#bdo nomura

BDO Securities (formerly BDO Nomura) has sent out an urgent email alert to all customers that starting January 30, 2022, it will no longer allow the use of OTP Generator for Desktop and Mobile App. Instead, only the One-Time Password via SMS will be accepted when logging into the online accounts (BDO Securities account). BDO is requesting customers to update their mobile phone numbers registered with the bank so the OTP will be properly sent during the login process. The OTP Generator in the app will still be there but BDO says to disregard it. This recent move by BDO to disable the OTP Generator could be attributed to the recent hacking incident with BDO online customers. It is possible that the suspects identified the flaw in BDO's security system and pointed to the OTP Generator as the weak point, prompting BDO to issue this statement. BDO has sent out a notification alert earlier this month to all its banking subscribers that they will start collecting "transfer fees" on BDO to BDO transactions. Currently, the transfers are free of charge but BDO is shifting to the Php10 per transfer starting March 15, 2017 and also increasing the daily limits to Php50,000. Read more in our articles including "BDO Securities to shut down OTP Generator, will only accept SMS" and "BDO to charge Php10 to send to any BDO accounts".