IBAN SIMS, Bangladesh: A bank account number (BAN) is an encrypted way of authenticating your account.
However, for a mobile phone user, an SMS is a much easier way to log into your bank accounts, as it is much easier to enter the details into an SMS.
However there is one issue with using SMS as a authentication method.
In case of an accident, the phone could be lost and the bank has no way of recovering it.
So in order to recover the lost phone, you will have to register an account and enter the BAN to the bank.
There are several banks in the country that have started offering SMS authentication for mobile banking.
The first bank in this category is the Bharat Interface, a branch of National Bank of India (NBIA).
A mobile number can be registered with Bharat through SMS.
Once registered, a bank will be able to verify the user’s identity and password.
The SMS authentication is based on the UID Number (UID) which is assigned to each bank account holder.
For instance, if an individual’s BAN number is 11110, and his SMS is sent to his mobile number, it will also show up in the bank’s database as the person who is registered with that number.
But if the user is from another state, his mobile numbers could not be linked to his Aadhaar number.
Another issue that needs to be considered is the time between the bank sending the SMS and the SMS being received by the mobile bank.
For example, if the SMS was received by 9:00 PM, the SMS would have to be sent again at 11:00 AM.
This is because it would take a total of 1-2 hours for the SMS to reach the bank account, and the phone number would be checked by the bank to verify its validity.
This can also delay the process of retrieving the lost mobile phone from the bank by around 5-10 minutes.
For mobile banking to be truly effective, the banks needs to add in SMS authentication and other features such as time limits, access codes and PIN verification.
In the next article, we will discuss how to get SMS authentication from a bank account.