15 Jun
2010
15 Jun
'10
5:37 a.m.
On Tuesday 15 June 2010 10:45:02 Saswata Banerjee & Associates wrote:
Many banks follow this practice. Its called 2-token authentication. It ensures that if someone has seen your password, he cant still get in unless he has flicked your phone too. (in which case, he deserves to get your money, me thinks). But once the password is sent to your phone, its valid for 4 hours or 1st use whichever earlier. With both kotak and Standard Chartered (and earlier with yes bank), the sms generally came in 2-5 min.
in axis bank it is only valid for the current session.
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Regards
Kenneth Gonsalves
Senior Associate
NRC-FOSS at AU-KBC