Axis bank introduces Net Secure

Posted By: KP On April 7, 2009 Under Internet, Security Stuff Categories

After  a lot cases of cyber crimes in India,Axis bank has decided to prevent thier customers from such cyber crimes.

For this they have introduced Net Secure.Simply this means they will verify you via any method.Security key generation tool,SMS verify or PC locked login.

They are charging  Rs 150 for SMS verification and Rs 800 for security key generator device.But speding this amount you get great security.

NETSECURE is a secured system wherein two different parameters (one that you already know, like your login ID and password and second, a single usage password that you generate or receive) are used together to verify your identity on the internet. Using two factors as opposed to one factor (just the login ID and password) ensures heightened security for your online transactions.

  1. NETSECURE with SMS :In NETSECURE with SMS, the NETSECURE Code (a single usage password) is sent to your mobile phone through SMS. Every time you transfer funds or register a beneficiary (recipient), you need to enter the NETSECURE Code to complete the transaction, after which the Code will expire.
  2. NETSECURE with WebPin:To login using NETSECURE with WebPin, you need to register one or more of your frequently used computers. You can then use iConnect only from these registered computers. In addition, during registration, you will be prompted to set a WebPin. This WebPin will be used to generate a NETSECURE Code (a single usage password) which will be required to login and transact on iConnect.
  3. NETSECURE with 1-Touch:NETSECURE 1-Touch is a small device that generates a unique NETSECURE Code (a single usage password) every time a button on it is pressed and held. This NETSECURE Code will have to be entered in addition to your login ID and password to login to iConnect. Every NETSECURE Code expires after 50 seconds and you have to generate a new code to login.

Security key generator device

It should be noted that it is mandatory to register for NETSECURE to transfer funds online from 1st June, 2009.

So which way you feel convinient ? Let me know in comments



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12 responses. Wanna say something?

  1. anonymous
    Apr 22, 2009 at 15:26:42
    #1

    you are rite. its a very good service. i feel safe now :)

    [Reply]

  2. DevilS
    Apr 22, 2009 at 16:17:35
    #2

    I think First option is the best option as we carry our cellphone everytime…in case theres a need we can always easily and quickly transfer funds.

    [Reply]

  3. User
    Apr 23, 2009 at 12:23:06
    #3

    it’s really safe. feels good that now we can transfer money without worry. but why do i need to use netsecure code in 1-touch option only to see my balance or statement when i can do the same without even registering for it. i think it should be required at the time of actual transferring money only.

    [Reply]

  4. Manidhara
    May 22, 2009 at 14:33:43
    #4

    Does Netsecure SMS password required for tranferring
    funds through power transfer , if any body knows do let me know the answer..

    [Reply]

  5. Mohamed Vaseem A
    Aug 12, 2009 at 00:54:58
    #5

    I tried to transfer fund thru Third party fund transfer & it asked for a transaction password. When I entered it It got disabled due to invalid password. Please advise or help to find the correct password.

    [Reply]

  6. Hemant
    Aug 12, 2009 at 17:33:13
    #6

    Its good facility they r providing, but why customer has to pay for basic netbanking security..no other bank charges for it although they r providing such facility. I don’t mind paying charges for any additional security layer above basic security. Its banks full responsibility to provide to its customer the basic security, you can’t just charge for it. On top of it Axis bank is only bank who charges consolidation charges without any proper justification, again no other bank charges such consolidation charges,.

    Hemant

    [Reply]

  7. sharath
    Sep 18, 2009 at 07:35:07
    #7

    i love axis bank

    [Reply]

  8. Velukho
    Feb 2, 2010 at 19:00:58
    #8

    Thank You.

    [Reply]

  9. Raghu
    May 3, 2010 at 13:33:48
    #9

    The Netsecure 1-touch device costs 800 bucks. It’s free for their priority banking customers. It should also be free for normal account holders who maintain good average balances much above the stipulated 5k.

    The sooner they realise that customers are using other banks for their online payments, the better it is for Axis.

    So far, Axis has never pioneered anything…always been a follower. It’s an also-ran & taking a lot of time to move ahead from this mindset.

    [Reply]

  10. Namey
    Apr 13, 2011 at 16:22:21
    #10

    How do i change my number in the Netsecure Database?? I have lost my phone and changed my mobile number. I have been trying for the past 2 months.

    [Reply]

    KP Reply:
    April 16th, 2011 at 7:33 am

    contact iconnect helpdesk

    [Reply]

  11. Amit Shinde
    Jul 16, 2011 at 20:32:27
    #11

    Webpin service can’t be used on Linux devices or Android phones or tabs….
    so even when I want security I can’t get as most windows devices are affected with viruses…

    [Reply]

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