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One of the best ways to protect yourself against online fraud is to utilise a second layer of transactional security called SecurID® tokens.
A token facilitates payments above your daily limit. This enables you, and only you, to have unlimited access to available funds in your account. Learn more about SecurID® tokens.
A formula for reducing the risk of fraud
The daily limit is the amount you can transfer without the use of a token. By reducing your daily limit you are increasing the number of protected transactions because you would be prompted to use your token more often.
Therefore, a lower daily limit + a SecurID® token = Good Internet Banking practice.
It's your choice
You can determine your own daily limit, thereby opting to use SecurID® tokens for transactions above this selected amount.
For example, setting a daily limit of $0 and using SecurID® token(s) for all Pay Anyone, Overseas or Periodic Payment transactions means the risk of fraud is considerably reduced because a second layer of security – your SecurID® token – will be mandatory to action those payments.
A limit of $0 also means that token usage will be predictable; i.e. required for all relevant payments, not just those over the daily limit.
How much does a token cost?
Your first token is absolutely free of all charges regardless of its usage. Subsequent tokens cost just $5.50 per month. It's a small price to pay for peace of mind. Replacing a lost or damaged token costs $150.
How do I get a token or reduce my payment limit?
Business Online customers can nominate an administrator and request token access or change the daily limit through the Online Self Serve Administration function.
Alternatively you can apply for a token and reduce your daily limit by completing an online application form - select either "Add token access for an existing user" or "Change payment limit".
Check out our Security pages pages to find out more about Internet Banking security and handy tips you can follow to better protect yourself when transacting online.
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