There aren't many things easier these days than making transfers through online banking. Two-factor authentication, introduced long ago, guarantees the necessary level of security. However, banks also offer other processes, for example when dealing with small amounts of money.
Online banking: this is how it works without TAN
The TAN-free transfer procedure is quite unusual in the modern banking landscape, as this security measure is used to protect against unauthorized transactions and to verify the user's identity in online banking. However, there are some special situations or services in which transfers can be made without explicitly entering a TAN. These include, as Sparkasse Bielefeld explains, among others:
Small amounts: Some banks allow the transfer of small amounts without TAN. The limit for this is usually set low to minimize risk. Additionally, after multiple transactions or when a set total limit is reached, the corresponding number is requested. The counter is then reset to zero.
Selected accounts: Some banks allow their customers to create a list of IBANs that are excluded from TAN sending. Often the prerequisite is that the account numbers are German and that the daily limit set for online banking is not exceeded.
Own accounts: It is not necessary to enter a TAN for transfers between your own accounts (for example, checking, savings or current account). The prerequisite for this is that the account holder is always identical and that the accounts are in the same bank.
That is why experts warn against this type of online banking
“As practical as this function is, we recommend that our customers use it carefully and think carefully for which recipient accounts such a permanent exemption really makes sense,” Sparkasse Bielefeld explains in detail.
It is advisable to “leave the function” and always use a TAN procedure for transfers. According to the Federal Information Security Office (BSI), Sparkasse continues, it is even better to always use two devices. This is especially true when it comes to banking through an app. Currently, the safest approach to online banking is to use a TAN generator.
Source: Sparkasse Bielefeld
By Dana Neumann