Bank of america 2fa

Bank of America has a longstanding history in the support of authentication for the online banking experience.ExternalThis content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.They were one of the first major banks to join the FIDO Alliance and be appointed to its board in 2014. In 2016, they championed, alongside Yubico and several others, the launch of the “Lock Down Your Login” public awareness campaign designed to enable every American to better secure their online accounts through the use of strong authentication.While there have been many milestones over the last decade, today marks a true ‘security step up’ for online banking account sign-in and bank transfer protection for many Bank of America customers. Bank of America has announced that they are replacing SafePass with the new Secured Transfer feature, which allows for USB security key registration and transfer authentication with YubiKeys. They have also provided the option for many Bank of America customers to sign-in to their online banking account with a USB security key.Bank of America’s SafePass theft protection was originally introduced to provide individual, small business, and brokerage customers with an extra layer of security against unauthorized transactions. Previously, SafePass only allowed for one-time code mobile authentication or via SafePass Cards. Bank of America’s advancement to the Secured Transfer feature builds off of this foundation by introducing the option for more secure, FIDO-based hardware authentication. Many Bank of America online banking users that have a YubiKey, can now register their security key for account sign-in two-factor authentication (2FA) as well as setting up the Secured Transfer feature to add an extra layer of physical security to their online account. If you are a Bank of America customer and do not have a YubiKey, you should consider increasing your security posture with a YubiKey. How to set up your YubiKey for Secured Transfer and online banking sign in: Log-in to your online Bank of America account using your username and password; Once logged in, go to “Profile & Settings” in the top right corner, and under “Security settings” click on “Manage SafePass”; Depending on your type of account and/or account settings, you should see the option to add a USB Security Key, as well as enable Secured Transfer.Once your USB security key is set up, when signing in to your online account or executing a bank transfer, you will be prompted to touch your YubiKey. When touched, the YubiKey executes a public key cryptographic exchange with the bank’s online service that verifies that you and only you are in possession of the security key thus allowing for secure sign-in and the bank transfer to occur. If your

You to an external page) showed that SMS based authentication "can block up to 100% of automated bots, 99% of bulk phishing attacks, and 66% of targeted attacks".Mobile phone 2FA has become the industry standard, as most people carry their mobile phones at all times. It's a user-friendly flow, and dynamically generated passcodes are safe to use and users can receive special tokens through SMS or a dedicated authenticator app like Twilio's Authy(link takes you to an external page).Is SMS 2FA secure?is-sms-2fa-secure page anchorSMS authentication has long been a popular choice for securing consumer accounts. It's a familiar channel to deploy and SMS 2FA usage has even grown 9%(link takes you to an external page) in the last two years. While the SMS channel has legitimate security concerns, businesses should consider their threat model and offer a spectrum of 2FA options. Offering more secure channels like authenticator apps and push authentication is especially important when you're protecting high value targets like a bank account or email. For more details, check out this blog post on 5 reasons SMS 2FA isn't going away(link takes you to an external page).Incentivizing Two Factor Authenticationincentivizing-two-factor-authentication page anchorOffering 2FA isn't enough: your users also have to turn it on. Check out this blog post with tips for incentivizing 2FA(link takes you to an external page) including real world examples from banking and gaming companies.Examples of Two Factor Authenticationexamples-of-two-factor-authentication page anchorWhen you use your credit card and are prompted for your billing zip code, that's 2FA in action. Knowledge factors(link takes you to an external page) like your zip code may also be passwords or a personal identification number (PIN). Possession factors(link takes you to an external page) like your credit card include (but are not limited to) a physical key, fob, and personal cell phones. Two factor authentication for web applications similarly requires something your user knows (their password) and something they have (their personal mobile phone).Two-step authentication vs. Two-factor authenticationtwo-step-authentication-vs-two-factor-authentication page anchorUsing two knowledge factors like a password and a PIN is two-step authentication. Using two different factors like a password and a one-time

GlossaryTwo-factor authenticationDefinition of Two-Factor AuthenticationTwo-factor authentication (2FA) is a security process that requires users to provide two different authentication factors to verify their identity. Typically, these factors fall into three categories: something you know (like a password or PIN), something you have (such as a smartphone or security token), and something you are (biometric data like fingerprints or facial recognition). By combining two of these factors, 2FA adds an extra layer of security beyond just a password, significantly reducing the risk of unauthorized access to sensitive information.Origin of Two-Factor AuthenticationThe concept of two-factor authentication traces back to the need for heightened security in the face of increasing digital threats. One of the earliest implementations can be found in automated teller machines (ATMs) where users are required to have both a physical bank card (something you have) and a PIN (something you know) to withdraw money. Over time, as online services and transactions became more prevalent, the necessity for stronger authentication methods grew, leading to the adoption of 2FA in various digital platforms and services.Practical Application of Two-Factor AuthenticationToday, 2FA is widely used across a multitude of online platforms, including banking websites, email services, social media accounts, and cloud storage providers. For example, when logging into an online banking portal, users may be prompted to enter their username and password (first factor) followed by a unique code sent to their mobile device via SMS or generated by an authenticator app (second factor). Similarly, major email providers offer the option to enable 2FA, requiring users to enter a temporary code from a secondary device or app in addition to their password for access.Benefits of Two-Factor AuthenticationThe primary benefit of 2FA is its ability to significantly enhance security by adding an extra layer of protection against unauthorized access. Even if a malicious actor manages to obtain a user's password through means such as phishing or data breaches, they would still need access to the second factor to successfully authenticate. This greatly reduces the likelihood of successful account compromises and helps safeguard sensitive information, personal data, and financial assets from unauthorized access and fraudulent

