Why do I need to authenticate certain transactions?

Authentication is a security measure implemented to protect your financial information and assets. It ensures that you are the authorized account holder and that your transactions are legitimate.

What types of transactions typically require authentication?

Transactions that often require authentication include large fund transfers, online purchases, and other high-risk activities. These measures are in place to prevent fraud and unauthorized access.

How does authentication work for banking transactions?

Authentication typically involves verifying your identity using various methods, such as entering a one-time password (OTP) sent to your registered mobile number or email, using biometric data (like fingerprint or facial recognition), or providing answers to security questions.

Is authentication necessary for every transaction I make?

No, not every transaction requires authentication. Routine and low-risk transactions may not trigger additional security checks. However, high-value or unusual transactions may prompt the bank to verify your identity for your protection.

What happens if I don't complete the authentication process for a transaction?

Failing to authenticate a transaction may result in the bank declining the transaction or flagging it as suspicious. This is done to prevent unauthorized access or potential fraud on your account.

Is authentication time-consuming?

Authentication processes are designed to be quick and efficient. Most often, it only takes a few seconds to complete, and it adds an extra layer of security to your transactions.