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SMS One Time Passwords

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Reminder security upgrade – coming soon. Please be aware that changes to our One Time Password (OTP) security will be taking effect in May 2021.

We are upgrading to SMS One Time Passwords (OTP).

SMS OTPs are single use security codes that are sent directly to your mobile phone number on record with Macquarie Credit Union.

For SMS OTP to work for you when this change comes into effect, it is very important that you have a mobile number on record with Macquarie Credit Union and that your mobile number on record is current at all times.


Additional benefits of SMS OTP

  • Registration will be automatic and more of our members will be able to access the benefits of SMS OTP Security without the inconvenience of the registration process.
  • Following the introduction of SMS OTP members won’t need to have a token security device or to download the additional VIP Access app.
  • This new structure will eliminate the need for members to re-register for OTP security, should you upgrade your mobile device and keep the same mobile number. However, you will need to advise Macquarie Credit Union if you change your mobile phone number.


How will this change my online banking experience?
All members will be required to enter a SMS One Time Password for the following actions:

  • Adding a new payee
  • Updating personal details
  • Card PIN changes
  • Access Code changes

When the SMS One Time Password has been entered once for any of the above actions, it will not be required again during the same active session. An active session will end, when you logout or your session time expires.

Members who haven't experienced One Time Password Security
If you havent experienced one time password security previously, you will notice a number of changes when SMS OTP comes into effect.

  • You will no longer be required to enter in your Access Code repeatedly to confirm all your transactions.
  • You will have access to new convienient online banking features including card pin change and online access code changes.

Members will no longer require an Access Code for the following actions:

  • To transfer funds to between accounts, or to saved payees and billers.
  • To set up reoccurring payments to between accounts, or to saved, payees and billers.

This means that regular transactions will be easier for members, whilst funds will not be able to be transferred to new or updated payees and billers without an SMS One Time Password.

Members with Token OTP

From late May 2021, we will no longer have access to a suitable retailer who can facilitate the Symantec Token Devices and the VIP Access Token App. Due to this change, we have no choice but to discontinue Token SecurityFor continuation of One Time Password authentication within our Internet Banking and Mobile Banking App, SMS OTP will work exactly the same as Token OTP Security, except members will need to enter the confirmation code sent to your mobile phone number by SMS instead of the token security code you use now.


When will this change occur?
The changeover date will be determined in due course by our 3rd party Internet Banking service provider. We will advise members of this date as soon as practically possible.

Please stay tuned to your emails from Macquarie Credit Union and News Updates on our Banking App and website for notification as well as other important information for members.

To confirm your personal details on record with us are correct, please contact our friendly team on 1300 885 480 (during branch hours) or update within your Internet Banking login or the Macquarie Credit Union Banking App.