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Security Bank now sends SMS on ATM transactions

Abe Olandres Editor-in-chief September 1, 2014 · 1 min read

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Just received an SMS from my account manager from Security Bank early this morning (this was after one missed call). The SMS asked for confirmation on an ATM withdrawal the day before.

Then, we noticed several other Security Bank customers also report of the same SMS confirmation (just that mine was more personalized).

security-bank-sms

This is perhaps due to the recent string of bank ATM scams that wipe out funds of customers. I was also told by my account manager that this is a new security policy they are enforcing, especially if the withdrawals are sizable.

Good job to Security Bank then. Anybody else using them and getting SMS confirmations lately?

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Abe Olandres

Editor-in-chief

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and is considered by many as the Father of Tech Blogging in the Philippines.

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30 Comments

Randee · 9 years ago

Security bank that has no security. Just last Friday 3 unauthorized transactions got approved from by checking account. Very stressful specially if you worked so hard to earn every centavo.

zarneguy · 12 years ago

The bank is not ‘asking but rather ‘sending’ SMS confirmation for ATM transactions. This is a good move by the bank to alert their account holders for any possible fraud.
Some banks have a second layer of security added for Online banking. User Name @ Password Plus Right Answer to a Challenge Question. I am not sure if Phil. banks are using this additional security measure.

olivertwist · 12 years ago

Nye. Tagal na ginagawa ‘to ni Security Bank.. Wala ng maibalita Yuga??

snowthen · 12 years ago

The SMS I got was from Megan Young. what’s up with that?

A · 12 years ago

This morning, I reported three unauthorized transactions made last week which practically wiped out my balance from this bank. I never got any SMS when these were made. =( Now I’m wondering – maybe there’s way to suppress this SMS system when unauthorized transactions are being made?

Abuzalzal · 12 years ago

Dito sa saudi everytime magwi2thdraw ka in any atm booth may sms regarding kung saan at magkano inilabas mo, at pag online transaction naman di mo maoopen account mo unless maipasok mo ung pin na isesend ng bank through sms

Yeah · 12 years ago

“pag online transaction naman di mo maoopen account mo unless maipasok mo ung pin na isesend ng bank through sms”

It’s called 2-factor Authentication (2FA). Meron na nyan sa Citibank and BDO online banking.. ewan ko lang sa iba.

Silverlokk · 12 years ago

Teka muna, they sent you a message the day after a possible withdrawal? If I understand rightly, they’re asking for a confirmation after the transaction. So if someone withdrew from your ATM using a skimmed card, your account has already been debited, and the best they can do is reinstate the debited funds. Fine for depositors, but in the long run, bad for the banks — not just Security.

Don’t they have cameras on ATMs? They should be able to use those to see who used a skimmed card

Abe Olandres Editor-in-chief · 12 years ago

Yes. I guess it does not make a difference whether it was done 5 minutes or 5 hours after since in both cases, the money was already withdrawn.

They have cameras sa ATMs and as far as I know, each transactions comes with a snapshot of the user.

Eason · 12 years ago

Very convenient especially on online transactions, I get SMS notifications even on payment bills or reloading my phone.

Karl Winston · 12 years ago

Feature na to ng Smartmoney at Globe G Cash noon pa. Sana both sa ATM at Credit Cards maging isang security feature na nila ito. Sa CC ang BDO MC meron nito, sa PNB wala. Ewan ko lang sa iba.

Easy E · 12 years ago

Dapat lang. “security” pa man din ang pangalan nila. Kaya lang, tatagal ang pila sa atm machine kung magaantay pa ng confirmation ang nagwiwidthraw (kung automated ang sms). Saka bakit next day pa natanggap?

Easy A · 12 years ago

Bat mo pa aantayin yung confirmation kung ikaw mismo nagwithdraw? Di ka aalis hangga’t sure ka na ikaw ung nagwithdraw kahit ikaw talaga ung nandun? Hahahaha
Pero agree ako sa second point mo na hindi dapat next day ung sms. Dapat within 5 minutes. Nevertheless, Good job security bank.