The bank does not 'remember' the login password, what should the user do?

Article 8, Circular 50/2024/TT-NHNN with many regulations on safety and security for providing online services in the banking industry will take effect from January 1, 2025.

In particular, Clause 2, Article 8 stipulates: "Do not allow the function of remembering the secret access code". This regulation makes many people worried.

Mr. Le Hoang Minh (Vinh Tuy district, Hanoi) said: "I am used to the bank remembering my password every time I log in, so I have not cared about remembering it for a long time. This is very suitable for busy people like me. But when I learned that the banking application will no longer have the function of remembering login passwords, I was worried that if I am not used to it and accidentally forget the password, I may have difficulty when I need to make urgent transactions. Even more dangerous is that the account may be temporarily locked if I enter the wrong password many times."

Similarly, Ms. Huong (Dong Da district, Hanoi) also said that the bank's ability to remember her login password has helped her make online transactions quickly and easily. When she learned about the new regulation, Ms. Huong was struggling to find a way to write down her bank password while still ensuring safety. "Setting a password with easy-to-remember numbers is easy to detect. Setting a complicated password is difficult to remember. I also don't know how to do it to have the best of both worlds. I think I should write it down so that if I forget it, I can still look it up," Ms. Huong said.

According to the banking industry's recommendations, after the new regulations take effect from January 1, 2025, account holders need to prepare a number of measures to adapt and ensure safety and security for their online transactions, including:

Backup secret key:Users should back up their secret access keys in a safe place. For example, you can write down the keys in a secure notebook or use a reputable password management application. This will make it easy to access when needed without having to worry about forgetting the key.

Update bank contact information:Make sure your contact information with the bank (email, phone number) is up to date and accurate. This will help the bank contact you promptly if it needs to confirm your identity or provide support if you have problems with your secret key.

Using biometrics:Logging in through biometric security such as fingerprints and faces is one of the good alternative login methods, these methods are applying more advanced, safe and convenient technologies. Besides logging into applications, biometric technology is also used for money transfer transactions and identifying the owner's account.

Use other additional authentication methods:Many banks offer additional authentication methods such as OTP (One-Time Password) and two-factor authentication (2FA) for added security. Enable and use these features to stay safe when making online transactions.

In addition, users should change their banking habits with the following suggestions:

Check your account regularly:Take the time to check your bank account regularly to spot any unusual activity early. This will help you react quickly and contact your bank if you spot signs of fraud.

Conduct transactions at home:Try to conduct financial transactions at home or in a safe place, avoid using public Wifi networks to reduce the risk of cyber attacks.

Contact the bank immediately:If you have difficulty using online banking services or forget your password, please contact the bank immediately for timely support.