In a digital world where everyone has an online presence and shops and pays online, cybercrime is a growing concern for most people. One way to protect yourself from online fraud is to use TAN procedures for transfers and online payments.
There are different types of TAN procedures, each with its own advantages and disadvantages. Some are meant for one-time signups, while others are better for recurring transactions. Some require separate hardware, while others use software for your mobile device.
The following explains the different types of TAN procedures, how they work and what advantages and disadvantages they have. This will help you decide which is best for your needs and add an extra level of security to your online transactions.
Everything you need to know about TAN procedures
Today, it is impossible to imagine the modern banking world without TAN procedures. They are an indispensable part of any online transaction. With the help of TAN procedures, customers can carry out their transactions securely and quickly without having to worry about possible fraud attempts.
There are different types of TAN procedures, including the iTAN, SMS-TAN, photoTAN and mobileTAN procedures. The iTAN method involves the user receiving a list of transaction numbers that can then be used for a particular transaction. The SMS TAN method involves sending an SMS to the customer containing a TAN that can be used for the corresponding transaction.
The photoTAN procedure is the latest method, where the user takes a photo of a QR code on the screen using an app on their smartphone. This app then generates a TAN that the user can use. The mobileTAN method is similar, but the TAN is generated by an app on the smartphone and sent to the customer.
- iTAN procedure
- SMS TAN procedure
- photoTAN procedure
- mobileTAN procedure
As you can see, there are many different TAN procedures available. Each method has its own advantages and disadvantages. It is important to familiarize yourself with each method in order to choose the best one for your needs. Regardless of which method you choose, you can be sure that it will provide a secure and fast way to conduct online transactions.
The different types of TAN procedure
TAN procedures are extremely common these days when it comes to online banking security. They are used to authenticate the user and are mostly used for transactions and to access certain functions. However, there are different types of TAN procedures. Each type of procedure has its advantages and disadvantages that need to be considered.
- The classic TAN: This type of TAN is sent by mail and is requested for every transaction. A tried and tested method, but also a rather cumbersome variant.
- The iTAN: Similar to the classic TAN, but slightly more insecure due to the use of paper lists.
- The mTAN: Here, the TAN is sent to the user’s cell phone via SMS. Fast and convenient, but not as secure as other methods.
Another variant is the ChipTAN. For this purpose, the user receives a small device on which he enters the transfer details. The ChipTAN generator then generates a TAN, which in turn is used to secure the transaction. This method is very secure, but also relatively complex and expensive. But it is becoming more and more popular nowadays, as it is almost safe from phishing attacks and online fraud.
Which one you ultimately choose depends on a number of factors. It is usually advisable to combine several procedures to ensure maximum security.
TAN procedures at a glance
There are various TAN procedures used in the online banking world. All of them have in common that they serve as additional security when transferring money or other financial transactions. We will now take a closer look at the most common TAN procedures.
1. SMS-TAN
This TAN is sent to your cell phone via SMS. You then enter this number on the online banking page to authorize the transaction.
2. Chip-TAN
With this variant, you receive a generator from the banking institution. This generator shows you the TAN on a chip, which you can then use to confirm your transfer.
3. App-TAN
There are also apps that you can use to generate a TAN. You need your smartphone or tablet for this.
4. Photo-TAN
Here you use your smartphone camera to scan a QR code. This generates the TAN, which can be used for authorization purposes.
In summary, each TAN procedure provides an additional layer of protection to reduce misuse in online banking. However, you should always consult with your banking institution to ensure which TAN method is best for you.
Advantages and disadvantages of the TAN procedures
TAN procedures have become essential for online banking and other transactions on the Internet. There are different types of TAN procedures, such as the iTAN procedure, the SMS TAN procedure or even the ChipTAN procedure. Each type of TAN procedure has its own advantages and disadvantages.
- The iTAN procedure is one of the oldest procedures. The advantage is that the TAN numbers are on a list and can be used without connecting to the Internet. However, the procedure also does not provide sufficient security, as the TAN numbers can easily be intercepted.
- The SMS TAN procedure is very popular and easy to use. The TAN numbers are sent to the cell phone via SMS. One disadvantage is that there may be delays in delivery. In addition, the cell phone can be stolen, which could give third parties access to the TAN numbers.
The ChipTAN procedure is one of the most secure TAN procedures. Here, the TAN number is generated using a device connected to the bank card. A bank card is required to carry out a transaction. This method offers the highest level of security, but it is also the most complex TAN method.
- Conclusion: each TAN method has its advantages and disadvantages. It is important to choose the right procedure for yourself and to make sure that you have sufficient security precautions in place.
Which TAN procedure is the most secure?
A transaction number or TAN is required for many banking transactions today and gives customers the additional security that no unauthorized person can access their account. In addition to the classic TAN procedures such as the TAN list or the iTAN procedure, there are now also modern procedures such as the mTAN procedure and the ChipTAN procedure. But which TAN procedure is actually the most secure??
The first thing to say is that every TAN method has security risks and no method is absolutely safe. However, there are differences in the security of the various methods. The TAN list, for example, is quite insecure because the TANs are already on the list beforehand and can be stolen. The iTAN procedure is considered to be somewhat more secure, because a new TAN is generated each time.
- The mTAN, on the other hand, is considered to be quite secure because the TAN is sent to the customer’s cell phone via SMS and only the customer has access to the TAN.
- Even more secure is the ChipTAN procedure, in which a TAN is generated via a reader and thus no transmission takes place via the Internet.
In the end, however, it always comes down to the customer’s commitment and responsibility. Because even the most secure TAN procedure is of no use if the customer carelessly passes on his access data or keeps his TAN list unsecured.