What should users do when, starting from January 1, 2025, banking apps no longer remember passwords?

Mobile Banking apps will no longer allow the feature to remember login passwords, but there are still ways to log in conveniently and securely.

According to Circular 50/2024/TT-NHNN, from January 1, 2025, banking apps will no longer support the password memory feature. This regulation is intended to enhance security for users when using online banking services.

Removing the password memory feature will help reduce the risk of information leaks or password theft, thereby increasing account safety for customers.

Customers conducting transactions on the banking app.

To comply with this requirement, payment service providers and intermediaries will need to verify customer information when they access the Mobile Banking app for the first time or on a new device. This verification will include OTP confirmation via SMS, Voice OTP, or other methods such as Soft OTP or Token OTP, through the phone number registered by the customer.

In some specific cases, biometric information such as fingerprints or facial recognition may be required to verify the customer's identity, in accordance with Article 11, Clause 5 of the Circular.

Additionally, banks must implement technical solutions to detect and prevent unauthorized interference with Mobile Banking apps installed on customers' devices.

These regulations are considered an important step in protecting users from the growing risks of cybercrime, particularly information theft, asset theft, or online fraud.

However, many users, especially the elderly or those with limited technological knowledge, still maintain the habit of saving their bank app passwords.

In an interview with Lao Động newspaper, a TPBank representative stated that customers can still use modern login methods such as FaceID or TouchID to access the banking app, instead of entering traditional passwords. These methods are not only more secure but also more convenient for online transactions.

"With the TPBank app, users are already accustomed to using the FaceID/TouchID of their devices to log in instead of entering a password. Customers can log in with their face or fingerprint on the device, rather than having to remember and enter a password for each transaction. In case customers forget their password or need to use one, they can use the most advanced biometric technology available," said the bank's representative.