What is a Soft Token app and why does the bank ask for it? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is a Soft Token app and why does the bank ask for it?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

It is a separate app (or one built into the bank's main app) that generates a one-time password (OTP) which changes every 30 or 60 seconds. It is a mandatory security measure imposed by the Central Bank of Egypt (CBE) to confirm any transfer of money outside your own accounts, so that your money cannot be stolen.

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