Nedbank will be enforcing the obligatory One-Time Password (OTP) security measure to Nedbank Internet Banking.
The One-Time Password (OTP) is the security feature that is available for internet banking. As your security is important to Nedbank, the One-Time Password provides an extra level of safety when you transact online as it protects your account against fraud.
How does the new One-Time Password work?
When you undertake certain actions using Nedbank Internet Banking, a pop-up screen will appear asking you to input a One-Time Password (OTP). An SMS will then immediately be sent to your mobile phone that includes a six-digit password. It is therefore important that you have your mobile phone with you when using Nedbank Internet Banking.
You then simply enter the six-digit password that you have received via SMS into the box on the screen and the transaction will go through as normal. The entire process takes about one minute.
Because you can only complete certain actions by entering the One-Time Password, it provides additional peace of mind that you are the only person transacting on your account.
Correct Contact Details
Please contact your Relationship Manager or Nedbank Branch directly and confirm that your current mobile number and email address match those on the Nedbank Client Contact Register. If Nedbank doesn’t have your correct mobile number, you will not be able to transact online.