bola4dprec:
the platform is very secure and safe #1 to initiate any transaction on your account you need to register your phone number with GTBank meaning that unregistered GSM number will not be able to transact
#2 all transaction made on the platform have reference that is the beauty of BVN if hoodlums hijacks your phone nd ATM any account that receives money will be track with BVN let me stop here

Firstly, does it mean as a customer, I'm automatically enabled, without my consent to perform this transaction on my registered line?

Secondly, you should understand that at the first phase of BVN, the target is to ensure customers are enrolled for BVN, and these numbers are not yet mapped to accounts owned by customers. This would come during second phase BVN.

In conclusion, the bank faces risk of provision for funds lost due to fraudsters in this process since I didn't subscribe to it. And, for now, BVN can not show accounts linked to it.

So this process is still porous.

whosoever you transfer to can be traced.... remember, kidnappers take cash not cash transfer.

That's why everyone is asked to do the BVN registration.
With that in place, no criminal or fraudster would be stupid enough to transfer your money to 'HIS ACCOUNT'.

S/He would be traced easily. Lil wonder all these yahoo boys don't want to register.

Maybe you should just stop using it for now.

what's up with GT bank and front Page these days na.... almost any post on GT gets to front Page.

bola4dprec:
the platform is very secure and safe #1 to initiate any transaction on your account you need to register your phone number with GTBank meaning that unregistered GSM number will not be able to transact
#2 all transaction made on the platform have reference that is the beauty of BVN if hoodlums hijacks your phone nd ATM any account that receives money will be track with BVN let me stop here

Chief, you should know that Nigerians are very smart people. One can steal you mobile phone and atm card, transfer the money to someone else's account and have them withdraw it for them...

Secured, but HIGHLY unreliable. if you want to do anything that falls withing the realm of emergency, disregard this service.

is this transfer limited to those five banks, now that I need to transfer to an enterprise bank account, what do I do

pocohantas:
That's why everyone is asked to do the BVN registration.
With that in place, no criminal or fraudster would be stupid enough to transfer your money to 'HIS ACCOUNT'.

S/He would be traced easily. Lil wonder all these yahoo boys don't want to register.

Maybe you should just stop using it for now.

I do not know why people think that BVN is even that secure and will somehow prevent thieves. Necessity is the mother of invention, they will simply re-innovate and continue what they have been doing.

Yes, BVN not withstanding, the GTB phone transfer are is very risky.

This will just allow thieves to milk more victims....take a case, where someone is held against their will and their ATM card taken and forced to divulge their PIN...and the thieves holds them until they bleed their account to red....If the account is red, all the thief need not hold another victim against their will...target GTB account holders, snatch their phone and ATM card, transfer money to your previous victim's account and continue milking the funds out of that account.

Now, before this GTB none-sense, they would have released their victim after their account reached red....but with this, they can hold out hopes for additional exploits without leaving a trace, BVN or no BVN.

And the BVN thing, gives people a false sense of security, people can disfigure their fingerprint, google 'change my fingerprint' you will be surprise that, you can order a kit for that, then disguise do a facelift, approach any bank, do your registration and BVN with your new identity....approach multiple banks with different identities and fingerprints and open multiple accounts and the yahoo yahoo guys are back in business as usual.

sledjama:
GTBank has seriously dropped security wise, if not, how will a bank give Telcos direct access to our bank accounts in the shade of *737*whatever#
why not add token generation to the mix or did we not pay N3000 naira for that very token security.

first off, glo has been using this golden opportunity to debit user's bank account without you making the request.
or when you make 2 requests, they bill you then deliver credit once.

If they had added the token generation to it, Glo would not have been able to debit our account unjustly as glo will need a valid token to be able to complete transactions.

I just pity those old pensioners who's primary source of livelihood will be equally shared by their housemaids via *737* introduced by some dull GTBAnk's business development managers

now they are raising the bar and giving your account access to everyone with access to your phone and ATM
what a bank

Aba oga...How has gtb given glo your account and allowed them charge you twice. If you tried to buy recharge and the first one didn't go through. It is only wise not to try again as the link maybe overloaded. Mostly common with glo though and there is a 48 hour reversal on transactions.


As for security., Nigerians need to start regarding things with a bit more seriousness. Your atm card is not something you display to any dick and harry. I agree there should be a non written , third layer of security and I hope Gtb sorts it out soon.

Also, they should ask their bank customers for authorisation before adding them to any platform. It smacks of incompetence to generally add profiles of your customers to what they didn't sign up for.

It is mobile money! Shikena. And with BVN, it is very secure.

Banking through the sms platform. Yippee!!!

We are late to the party sef.

pingpong1:
I found a way round the security issue. I defaced the last 4 digits on my ATM card. The number is known only to me and serves as my security code. Yes the card still works on ATMs

This guy is so smart. I was about to say this when I saw his post.

