SeABank leads the way in deposit protection with security codes, strengthening financial safety for customers

Amid the rapid growth of digital banking, online savings are becoming a preferred choice thanks to their convenience and flexibility. With just a few taps on SeAMobile – the e-banking app of Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB), customers can easily open online savings accounts, proactively choose term deposit, monitor interest rates, and manage their accounts anytime, anywhere. This fast and transparent experience is driving the shift from traditional savings to digital savings.

However, alongside this convenience comes an increasing need for enhanced security to mitigate risks such as compromised login credentials or OTPs, malicious app installations, and phishing links. In response, SeABank has developed and introduced the “Security Code for Online Deposits” feature, a multi-layered protection solution that provides customers with complete peace of mind for their online savings.

Accordingly, upon activating the feature, customers will set up an unique security code to protect their savings account. This code is known only to the account holder and is required to withdraw funds or close the saving account. Even in the event of unauthorized access, the savings remain secure without the correct security code.

This marks a significant advancement, as for the first time in Vietnam, a bank empowers customers to proactively protect their deposits through a personalized security mechanism.
In addition to the Security Code for Online Deposits feature, SeABank also applies biometric authentication for withdrawals or the closure of online savings accounts. This combination creates a “dual-layer technology” approach, enhancing protection against financial security risks in the digital environment.

The feature is also designed with flexibility throughout the lifecycle of each deposit. For savings accounts set to automatically renew both principal and interest, the security mechanism remains in place without any change to the security code. In cases where the deposit is not renewed, the feature will automatically expire on the maturity date, and customers will receive the full principal and interest in accordance with applicable terms.

To ensure a seamless customer experience, SeABank has also established a support mechanism in case customers forget their security code. Specifically, customers can visit any SeABank branch for identity verification and prompt assistance. In addition, the hotline 1900 555 587 is always available to receive and address inquiries, ensuring timely support in all situations.

By pioneering the implementation of the “Security Code for Online Deposits” feature, SeABank not only enhances safety standards but also reinforces its customer-centric approach, empowering customers to proactively control and protect their assets in the digital banking era.