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Cellphone banking is secure
Super Contributor

At Standard Bank Group we take the security of customers' money and information very seriously, especially on self-service channels such as cellphone banking (currently available only to customers in South Africa).

There has been some talk of the service not being secure as some transactions do not require a PIN. We'd like to put their minds at ease and put this in context.

Early last year we asked cellphone banking users what they thought of the existing offering. At the time, customers said they would prefer to do basic non-value transactions without the need for a PIN. We tested this suggestion and found that some transactions, such as balances and prepaid, to your own cellphones were low risk transactions that we were comfortable to offer without requiring a PIN.

All other transactions require users to enter a PIN selected by the customer (called a CSP) to be able to transact.

Ironically, research done after we implemented this change showed users perceived this new process to be insecure.

It is extremely important for users to feel secure when using cellphone banking, we are working to re-instate the CSP requirement. This is not to say that the service is currently insecure. It remains secure as all high risk transactions are currently protected by a CSP.

This change will be introduced in September 2011.

Do you use cellphone banking and still have security concerns? Leave a comment here telling us what concerns you.
29 Comments
Not applicable
Hi Russel

Thank you for responding to my blog about Standard Banks Cellphone Banking being insecure.

Why aren’t “basic non value Transactions” initiated without a pin on ATMs or on internet banking? The logic that you are using should apply to both these channels as well, why doesn’t cellphone banking comply to the same pin verification standards as the other channels?

Mobile banking and internet banking are rapidly changing and will eventually converge, and as convergence continues to take place where the number of smart phones that have direct access to Internet banking grows, the distinction between internet banking and mobile banking is reducing, To the extent that mobile banking converges with Internet banking, the existing, well-developed internet banking security standards should apply.

I am not certain what type of structured risk evaluation process flow was used to determine the vulnerability impact on the customer but I simply cannot bring myself to understand, why would you adopt an approach to secure high risk transactions only, the privacy of my information is paramount and should be respected, I trust as a client that when I use your self service channel that there are no vulnerabilities, I can’t imagine why you would think it safe not to consider prepaid recharges a risk transaction. As I have pointed out to you on my blog only 2 of the six options require a CSP :

1. Account Balance - No CSP required
2. Mini Statement - No CSP required provides
3. Prepaid Recharge - No CSP require
6 Help – No CSP required but not critical

As I have mentioned in my blog, this is probably one of the best innovations that is going to make peoples banking experience a more pleasurable and convenient one. I look forward to the value added services that will be implemented in the future like, cash sending, paying fines buying electricity etc.

With all the above said and keeping in line with your comment “It is extremely important for users to feel secure when using cellphone banking” I don’t feel secure, I think your Cellphone banking campaign is premature and could have waited till all bugs were fixed in September.

http://sagren.blogspot.com/2011/07/standard-bank-cellphone-banking-is.html
Not applicable
Thank you for responding to my blog about Standard Banks Cellphone Banking being insecure.

Why aren’t “basic non value Transactions” initiated without a pin on ATMs or on internet banking? The logic that you are using should apply to both these channels as well, why doesn’t cellphone banking comply to the same pin verification standards as the other channels?

http;//www.medionakku.de/
Not applicable
I had a cell phone banking with MTN mobile money 3 months ago, then I lost the sim card, so I did a sim swap which I was told to do but am not able to reactivate the cellphone banking again because I don't have an atm pin. I have a card number and a bank pin. So what am i supposed to do?
Super Contributor
Hi there,

It should work with your ATM pin. If you are having a hard time. Please call 0860 238 837 for further assistance.

Thanks
Not applicable
I can't get access on my cellphone banking due to I forgot my pin. What can I do?
Not applicable
I forgot my csp on my cellphone and I need to retrieve it. Any help?
Super Contributor
Hi there,

Please call 0860 238 837 for assistance in resetting your CSP.
Not applicable
Hey, is there anyway I can recover my lost CSP without calling the customer care?
Not applicable
Good day. Please can you people help me. I closed my old Standard Bank account and opened a new 1 at Standard Bank Safari tuine in Rustenburg. The problem is I lost the paper where my ATM PIN was on.
Super Contributor
Please can I ask that you visit your branch so they can help you reset you pin.

