NAB ups security on internet banking

National Australia Bank has introduced a combined daily Internet Banking transfer limit for customers who have not registered for their SMS authentification system of $2,500. The limit and SMS authentification will not apply to payments made to recognized billers where money can't be withdrawn, such as telcos and utlilities. The limits will apply to BPay payments made to credit cards. Nab also offer a password lock feature for customers who use public computers to access their accounts. Prior to logging off from the banking site, the customer voluntarily locks their password. It can then not be used again, until it is reactivated via telephone banking. Nab has joined other banks, notably ANZ, in increasing the monitoring of internet transactions.

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