SeABank leads in securing online deposits with security codes to enhance customer financial safety

SeABank is rolling out a security-focused feature for online deposit customers, aiming to strengthen protection of savings assets as digital banking expands.

Feature introduced to protect online deposits

The bank has launched “Security lock for online deposits,” designed to provide customers with additional safeguards against common risks in digital channels, including credential or OTP leaks, malicious app installations, and phishing links.

With the feature enabled, customers set up a private secret code to protect their savings book. The code is held only by the account owner and is required to withdraw funds or close the deposit. If the account is accessed without authorization, the deposit remains protected without the security code.

How it works across deposit activities

The security mechanism is designed to align with the deposit life cycle. For auto-renewals that include both principal and interest, the security lock remains in place without requiring customers to change the code. If the deposit is not renewed, the feature automatically ends at maturity, and customers receive principal and interest in accordance with regulations.

Biometric authentication added for withdrawals and closures

In addition to the security code for deposits, SeABank applies biometric authentication when withdrawing or closing online deposits. The combination of the security code and biometric verification is intended to create a “double technology” approach to strengthen defenses against financial security risks in the digital environment.

Support for customers who forget the code

To help ensure continuity of service, SeABank provides a support mechanism for cases where customers forget their security code. Customers can visit SeABank branches for verification and assistance. The bank also states that its hotline, 1900 555 587, is available to answer questions and provide timely support.

Context and significance

SeABank notes that online savings has become a preferred option due to convenience and flexibility, allowing customers to open accounts, select terms, monitor interest rates, and manage deposits through the SeAMobile app (SeABank, HOSE: SSB). Alongside this shift toward digital savings, the bank says it has identified growing security needs and responded by enabling customers to actively protect deposits through a personalized security mechanism.