Customer security checks

Different banks use different systems or authentication devices to prove that you are the genuine customer. Some may issue you with a key-fob device that produces a one-time passcode.

Others may provide you with a pocket-sized card reading device that you insert your debit card into, which also produces a one-time passcode. This passcode can then be used as one of the security steps needed to login to your online banking website or to authorise a payment.

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 Two Factor Authentication (2FA)

Two-factor authentication is a form of authentication that includes ‘something that you have’ and ‘something that you know’. Some banks use two-factor authentication devices to provide a higher level of online banking security. Hand-held devices with keypads and key-fobs are both types of two-factor authentication. These devices are used by some banks as a secure way for customers to identify themselves as being a genuine customer, and not a fraudster. This is because they use ‘two factors’ that are personal to each individual online bank account holder:

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Should I have one?

Not all banks offer these types of authentication devices. This does not mean that their online banking product is any less secure than those that do. All banks employ a myriad of security procedures hidden behind the scenes to keep their customers safe.