Thanks
Not applicable
When I registered for cell phone banking the CSP pin I added was invalid, now I cannot access my bank account due to this. How do I retrieve my CSP pin?
Not applicable
I recently had an abdominal operation and I can't go to the ATM, I'm registered for cellphone banking and to my surprise when I dial *130*2345# it takes me back to the registration process, what could I've done wrong. Please help I am frustrated
Not applicable
I forgot my CSP is there a way to get it back without calling customer care and going to the branch.
Not applicable
Hi I'm concerned about the prepaid recharge where one can automatically recharge by dialling *130*2345#. I think this could create fraud since no csp is required and people can easily access that while you're around. So I think it's best that you add the csp even when dialing the *130*2345# so we can all feel safe about cellphone banking.THANK YOU
Not applicable
Hi, I have registered for the mobile banking service and I have lost my card and got a new one but now they keep telling me that my pin is incorrect. I have phone that 0860 238 837 number and all they say is please visit your nearest branch.
Super Contributor
If you have a new card, you will need to register the new card and pin for the Cellphone Banking service. Unfortunately you will need to visit your branch or try register again by dialling *120*2345#

Thanks
Not applicable
I lost my cheque card and I can't do a cell phone banking and I don't know whether my CSP pin has changed but I keep receiving my balance details everyday. Please help
Super Contributor
Hi there,

You will need to register your new card number for CSP. Please register by dialing *120*2345#.
Not applicable
Is there anything you can do for me as quickly as you can?
Super Contributor
Hi there,

You will need to visit your nearest branch to reset it.
Not applicable
How to change cell number on my cellphone banking??
Super Contributor
Hi there,

Please call 0860 123 000 or visit your nearest branch
Not applicable
Hi i forgot my CSP what must i do?
Super Contributor
Hi there,

Please visit your nearest branch so we can reset it for you or you can change it via Internet Banking.
Hannerie
Not applicable

I recently upgraded my vodacom phone. I used to do cell banking on the previous phone. I performed a sim swap but kept same number. When I dial cellbanking now, I am told that I have insufficient funds. But I don't. I have enough minutes?

Not applicable

Since Standard Bank has come with cellphone banking method, our banking with them has been made so easy and quick. Cell phone banking  helps you from many encounters, you will no longer have to wait on longer queues , the old method of queues were very annoing especially if you are a business person like me. With this method i now transact very quick, within minutes i can complete many business transaction as compared to the old method.

 

Cell phone banking also help you avoid many personal criminals, however i am not saying there are no cyber criminals. Using your cell phone banking is very safe, you are the one who process and confirms all transactions, no one will know your password and login details. 

 

Thanks to standard bank who made banking easy  to their clients, i hope people will engarge themselves to this methood of banking

New Contributor

Since Standard Bank has come with cellphone banking method, our banking with them has been made so easy and quick. Cell phone banking  helps you from many encounters, you will no longer have to wait on longer queues , the old method of queues were very annoing especially if you are a business person like me. With this method i now transact very quick, within minutes i can complete many business transaction as compared to the old method.

 

Cell phone banking also help you avoid many personal criminals, however i am not saying there are no cyber criminals. Using your cell phone banking is very safe, you are the one who process and confirms all transactions, no one will know your password and login details. 

 

Thanks to standard bank who made banking easy  to their clients, i hope people will engarge themselves to this methood of banking

New Member

Hi.

 

I have changed my cellphone number and it's different from the one I registered the card with, so I can't get messages of my banking activities. What should I do?

 

Community Coordinator

Hello @Tholoana,

 

Please be advised that you will need to visit your nearest branch or contact customer care on 0860 123 000 in order to be assisted with updating your contact details.

 

Kind Regards,

Mandy