How does the Online Security Device Security Code work?
The Online Security Device generates a time-sensitive, single-use six digit Security Code for you to use when logging on to Internet Banking and for selected online transactions. The Security Code is generated by an algorithm based on time within the Online Security Device. Each Online Security Device has a matching file, stored securely in a database at HSBC, with the matching algorithm. When you activate your Online Security Device, HSBC identifies which Device you have by asking you to enter the serial number. The serial number has no security value; it is simply a means of identifying to the Bank which Device a customer has. Once activated, a Device becomes unique to the PBN it was activated with. When you are using Internet Banking and are required to enter a Security Code, the system compares the entered Code with the expected Code within the file. If they match, you are granted access. If they do not match, you will be asked to re-enter the Security Code.
