Business Online Banking FAQ
What is Security Manager?
Security Manager is another layer of multi-factor authentication within online banking that can help prevent transaction fraud. This additional layer of security protects you against fraudulent transactions in the event your online banking credentials are compromised by a hacker, and then used to attempt to transfer funds out of your account(s) via wire transfer or ACH. Security Manager is a method of protection referred to as “Out of Band Authentication.”
Out-of-band authentication is a type of two-factor authentication that requires a secondary verification method through a separate communication channel along with your Online Banking ID and password. Even if a fraudulent user gains all security credentials to your account, a transaction cannot be completed without access to the second authentication network, i.e. your mobile phone.
What are the benefits?
Security Manager ensures that only legitimate users are initiating wires, ACH transactions, and internal transfers. It helps protect you against the potential costs and losses associated with transactions that are initiated by unauthorized persons.
Are there fees associated with Security Manager?
No, this is a free security feature we provide. However, your wireless carrier’s standard message rates may apply for the text messages you receive during the process.
How does it work?
Security Manager requires a unique 4-digit code whenever you wish to initiate or approve a wire transfer or ACH batch. We will send you this code via a text message to the cell phone number we have on file for you.
The transaction cannot proceed until this code is entered into Online Banking. If your online banking credentials are compromised, the fraudster will not be able to move funds out of your account because they will not have the code that was sent to your phone.
Note – if you employ dual-control in which a second user must approve a wire or ACH transaction, the second user must follow the same process to obtain his/her own unique passcode in order to have the transaction approved and processed.
How do I begin using it?
Getting started is easy. We will perform the necessary steps behind the scenes to enable Security Manager for your company. Once we make these changes you (and your other users) will be prompted to provide your mobile phone number the next time you login to online banking.
ALL users with access to online banking will be prompted to provide their mobile numbers, even if they do not have wire transfer capabilities. The next time you initiate a wire the system will require that you push the “Send Text” button in order to have a code sent to you via text message. When you click this button, you will receive the code via text message almost immediately. Simply enter the 4-digit code into the Online Banking system. (Note – be sure to leave the Passcode Authentication window open while you are waiting to receive the text.)
What if I enter the wrong code?
If you enter the wrong code, the transaction you are trying to initiate or approve will not be processed. Attempting the transaction again will trigger a new challenge. The transaction can only proceed once you have entered the correct code.
How long do I have to enter the code?
The code will remain valid for 2 hours, after which you will have to request and enter a new code. The cutoff time for domestic wires is 5:00 PM EST. The cutoff time for international wires is 4:15 PM EST.
What if I don’t have my phone with me?
Just call our Treasury Management Support area at 724.463.5857 to have the passcode provided verbally over the phone.
What if I need to change my phone number?
If you need to change the mobile phone number that is associated with your online banking access, just call your Treasury Management Officer or our support area at 724.463.5857. We will make the necessary changes in our system so that you will be prompted to enter your new phone number and wireless carrier information the next time you login.