Account security is always one of the top concerns of every cardholder. With Timo, you can always bank with a peace of mind knowing that your account and card are protected with several layers of security. Some of the layers of security that Timo has include: OTP/iOTP, Quick Code, etc.

How many layers of security does Timo have?

Timo has up to 3 security layers to protect your account.

The first security layer is your username and password that is required upon logging in to the Timo app. Your password requires 8 characters, including upper and lower case letters. If you own a smartphone, this security layer can be replaced by Touch ID or Face ID.

The second security layer is your Quick Code that is required when you try to log in to your app again after not properly logging out. This acts as a replacement for having to enter your username and password again.

The third security layer is OTP/iOTP. With every money transfer transaction, Timo will send an OTP code via your registered mobile number or has an iOTP code provided directly in the Timo app. These OTP/iOTP codes are only valid for 30 seconds to 2 minutes and one time use. If it goes invalid, you have to request for another OTP/iOTP code to continue transacting. This is also the final confirmation step in payment and transfer transactions.

How does Timo help you to lose your concern of losing money?

In addition to the above security layers, the Timo app also helps users to prevent their money from being stolen through the features of “Manage Devices”, “Alerts” and “Lock/UnLock Card In App”.

Manage Devices

To make sure you are in complete control of every activity made with your account, the Timo apps allows you to see all account login/logout history, as well as remove devices that have been used to log in to the app.


The Timo app also provides an Alerts feature to notify you of any transaction or setting change made from your account. As Timo is a digital bank that operates online, all transactions made from your account will be notified to you 24/7. Timo also sends notifications via your registered email address to make sure that you can still manage your account even when you are travelling abroad.

Lock/Unlock Timo Debit cards in app

To help you prevent your money from being stolen when your card or phone goes missing, Timo allows users to lock and unlock their Timo Debit cards in the app to quickly react in these cases. You can easily get this done in the “Manage Cards” section of the app.

As you can see, the risks of losing money are eliminated right at the login step at Timo. With Timo, you can be at peace knowing that you have a personal financial guard that watches your money 24/7 and keep you up to date of any unsuality. Find out more about us here.

OTPs are normally sent through text messages to verify money transfer requests or requests to change/update bank account information. Although OTP helps to secure one’s bank account, it also comes with a certain level of risks and inconvenience. This is the reason why iOTP is applied and used at Timo so customers can be more assured of the security of their bank accounts.

OTP (one time password) is a type of password that is valid for only one use to verify transactions made from one’s bank account. OTP is an automatically generated numeric or alphanumeric string of characters that is sent to your registered mobile number. This is the final security step to allow money in your account to be transfered. OTP will be automatically disabled after 30 seconds to 2 minutes in order to avoid information theft from hackers or disclosure of information.

1. Current issues with OTP

Although OTPs are usually disabled after a short amount of time, there is still a high possibility of OTPs being stolen by hackers. This can directly affect your personal information, account and other “assets” that you have in your bank account. The only way to avoid this from happening is to protect your phone from viruses and hackers.

Receiving OTP via text messages also means that you are dependent on your chosen network provider. This can be a major inconvenience for those who often travel abroad or to places outside the coverage area of their network provider.

2. iOTP – An upgraded version of OTP

As an upgraded version of OTP, iOTP still retains its essence of a one time password but is activated on the digital banking platform. Besides the usual benefits of a one time password, iOTP comes with the following strengths:

  • High-level safety: As iOTP is displayed on the app, this will help to avoid information theft through text messages. In particular, when using Timo’s iOTP, safety is enhanced with more security steps, such as: required login information/fingerprint, quick code, etc.

  • Smart and convenient: Even when you are out of your network coverage or travelling abroad without a SIM card, you can still easily transfer money with iOTP. iOTP is usually displayed clearly in the app, instead of in the form of tiny characters in message pop-up windows. This makes it easier for users to verify their transactions as they can copy and enter their iOTP on the same screen instead of having to exit the app, check their messages, memorize the OTP and log in to the app again.

In comparison with the usual OTP, iOTP is just a simple upgrade but can bring more safety to your bank account and convenience to your daily life.

Join Timo today to enjoy all these benefits brought from iOTP and a free-fee banking experience. Find out more here.