Most transactions require an OTP to successfully complete, you also get notifications whenever a login to your account is performed.
I think it would probably be a good idea to have some sort of separate 2FA device linked at home but I doubt they'll ever implement it. You would want it separate to your phone because if your wallet and phone get stolen you can login to the online banking account and deactivate your stolen cards without having to go to the bank.
If the phone has a PIN or similar (I realize not everyone has) and the 2FA app has a pin/password, then that does seem like a reasonable level of security.
No, because getting your phone and wallet stolen (they are likely to both be on your person so both would likely be stolen at the same time) means you couldn't then log on to online banking and deactivate your credit cards (which you would want to do as soon as possible)
Edit: Just to clarify a bit more, most cards here have a tap and go function requiring no PIN up to a certain amount. Although the amount is small I'd still rather have it that no one spends my money.
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Most transactions require an OTP to successfully complete, you also get notifications whenever a login to your account is performed.
I think it would probably be a good idea to have some sort of separate 2FA device linked at home but I doubt they'll ever implement it. You would want it separate to your phone because if your wallet and phone get stolen you can login to the online banking account and deactivate your stolen cards without having to go to the bank.
If the phone has a PIN or similar (I realize not everyone has) and the 2FA app has a pin/password, then that does seem like a reasonable level of security.
No, because getting your phone and wallet stolen (they are likely to both be on your person so both would likely be stolen at the same time) means you couldn't then log on to online banking and deactivate your credit cards (which you would want to do as soon as possible)
Edit: Just to clarify a bit more, most cards here have a tap and go function requiring no PIN up to a certain amount. Although the amount is small I'd still rather have it that no one spends my money.
That's a good point. I have done it a few times and it can be done quickly by phone at least.