Screen, then click on “First time user? Enroll now” or click here. To continue the enrollment process, please proceed with the following steps:Review and agree to the Online Enrollment AgreementEnter the following informationSocial Security Number (EIN and ITIN are also accepted)An active account numberE-mail addressPhone numberA one-time passcode will be sent to the email address on file. You must enter the code within 5 minutes or it will expire.You will be asked to choose your two-factor authentication (2FA) method. Once method has been chosen, you will be required to complete the verification process.Review and agree to the User AgreementAfter agreeing to the User Agreement, you will be asked to create your credentials (username and password) that will be used for all future logins.Two-Factor Authentication (2FA)In addition to the one-time passcode, we also require two-factor authentication (sometimes referred to as multi-factor authentication or MFA) to provide an added layer of security. What is two-factor authentication (2FA)? Two-factor authentication (2FA) is common practice when accessing your accounts across various mobile apps and online platforms. 2FA provides an added layer of security to help safeguard your financial information by requiring two forms of identification to gain access. All online and mobile banking accounts will require 2FA. Will I need my own username and password? If you currently share a username or password with a spouse or family member, you will need to contact your local Stillman Bank office to ensure additional users have their own login. With two-factor authentication, your experience is unique to each individual user. How will I login for the first time? To login for the first time, you will enter your user ID and password. You will then begin the 2FA process.To implement 2FA, you will select one of three options to receive a one-time verification code to validate your identity. Voice or text message to a landline or mobile device Authy - an authenticator app Authenticator app - our new platform supports any authenticator app using manual code entryIf you aren’t currently using or familiar with Authenticator Apps, we suggest selecting the first option of “voice or text message”. You will then be prompted to enter a phone number (either mobile or landline). It will be used to contact you with a unique verification code. Once you receive the code, you will enter it where prompted. From there, you will be directed to your new online or mobile

On This PageBank of America checking accounts1. Bank of America Advantage SafeBalance Banking2. Bank of America Advantage Plus3. Bank of America Advantage RelationshipBank of America checking account promotions and bonusesAlternatives to Bank of America checking accountsOn This PageBank of America is one of the largest banks in the U.S., and it offers a wide selection of products and services.Bank of America offers several different checking account options. Each connects to the bank’s highly-rated mobile app to help you manage your finances. As a BofA customer, you’ll also have access to a large network of bank branches and ATMs.Bank of America earned 3.5 out of 5 stars in Bankrate’s overall review of its deposit accounts. Its checking account earned 3.7 out of 5 stars.Here’s a closer look at the checking accounts offered by BofA to help you decide whether one is a good choice for you. Bank of America checking accounts BofA offers these checking accounts:Account nameAPYMinimum depositMonthly feeBank of America Advantage SafeBalance BankingNone$25$4.95Bank of America Advantage Plus BankingNone$100$12Bank of America Advantage Relationship Banking0.01-0.02%$100$25Note: Annual percentage yields (APYs) shown are as of Feb. 3, 2025 and may vary by region for some products. 1. Bank of America Advantage SafeBalance Banking The Advantage SafeBalance Banking checking account has safeguards to help you stay within the bounds of your account balance.Instead of allowing an overdraft to occur, BofA will decline your transactions if the funds aren’t available in your account, avoiding an overdraft fee.Checks are not offered with this account. Instead, transactions are

Investing involves risk. There is always the potential of losing money when you invest in securities. Past performance does not guarantee future results. Asset allocation, rebalancing and diversification do not guarantee against risk in broadly declining markets.Neither Bank of America Private Bank nor any of its affiliates or advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.Credit and collateral subject to approval. Terms and conditions apply. Programs, rates, terms and conditions subject to change without notice.Trust, fiduciary and investment management services, including assets managed by the Specialty Asset Management team, are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”), and its agents.Bank of America Private Bank is a division of Bank of America, N.A.U.S. Trust Company of Delaware is a wholly owned subsidiary of Bank of America Corporation.p>Investment products:Are Not FDIC Insured Are Not Bank Guaranteed May Lose ValueBank of America, N.A., and U.S. Trust Company of Delaware (collectively the “Bank”) do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank.