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Internet banking functionality > One-time password
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What is a one-time password (OTP)?
It is a unique and time-sensitive password used as added security on Internet banking. The password does not replace the password you use to log on to Internet banking but provides a second layer of security. The password will be sent to you by SMS and is valid for one Internet banking session only.
Which functions require me to use an OTP?
- Adding beneficiaries
- Amending beneficiaries
- Resetting your password
- Amending your mobile phone number
How does it work?
Once you have registered for the service, a password will be sent to your mobile phone whenever you perform functions that require an OTP. The system will prompt you to enter your password after which you will be able to continue with your banking.
How much does it cost?
There is no cost for the service.
Do I need a different OTP for multiple transactions?
No, a single one-time password can be used to perform multiple activities in one Internet banking session.
Can I use the same OTP once I have logged off?
No, it is only valid for one Internet banking session. Once you have used your OTP for an Internet banking session, you cannot use it again.
Can the original password be resent to me?
No, whenever you perform a transaction requiring an OTP, a new password will be sent to you.
How long is the password valid for?
It is valid for:
- One Internet banking session only.
- Fifteen minutes from the time you receive it.
How will you send my OTP to me?
Your OTP will be sent to you by SMS.
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