3DS2 and Fast Bank Transfer

What stands behind the abbreviation 3DS2?

3DS2 is a next-generation multi-factor protocol for authentication for digital identity confirmation during checkout. It is always on, is optimized across all devices, and provides automated fraud protection. 3DS2 gives the user more choice for authentication of transactions.

3DS2 stands for 3D Secure 2 and is a new standard that has been recently promoted as a solution SCA under PSD2. From 2020 on, this multi-factor protocol is required by the banking authorities and covers any transaction online above €30.

How does 3DS2 work?

The multi-factor authentication protocol requires from the user to provide something that they know (like pin or password), something that is in their possession (like credit card or mobile device) or something that is integral part of their physical identity (like voice pattern or fingerprint). The objective is the user to confirm that they are the authentic account holder when a transaction is being processed. If you want to activate 3DS2 or to receive more information about the authentication protocol, please contact your bank.

What is Fast Bank Transfer?

Fast Bank Transfer has been developed by Worldpay – a leading company in payment processing technology. The field of work is reliable and secure technology. The SEPA transfer through Fast Bank Transfer is recommended by VieFinance. With Fast Bank Transfer a user can deposit money into their trading account from their personal bank account.

How does Fast Bank Transfer you work?

What are the steps needed for a user to make a Fast Bank Transfer? They must make sure that they are logged into the trading account through a web browser (and not the mobile app). Then they must choose the option Local Payment Solutions and enter the amount and currency they want to deposit in. Then the user will be to a page where he or she will be able to choose the option Fast Bank Transfer and reaffirm the already chosen currency. The user will be presented with account details needed for making the transfer. They must note the Payment Reference Number that has been written in red. This number must be quoted correctly when telephone banking or input accurately in the Reference field (payment reference/details of payment/ reason for transfer) in case of online banking.
When the payment is received the funds will be available in the trading account. Please note that up to three days could be in need for a payment to be received. If this period has passed and the funds are not available in the trading account, the user must send Proof of Transaction containing:

  • The date;
  • The amount and the currency of the money;
  • The name of the user;
  • The name of the beneficiary name;
  • The payment reference number.

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