As a matter of fact, GTB is extremely security conscious and so many people have been complaining of not being able to make transfers without having an internet banking token.

This service, 737 transfers, is the only way you can make a transfer from your account without a token, save mobile money, and it has a daily limit of 20k. I also think they should have used the PIN authentication option rather than the last four digits on card.

Either way, kudos to them for this invention.

boneruns:


Firstly, does it mean as a customer, I'm automatically enabled, without my consent to perform this transaction on my registered line?

Secondly, you should understand that at the first phase of BVN, the target is to ensure customers are enrolled for BVN, and these numbers are not yet mapped to accounts owned by customers. This would come during second phase BVN.

In conclusion, the bank faces risk of provision for funds lost due to fraudsters in this process since I didn't subscribe to it. And, for now, BVN can not show accounts linked to it.

So this process is still porous.

The BVN is already linked to the accounts immediately you register. The approach you mentioned may be possible for a few people who registered in banks other than where they have accounts, but the present deadline for all individual accounts to be linked to a BVN is June, 2015 after which such accounts may be blocked for BVN.

As for the porosity of this process, I agree that the PIN authentication should be adopted despite the 20k limit.

Prior to the secure code initiative for online card transactions, the only information required worldwide to do online transactions with a Mastercard or Visacard were the details that are written on the card, without a PIN, and this still applies to some sites that have not registered for secure code. What this implies is that your card is not something that should be kept carelessly.

It is not secure at all. I have a friend who works at Gtbank. Most of them have stopped carrying their atm cards around for fear of the unknown. Why then do we have pin, why then do we have token. The move may be smart but in terms of security it is flawed.
Gtb please dont compromise ease of access with security.

Hope GTB mgt get to see this and do something about it.

Davijunson:
what's up with GT bank and front Page these days na.... almost any post on GT gets to front Page.

Except you are operating from mars, u should see the value add of this. I guess you are the type that want to only read Kim kardashian and one lady displaying g her rump.

On topic, I am a freak for GTB and regularly transfer money. I have and use the mobile app but not sure I will be using g this 737 or whatever it is in a hurry until I am sure that all the loopholes are plugged. I am generally too busy to pursue refunds so I try to avoid this GS that may make that happen. Same reason I mostly do GTB ATMs so that any wronggful debit can be easily if not immediately reversed.

linearity:


I do not know why people think that BVN is even that secure and will somehow prevent thieves. Necessity is the mother of invention, they will simply re-innovate and continue what they have been doing.

Yes, BVN not withstanding, the GTB phone transfer are is very risky.

This will just allow thieves to milk more victims....take a case, where someone is held against their will and their ATM card taken and forced to divulge their PIN...and the thieves holds them until they bleed their account to red....If the account is red, all the thief need not hold another victim against their will...target GTB account holders, snatch their phone and ATM card, transfer money to your previous victim's account and continue milking the funds out of that account.

Now, before this GTB none-sense, they would have released their victim after their account reached red....but with this, they can hold out hopes for additional exploits without leaving a trace, BVN or no BVN.

And the BVN thing, gives people a false sense of security, people can disfigure their fingerprint, google 'change my fingerprint' you will be surprise that, you can order a kit for that, then disguise do a facelift, approach any bank, do your registration and BVN with your new identity....approach multiple banks with different identities and fingerprints and open multiple accounts and the yahoo yahoo guys are back in business as usual.

Bros you be......? I neither meant thief nor scammer. I wanted to ask, what do you do for a living, no vex.

Let's appreciate them for this wonderful innovation. I also concur to the idea of upgrading it with strict security

I thought of it actually, but is a better way of catching the hoodlums some will trace the account hope you know that banks are updating their security measures

tgirl4real been a while.
how have you been?
yes it is secure, you just gotta keep you pin i guess.
hope you are good?

GTB is on the line what most pple dnt knw is last 4 digit number is ur atm number even if u wnt to buy any goods online they wil only ask for ur last 4 digit after ur name nd ur adress

wonderfulman:
There is no problem with new app.even if you lose your phone and the atm card, the bank can still track where your money is transferred to.Therefore, do not panic.

Who will be liable if transfered fund has been withdrawn by the beneficiary of the other bank?

xdos:
I thot of same too when I saw d advert... Someone who has access to your atm card and mobile fone can transfer money without you knowing... If your purse containing your mobile fone and atm is stolen on Saturday, you cn lose upto 60k... or even more because the person will both recharge n transfer... I don't see the smartness there...
Pin request would be a lot better.

i noticed this transaction doesn't work from every Friday evening to Sunday night. I got refunded when i tried to use the service at that time.

mudolak:
GTB is on the line what most pple dnt knw is last 4 digit number is ur atm number even if u wnt to buy any goods online they wil only ask for ur last 4 digit after ur name nd ur adress

exactly! So, why are people now shouting?

