Multifactor Authentication

WyHy Federal Credit Union is providing every member with added account protection that is available 24 hours a day, seven days a week to ensure a more secure online banking experience. With the free new identity verification feature, we’ll monitor for uncharacteristic or unusual behavior involving your account. If something out of the ordinary is detected, you will be asked to verify your identity.

As we roll out the new security features to our members, you will be asked to enter additional information including a unique user name and password for each account as well as to select several security questions that only you know the answers to at some point while you are banking online. If unusual or uncharacteristic activity is detected, we will ask you to answer those security questions. It’s that simple. Most of the time you won’t even notice the added security features but they will be protecting your accounts.

It is important to remember to share the answers to the security questions you choose with those you have given access to your accounts. You will also need to keep those people up to date if you change the information during the course of your relationship with WyHy.

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Frequently Asked Questions

Questions

Why is my online banking experience changing?
What is this new security system?
How do I sign up for the new security system?
How much will it cost?
What is the purpose of the e-stamp?
When will I be asked for more information?
What addition information will I be asked?
What is unusual or uncharacteristic behavior?
How are you able to detect unusual or uncharacteristic behavior?
Will I be asked for more information all the time now?
How do I know it is working?
Is my personal information safe?
How will this help prevent online fraud?
I check my account very often, wouldn’t I know if something unusual showed up on my account?
I already have anti-virus software and a personal firewall. Whey do I need this?
Why is WyHy offering this new security program?

And the answers

Why is my online banking experience changing?
In order to make you online banking experience as secure as possible, we are introducing a new security feature. Most of the time your online banking experience will be the same as it was before, only now you will have an extra layer of security working behind-the-scenes to protect your account. The new security may-very infrequently-prompt you to verify your identity before continuing. This means you can now bank online with a renewed sense of confidence.

What is this new security system?
As our member, we know how you typically behave: what types of transactions you conduct, when and from where. If we detect any activity that does not seem like your typical behavior, we will prompt you to further verify your identity – so that we can ensure it is you and not a fraudster attempting to compromise your account. This will only happen on rare occasions. Normally you will not be asked for any additional information. For example, if someone tries to sign in with your user name and password from a computer in a foreign country shortly after you have logged off from your normal computer at home, we may decide to verify that it is really you trying to access your account.

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How do I sign up for the new security system?
Expect to be prompted at some point while banking online to enter additional information. You will need to select a unique user name and password rather than your account number and PIN that is currently used. In addition, you will choose several security questions that only you, or someone designated by you, will know the answers to. Once this occurs you have added a layer of protection to your account!

How much will it cost?
There is absolutely no cost associated with the new security system.

What is the purpose of the e-stamp?
The purpose of the e-stamp is to allow you to identify on a personal level that you have accessed WyHy’s online banking site. When you set up your security levels, you will select a phrase and image that are unique to you. You will need to remember the phrase and image so that you can verify when you access WyHy’s online banking site that you are entering the correct site with the appropriate security protections. If you do not see your phrase/image when accessing the site, do not continue your banking transaction and notify WyHy as soon as possible.

When will I be asked for more information?
You will only be prompted to enter additional information when a particular activity or transactions appears to be unusual or uncharacteristic of your typical behavior.

What addition information will I be asked?
If any unusual or uncharacteristic behavior is detected you will be asked to answer several of the security questions you questions.

What is unusual or uncharacteristic behavior?
Uncharacteristic or unusual behavior is anything that appears out-of-the-ordinary compared to how you normally would bank online and where you normally bank online. If the action being requested does not appear to be something you would normally do, we will ask you for more information to make sure it is really you and not an unauthorized user.

How are you able to detect unusual or uncharacteristic behavior?
The security system takes into account factors such as the type of transactions you ordinarily perform, the computers you typically use to access your account, or the typical security settings for your computer. Hundreds of factors, such as these, create a profile that is unique to you that allows us to make decisions about whether the person conducting a given activity and transaction within your account appears to be really you.

Will I be asked for more information all the time now?
No, you will only be asked for more information when unusual or uncharacteristic behavior is detected. This will most likely be a very rare occurrence.

How do I know it is working?
You only need to complete the set-up process once; afterwards the new security system will work automatically. That means you are being protected every moment-when you are online and more importantly when you are not. Occasionally you will see this symbol to remind you that you are being protected:

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Is my personal information safe?
Yes. In fact, your personal information is safer than ever before because we are making sure it is really you and not an unauthorized user trying to access your information.

How will this help prevent online fraud?
If your user name and password are stolen, the fraudster would have to be able to answer your security questions correctly before being able to access your account or complete a fraudulent transaction. If the user is unable to provide this information, the activity would be blocked. This added layer of security helps us protect your online account at all times.

I check my account very often, wouldn’t I know if something unusual showed up on my account?
It is great you check your account! It is always a good idea to regularly monitor your account for any unusual activity (like payments you didn’t make). This security service helps prevent those incidences from ever occurring, so when you check your account everything is exactly how it should be.

I already have anti-virus software and a personal firewall. Whey do I need this?
We are glad to hear you use anti-virus software and a personal firewall. Be sure that you keep both software programs up-to-date for the best possible protection against viruses, Trojans, and hackers. This new security feature protects against other kinds of threats such as stolen user name and password. It works with your other personal security programs, but does not replace them.

Why is WyHy offering this new security program?
The Federal Financial Institutions Examination Council (FFIEC) has mandated that all financial institutions increase the level of user authentication on their online banking programs by the end of 2006. WyHy has elected to not only comply with these new guidelines but to provide added protections for our members. In the wake of increasing identity theft threats, this new security system will help to ensure our members are protected when conducting banking transactions online.

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