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Forums › Finance and wealth management › Best bank in NZ for good apps and security
philthynz

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#298934 28-Jul-2022 15:59
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Is there a bank is NZ that has MFA/2FA via OTP (not Sms or email) on their Android apps and website login? And on all payments?

Westpac don't have this or android pay, so I'm considering to switch.

Also, which bank is considered to have the best security?

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michaelmurfy
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  #2947678 29-Jul-2022 07:08
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So security is one thing the bank will actually cover you for as long as you’re not stupid. With ANZ, as long as you have a secure password, don’t share access and have OnlineCode setup they’ll cover you for any security shortfalls (such as SMS based 2FA which isn’t perfect). Everything else is as secure as anything and they take security seriously, and you’re personally covered by their internet banking guarantee if you’re not stupid (so, don’t use account scrapers at all or hand over your banking login to a third party). I worked on this platform for a number of years and know it very well and personally put my trust in it as I bank there.

BNZ is my other main bank - I like their app, the technology they’ve invested in etc. The security however has only improved rather recently as they only allowed for passwords up to 8 characters long and didn’t care about case but even with this they’ll still cover you for any fraud as long as you’re not stupid.

Personally I’d put my trust in any bank. Pick one that suits you. They’re all “secure” and have sound guarantees that aim to protect you (and them). Just don’t be stupid, don’t use POLi, account2account or Pocketsmith and use whatever security options they offer you. Also ensure you’re not using a compromised password (https://haveibeenpwned.com).




Michael Murphy | https://murfy.nz
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