The key thing here is for us to be security conscious. Don't be careless with your ATM cards so as to
avoid misplacing it thus leading to it falling to the wrong hands. In as much as this innovation makes
transfer of fund easier and effortless, i still think another security check should be added to the already
"Four digit pin" to consolidate the safety of it.

linearity:


I do not know why people think that BVN is even that secure and will somehow prevent thieves. Necessity is the mother of invention, they will simply re-innovate and continue what they have been doing.

Yes, BVN not withstanding, the GTB phone transfer are is very risky.

This will just allow thieves to milk more victims....take a case, where someone is held against their will and their ATM card taken and forced to divulge their PIN...and the thieves holds them until they bleed their account to red....If the account is red, all the thief need not hold another victim against their will...target GTB account holders, snatch their phone and ATM card, transfer money to your previous victim's account and continue milking the funds out of that account.

Now, before this GTB none-sense, they would have released their victim after their account reached red....but with this, they can hold out hopes for additional exploits without leaving a trace, BVN or no BVN.

And the BVN thing, gives people a false sense of security, people can disfigure their fingerprint, google 'change my fingerprint' you will be surprise that, you can order a kit for that, then disguise do a facelift, approach any bank, do your registration and BVN with your new identity....approach multiple banks with different identities and fingerprints and open multiple accounts and the yahoo yahoo guys are back in business as usual.

Ha!! Weyrey le leyi o!

xdos:
I thot of same too when I saw d advert... Someone who has access to your atm card and mobile fone can transfer money without you knowing... If your purse containing your mobile fone and atm is stolen on Saturday, you cn lose upto 60k... or even more because the person will both recharge n transfer... I don't see the smartness there...
Pin request would be a lot better.

have u considered loosing your wallet with your token too? whats important is to becareful. no technology benefit without limitations!

Is very secure, since it requires ur PIN. And if you lost ur bag you can report at any branch. Your account will be put on hold.
Is a way of making cashless policy work. If at all you do not subscribe to any internet. So far you have mobile phone and top up on it. You are good to go.

Hope it helps..

Tgirl4real:
I recently made use of GTB mobile transfer using the code #737#2 to transfer money to a First Bank account and the only security measure they had in place was to ask me to input the last 4-digits on my ATM card.

After a successful transaction, I wondered to myself if this platform is truly the "smartest" as they claim. Yea, it may be smart, but is it secure? What if I lose my bag containing my wallet (with my ATM cards) and mobile phones? Wouldn't the hoodlum be able to transfer money easily from my account to any account of his choice with no hassle before I can block the ATM?

This bothered me and I thought to share it here. I expect GTB to make this more secure by requesting for pin before money can be transferred.

What do you guys think?

It happend i missplaced my ATM card about a week ago, it happened in the evening so the banks were already closed. When i rememebered this easy code for transfer I had no chill at all..... All the person needs is just my ATM card and no permission from me and my money (at most 20k) will be gone. Its a good idea o, buh I think they should add like a transfer code sent by text to help curb unwanted transfers.

onegig:


Aba oga...How has gtb given glo your account and allowed them charge you twice. If you tried to buy recharge and the first one didn't go through. It is only wise not to try again as the link maybe overloaded. Mostly common with glo though and there is a 48 hour reversal on transactions.


As for security., Nigerians need to start regarding things with a bit more seriousness. Your atm card is not something you display to any dick and harry. I agree there should be a non written , third layer of security and I hope Gtb sorts it out soon.

Also, they should ask their bank customers for authorisation before adding them to any platform. It smacks of incompetence to generally add profiles of your customers to what they didn't sign up for.

you need to just let my comment pass because technically, it is way beyond your comprehension. ok, let me bail you out.

if you are able to send a visitor to your house to bring you money, and he brings it back successfully, it means your house is not secure.

when he comes back and says he couldnt access your house because he needs a valid key, then your house is secure

glo is the visitor here, no matter how high you rate glo. they should not have access to your bank accounts.

pickabeau1:


20k is 20 litres of fuel o

na 1k per litre?

Tgirl4real:
I recently made use of GTB mobile transfer using the code #737#2 to transfer money to a First Bank account and the only security measure they had in place was to ask me to input the last 4-digits on my ATM card.

After a successful transaction, I wondered to myself if this platform is truly the "smartest" as they claim. Yea, it may be smart, but is it secure? What if I lose my bag containing my wallet (with my ATM cards) and mobile phones? Wouldn't the hoodlum be able to transfer money easily from my account to any account of his choice with no hassle before I can block the ATM?

This bothered me and I thought to share it here. I expect GTB to make this more secure by requesting for pin before money can be transferred.

What do you guys think?

i reason along with you. it shouldn't be the digits on ATM card at all. it should be the pin no

Centurion13:


Wema Bank Mobile banking is seamless and maintains 2 factor authentication (password and Token) it is not tied to a particular phone , easy to use and gives you exactly the same features as their internet banking. I was impressed using it.

What's the code?