern, but I don't see it happening, at least in Australia for the big four banks, in the near future.

If that became the case, then the 'glorified token device' would become the dedicated banking device, and not much else would change (ie. I still wouldn't be doing 'banking' while I'm out and about).

[glitchc]

It sounds utopian except you still have to pay for a cell plan on said device, no? How else to obtain a phone number for MFA?

[BLKNSLVR]

No, just connected via wifi. I don't use it outside the house. The MFA token comes via the banking app itself, not via SMS.

If it came by SMS my daily driver would receive it.

[efreak]

You already have a cell plan. It doesn't have to be attached to the same device.

[NetMageSCW]

Hopefully by not using MFA that depends on SMS.

[NoGravitas]

Unfortunately there are non-SMS MFA that are still tied to a phone number, and you may be forced into using them for some context. Duo Mobile is one.

[NetMageSCW]

To me that sounds like sacrificing living for a principle and missing the point.

[BLKNSLVR]

I hadn't migrated my life to any of the (tiny, possibly zero) convenience improvements that "mobile banking" may offer me, so none of what I've described has been any kind of downgrade in 'living'.

(I don't mean this in a sarcastic way) are you able to make tangible what 'living' I may be sacrificing?