SMS Password definition

SMS Password. The single-use password sent to the customer’s mobile phone number registered in the system, that is used to enter the Branchless Banking Channels as required by the Bank and/or the related legal regulations, and that is also used in transactions requiring a second approval.
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Examples of SMS Password in a sentence

  • SBIS is hereby authorized by the Company to accept all valid instructions through the sbionline Services over electronic medium singly/jointly by using valid Username/Password 2FA, 8 SMS Password from the authorized signatories in respect of the Company’s Account(s) as per the operating rules from time to time.

  • The Customer agrees and declares that s/he shall not share, with any third persons, and shall not let anyone, other than him/herself use, the Passwords produced by additional security applications such as Şeker Mobile Password, Soft OTP, SMS Password, Mobile Signature; that, at the time s/he suspects that the Password is learned by third persons, s/he shall inform the Bank immediately, and that, otherwise, s/he shall be responsible for transactions made by unauthorized persons.