Strong Customer Authentication

From September 2019, all banks have introduced extra security measures to improve the checks already in place to protect your money. You may hear this referenced as Strong Customer Authentication (SCA).

Here’s a guide to explain what this means for you and your Aldermore account.

What is the new regulation and why is it being introduced?

The aim of the new SCA regulation is to strengthen security when you’re shopping and banking online. You’ll be asked to confirm your identity more often, either via a code in a text message or letter or by using your fingerprint on your mobile device.

The process is made up of three stages:

  • Request – You open an account or request a change that involves moving money
  • Verification – You’ll be sent a unique code
  • Authentication – You enter the code and this validates that it’s you making the request

The changes give you extra protection against fraud and scams by making sure it's you who’s using your details, and not someone pretending to be you. You should remember to keep your contact details up to date, so that your bank or building society can always reach you.

In the future you’ll benefit from a quicker service using instant code verification through SMS and your mobile device. If we don’t have an up to date mobile phone contact number stored on your account you can add this in Internet Banking, so that this service will be available for you.

How does this impact my Aldermore personal savings account?

We’ve added an additional layer of security to protect the money you’re saving with us and your personal details. This’ll be triggered when you first open your account and when you ask to change your nominated bank account.

What does this mean for new customers?

When you open your first Aldermore personal savings account, you’ll need to give us your nominated account details (the account you want any money withdrawn from your savings account to go to) as part of the online application. When your account is open, we’ll send you a separate letter with a unique authentication code. You’ll need to enter this code in internet banking to validate your nominated account.

You can make deposits before your account is validated, but we won’t allow any withdrawals to the nominated account until the unique code has been entered. This makes sure that your money stays secure.

Existing customers

There’s no change to how you access your account. You’ll still log into your account with your Customer ID, password and selected characters from your memorable details. The change we’ve made only affects when you request a change to your nominated account in internet banking.

When you ask to send money to a different nominated account we’ll send you a unique authentication code through the post. You’ll need to enter this authentication code in internet banking before we’ll update your details and allow withdrawals to the new nominated account. You can still make deposits while your new nominated account is being validated.

Keeping your data and money safe

We know you’ve worked hard for your money and trust us to look after it. Keeping your data and money safe is our priority and we’re always on the lookout for threats from fraudsters.

Read more about some of the ways we protect you.

Our guides can help you learn how to better protect yourself from fraud and stay safe online.  We’ve also joined forces with Take Five, led by Financial Fraud Action UK, which aims to offer advice to help everyone protect themselves from the risk of fraud.