A One-Time Password (OTP) is a temporary, unique code used to verify identity during logins or transactions. Your OTP is a digital key that, along with your password, provides a strong layer of protection for your transactions.
OTPs are highly sensitive, they must remain private. If shared or compromised, fraudsters can gain access to your account or funds. Remember, Fidelity Bank will never ask you for your OTP.
How Fraudsters Try to Steal Your OTP
- Phishing Calls: Impersonating bank staff with urgent requests.
- Fake SMS/Emails: Pretending to be from Fidelity.
- SIM Swap: Transferring your number to another SIM card.
- Malware: Stealing OTPs from your device.
Safe OTP Practices
Do’s
- Verify before you Trust: Check that the OTP request matches the transaction you initiated.
- Protect Your Phone Number: Use a SIM PIN and report lost/stolen phones immediately.
- Use it and delete it: OTPs are single-use, time-sensitive (2-5 mins). Do not save or screenshot them.
- Explore Secure Alternatives: Consider an authenticator app (e.g., Google Authenticator) when available.
Don’ts
- Read OTPs aloud over the phone.
- Forward OTPs via email or chat.
- Use an OTP you didn’t request.
- Share OTPs to “reverse fraud” or “upgrade your account.”
Quick Response Guide
If you have Shared an OTP by mistake, follow the recommended steps below:
- Call Fidelity Bank immediately: 070034335489
- Freeze affected accounts.
- Change your banking password.
- Contact your mobile network provider.
- Monitor account activity closely.
Remember, treat your OTP like your ATM PIN—keep it secret.
To report suspicious emails with an OTP you didn’t request, forward such emails to [email protected]
