Citibank OTP auto opt in from April 21

[Chicken]

No other internet banking site I use requires me to input a different password if I want to view my transaction history!

The following banks all use one time generated unique password:
Suncorp Metway
HSBC
Citibank
RaboBank and RaboDirect
Bank of Queensland

Rabo and HSBC require the one time password to log in (HSBC removed this for log in, but require it for many other things, I don't use it often), so same as Citibank.

The fact that Citibank has this on your phone, meaning you don't need to carry a physical generator like all the banks above, is already way ahead.

 

[jingles]

The fact that Citibank has this on your phone, meaning you don't need to carry a physical generator like all the banks above, is already way ahead.

I used to think that until I had different accounts than needed SMS OTP and accounts that needed a Token OTP (HSBC).

After having my phone stolen while overseas the token OTP is my preferred way as it is much less likely to be stolen and always works regardless of phone service/battery etc.

I quite like the way HSBC have implemented their OTP in that you can log in and transact without using the OTP which is really only required to send money to a new account, modify personal details etc (I think this is pretty similar to the way CBA uses their SMS OTP)

To add to your list CBA also uses OTP. By default is it SMS based however any customer can request a physical token (But I dont think it is widely advertised or known by branch staff)

SMS OTP also has the risk of 'number porting' scams.
People have lost large sums of money through such scams, see Phone porting used to unlock net banking codes - Security - Technology - News - iTnews.com.au

 

[Cruiser Elite]

Indeed OTP doesn't work with iOS 7.0 - that'd be a be a pain in the klakker if I was o/s now - will be interesting to see just how long it takes Citi to catch up - like Apple just sprung this new operating system on everybody didn't they?

 

[DeKa]

Indeed OTP doesn't work with iOS 7.0 - that'd be a be a pain in the klakker if I was o/s now - will be interesting to see just how long it takes Citi to catch up - like Apple just sprung this new operating system on everybody didn't they?

Citi had plenty of time to sort this. The beta iOS 7 has been out since Apple WWDC on 10 June.

 

[cove]

My OTP has worked great on our IPhone 5s. I had been very doubtful before the changeover but it has been all sweet for us.

 

[Cruiser Elite]

My OTP has worked great on our IPhone 5s. I had been very doubtful before the changeover but it has been all sweet for us.

YES IMHO OTP best thing since sliced bread BUT it is incompatible with new iOS 7.0 - Citi did advise this a week or so ago but they have had ample time to get their ducks in order - typical Citi.

So cove if you update to iOS 7.0 you can now only receive OTP vis sms.

 

[cove]

Having stripped ATO out of our two accounts and having increased Mrscove's credit limit I have to refill these accounts less often during a month so it is all good for us.

 

[psylink]

I wish there was a way to only require OTP when attempting a transaction of some kind, rather than simply retrieving a list of recent transactions. Having to generate and input an OTP daily so I can access my budgeting in pocketbook is a pain in the...

 

[aerotravel]

The OTP is OTT IMHO.

Who needs OTP to wiew your transaction history?
Who needs account number be masked with xx_xx_X1234? Bit too much!

OTP should remain for:
1. Change personal/contact details
2. Change PIN/Passwords
3. Change contact preferences
4. Initiate transfers and BPay

Also, keep the statements in the portal. I don't need emails and then having to put password on it. Can't bloody turn it off!!!

Don't need for everything!

 

[eastwest101]

What I want to know is why someone hasn't written a Bot or script to login to an existing account and request a statement thus generating a OTP sms message and then loop back into an infinite loop?

I assume after about a million OTP requests the user account would be locked out or blocked otherwise Citi would get an massive bill for a bazillion sms OTP messages?

 

[PLANT]

Overseas or interstate time zone you need the extra gadget....I'm told even that FAILS.
I have now the extra gadget thing and will let you know if it works......

 

[DeKa]

Overseas or interstate time zone you need the extra gadget....I'm told even that FAILS.
I have now the extra gadget thing and will let you know if it works......

Why are you manually changing the time on your device? Set it to auto, and everything just works.

 

[Ghostdunks]

Overseas or interstate time zone you need the extra gadget....I'm told even that FAILS.
I have now the extra gadget thing and will let you know if it works......

I recently went travelling to about 5 different countries in asia last month(timezones kept changing as I went back and forth) and never had a problem with using the citibank app and OTP generator on my iphone.

 

[erkpod]

Does the Citibank app work with Virgin Money?

 

[DeKa]

Does the Citibank app work with Virgin Money?

Unfortunately not.