mTAN / smsTAN
mTAN stands for “mobileTAN” and is often also called “SMS-TAN” or “mobile TAN”.
With this method, the TAN is sent to the user’s cell phone via SMS.
For a long time, the procedure was considered practical, user-friendly and secure, as two separate devices are used to generate TANs.
In the meantime, a number of risks have become known: However, because this method is so popular, hackers have made it their goal to crack this method, which they have succeeded in doing in numerous cases.
Read more Dangers
How the mTAN procedure works
To be able to use this procedure, the user needs a PC and a cell phone with SMS function and must deposit the cell phone number with their bank.
After the user has entered the transfer data, he receives a TAN by SMS, which is only valid for a few minutes and only for this one transfer. Once the TAN has been entered in the specified field, the transaction is completed.
Costs
With some banks the SMS is sent free of charge, with some banks it costs a few cents, with other banks it only costs a few cents after the 5th transfer.
Advantages of the mTAN procedure
- Simple: almost everyone has a cell phone with an SMS function these days.
- Secure: The TANs are only valid for a limited time and can only be used once for the specified transaction.
- Current: The TANs are not stored and no activation of new follow-up lists is necessary.
- Flexible: The cell phone is usually nearby and can therefore be reached from anywhere to make transfers.
- Convenient: No extra device or list is required.
- Independent: Controllable: Check possible by displaying the transfer data
- Secure: TAN generation with two separate devices and transaction entry, display and confirmation independent of the PC
