SMS One Time Passwords: An even safer online banking experience

SMS One Time Passwords: An even safer online banking experience
SMS One Time Passwords:
An even safer online banking experience
As part of our ongoing commitment to the security of our member's funds, we have implemented SMS One Time
Passwords, an easy-to-use service available to all Internet and Mobile Banking users.
1. What is SMS One Time Passwords?
SMS One time password is a free and easy service that uses your mobile phone to provide an extra level of
It’s a quick and easy process to further protect member’s funds when transacting over the internet.
2. When would I use it?
SMS Passwords are used when requesting the following Internet Banking activities:
• Transfers to non personal payees, including:
o Another Credit Union membership
o Other financial institutions
o BPay payments
• Registration of personal payees
• Changing your personal details
3. How does it work?
Once you’ve logged into Internet Banking and registered for SMS One Time Passwords and you are
conducting a funds transfer that requires SMS validation, you will see a mobile phone graphic appear on
Select the button Get SMS to automatically request and receive an SMS with a randomly generated 6 digit
authorisation code to your registered mobile phone. This code will be completely unique to this internet
banking session and only remains active for the duration of the current session.
Next step is to key in your authorisation code in the box provided; you can then press “OK” to continue to
process the transaction or request. If you close your Internet browser (e.g. Internet Explorer) window and/or
open a new session you will need to request another code.
4. Does it cost anything?
No there is no fee for this service
5. How do I register for SMS One Time Passwords?
Detailed instructions and screen copies appear at the end of this document.
A summary of the registration process is as follows:
Step 1 Login into internet banking in the usual manner.
Step 2 Select the My Preferences option
Step 3 Select Security Option
Step 4 Click Request
Step 6 Verify mobile phone number to be contacted with the One Time Password
Step 7 Select I agree to the terms and conditions. Note if you do not agree you will not be able to continue
to register
Step 8 Click Request
Step 9 On the confirmation page, check details, if all fields are correct click OK.
If you wish to go back to confirm that you are registered follow steps 2 & 3 above.
Please note you must have access to the phone number you register when performing Internet Banking
6. Why has SMS One Time Passwords been introduced?
SMS One Time Passwords means that even if your member number and internet banking password fall into
the wrong hands, your money cannot be transferred to a non personal payee without your approval. You
can use Internet Banking with greater peace of mind.
7. How does SMS One Time Passwords increase my protection?
If a fraudster manages to obtain your member number and password they may be able to transfer funds
from your accounts. With SMS One Time Passwords the fraudster cannot transfer money to non personal
payees because they don’t have your phone to receive the secure SMS code.
8. Are there any charges for receiving an SMS?
The Credit Union does not charge members for receiving a secure password by SMS. You should check
whether your mobile network provider charges for receiving SMS message. This maybe important when
travelling overseas.
9. Is SMS One Time Passwords compulsory?
We recommend that all members use this service. However, for those members who have a daily limit
greater than $5,000 it is compulsory.
10. I do a lot of travelling, or can’t get mobile coverage – how can I use SMS?
The majority of your payments are to payees on your Personal Payee list. You can pay these without SMS
One Time Passwords. You can also call us for assistance.
11. Can I make payments using SMS while overseas?
Yes you can. You can receive SMS One Time Passwords while overseas if your mobile phone and SIM card
allow global roaming, and the country you are in provides a compatible network. Please check with your
mobile service provider.
12. I do not have a mobile phone or live in a mobile service area. Can I still be protected with SMS One Time
Yes you can still be protected if your landline can receive SMS.
13. I am registered for SMS One Time Passwords but I don’t have my mobile phone on me or I can’t receive
the SMS message. What can I do?
Call us for assistance.
14. What do I do if I lose my mobile phone?
Call us for assistance.
We will disable SMS One Time Passwords until you have access to your phone.
Your daily transfer limit will also be reduced to standard limits limit until SMS One Time Passwords is reinstated.
15. Can I change the mobile phone number that I have registered for receiving SMS messages?
If you still have access to the old number you can select a new number.
Step 1 Login into internet banking in the usual manner.
Step 2 Select the My Preferences option
Step 3 Client Maintenance
Step 4 You will need to request an SMS which will be sent to your old number
If you do not have access to your old number, contact us and we will assist you to change the number.
16. I have just received a SMS One Time Password but I am not using Internet Banking. What should I do?
It may be that someone else is attempting to transfer funds from your account.
You should immediately contact us for assistance.
17. How long does a SMS code last?
The code is only valid for the current transaction. It must be used within 5 minutes.
You should delete the code after use to avoid any confusion.
18. Will I need to request a SMS code for each transaction?
No. You will only ever need to use SMS One Time Passwords once in each internet banking session.
19. I have made several transactions since entering an SMS One Time Password, however I’m not being
prompted to request a SMS code for subsequent transactions. Am I protected?
Yes. Our SMS One Time Passwords service will recognise that once you have completed a payment or
transfer, you will not be required to authenticate additional payments during the same login session.
20. Can I switch off SMS One Time Passwords?
Yes you can, you need to contact us for assistance.
However please note if you have a limit higher than our standard limit it will be reduced to $5,000.
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