Continuing our efforts to improve your experience and to enhance security while using 1bank for your electronic banking transactions, Bank of Cyprus has introduced two new Digipass “virtual” devices.
Bank of Cyprus offers two new Digipass “virtual” devices:
Both new Digipass types, same as today with the existing hardware Digipass devices, gererate codes (One time Passwords) that are used for verifying the authenticity of transactions through the 1bank channels and for instructions sent by fax (Digipass APP).
They provide improved convenience as they are easier to use and also enhanced security because the generated unique “One Time Passwords” (OTP) are specific to each transaction. The passwords created, take into account basic transaction data, such as: the type of transaction, the beneficiary’s account, the currency, the amount etc. In addition to the provision of the One Time Password, the subscriber is also informed about these basic transaction data before authorizing a transaction, thus avoiding any possibility of error.
Increased daily transaction limits
Due to the enhanced security, you have the option of increasing your daily Digipass transaction limits by signing the appropriate application.
Available for use at any time
Unlike the existing hardware devices, with the new Digipass types, you do not need to carry a device with you for authorizing electronic banking transactions. You only need::
Your mobile phone device (for the SMS Digipass) and the One Time Passwords are sent via sms to the mobile phone number which is registered in the Bank's systems,
Your handheld device of your choice (Mobile, Tablet) (for the Digipass APP) and the One Time Passwords are generated through an App (Application) installed on the device.
Further to the ease of use, the new Digipass types do not require replacement due to battery depletion or deterioration/damage of the display etc., as is the case with the existing hardware digipass.
Choose today any of the new Digipass virtual devices according to your needs and preferences (Click on the links below to see the characteristics of each Digipass):
SMS Digipass Digipass APP
Note: It is recommended to customers who already have in their possession the old types of Digipass devices (models GO3, DP550, DP320), to replace them at their earliest convenience. An announcement for the replacement of the old types, will be published with prompt notice.