OFX introduces 2-Step Verification

Improved security measures to protect your account with OFX

What is 2-Step Verification?

2-Step Verification is an extra level of protection to your account which ensures that only you will be able to perform important actions on your account, even if someone knows your password.

 

Why is 2-Step Verification important?

2-Step Verification increases the general security of your OFX account. By requiring a two-step verification process it minimizes exposure to fraudulent activities such as your account being compromised by an unauthorized user.

 

How does 2-Step Verification work?

Every time you create a new recipient, change details of an existing recipient or update your personal details on the OFX secure website or mobile app, you will need to provide two pieces of information - your password and a verification code that will be sent by SMS text message to the mobile phone number on your OFX account. A verification code is only valid for 3 minutes and every time you attempt to login we send you a different code. This extra level of protection significantly improves the security of your OFX account because your password alone is no longer enough to make important changes to your account.

Business clients with a Global Currency Account (GCA): Please note: GCA clients will be prompted to enter a verification code at login.

 

What do I do if I don’t receive a verification code via text message?

We automatically send you a text message with the verification code when you create a new recipient, change the details of an existing recipient or change your personal details. If you didn't receive a text message, you can tap ‘Resend Code’ on the screen and we’ll send you another code to your number.

Business clients with a Global Currency account (GCA): GCA clients will receive a text message automatically at login.

 

I received an SMS text message but I was not trying to access my account. What do I do?

If you receive a verification code but were not trying to log in to your OFX account, please report it immediately by calling us at:

  • +44 207 614 4194 (Personal account helpline)
  • +44 207 614 4195 (Business account helpline)

In case you are overseas, you can view our international phone numbers.

 

My mobile number has changed OR OFX doesn’t have my mobile number, so how can I receive the SMS verification code? What should I do?

If you are unable to receive an SMS text message or need to update your details simply click on ‘Need Help? Contact Us’ and give us a call 24/7. Our customer service team can help update your mobile number over the phone, so you can start receiving verification codes.

To ensure that you can always make changes to your account online, we strongly encourage that you keep the mobile number on your OFX account up-to-date in the ‘Profile & Settings’ section on the website.


I am overseas and am unable to receive the SMS verification code. What should I do?

If you are travelling overseas and are unable to receive an SMS text message, you can click on ‘Need Help? Contact Us’ and give us a call. If you have an alternate mobile number whilst you are overseas, our customer service team can help update your mobile number over the phone, so you can start receiving verification codes. If you do not have an overseas number, you will not be able to make changes to your account online whilst you’re overseas. Our customer service team will be happy to help you with any account-related questions and requests, including transfers, over the phone.


Can I turn-off 2-Step Verification?

You cannot turn-off 2-Step Verification. The Financial Conduct Authority in the UK requires financial institutions in the UK & Europe to implement security measures, including 2-Step Verification when customers perform specific actions on the website or the app that may expose customers to potential fraud. At OFX, we make client security our priority. As regulations change we will ensure we update our security practices to continue to reduce the risk of fraudulent activity on your account.


Does it cost to use 2-Step Verification?

We recommend that you check with your mobile phone provider to understand if there are any costs associated with receiving SMS text messages, especially when travelling overseas.


Do I still need to remember the security question associated with my OFX account?

Yes. Currently, we have rolled out 2-Step verification only on certain digital channels - secure web and mobile app. So, you will no longer be asked to answer your security question within these channels. However, when contacting us over the phone, we might still ask you to answer your security question to ensure that we are speaking to the right person.


I have multiple mobile numbers. Which mobile number will the verification code be sent to?

The verification code is sent to the mobile number that was added most recently to your OFX account. On the 2-Step Verification popup, you can also view the last 3 digits of the mobile number we have sent the code to in case you’ve forgotten what number we currently hold.


I have an authorized user on my account. Can I add another number to receive the verification code?

No. To-date we can only send the verification code to one mobile number per account.


I do not have a mobile number. What alternatives do I have?

OFX only supports 2-Step Verification through SMS verification codes. In case you do not have a mobile number and want to perform actions which require verification, you can click on ‘Need Help? Contact Us’ and give us a call. Our customer service team will be happy to help you with any account-related questions and requests over the phone

If you have any questions that aren't answered in our FAQs, feel free to ask us here.

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