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Q.

What is Transaction Password

Tags: money, password, computers & internet
Asked by Somalavenky Raju, 01 Sep '12 01:40 pm
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Answers (4)

1.

Transaction authentication number, TAN or T.A.N. is used by some online banking services as a form of single use one-time passwords to authorize financial transactions. TANs are a second layer of security above and beyond the traditional single-password authentication.

TANs are believed to provide additional security because they act as a form of two-factor authentication. Should the physical document or token containing the TANs be stolen, it will be of little use without the password; conversely, if the login data are obtained, no transactions can be performed without a valid TAN.
Answered by anil garg, 01 Sep '12 03:00 pm

 
  
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2.

Whenever a online /net banking transaction happens,a random password appears ,its proof of the transaction..so that later u can track it down easily.
Answered by peeping tom, 01 Sep '12 05:20 pm

 
  
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3.

A bank provides and id and two pass words - one for checking accounts etc and another for sending money through e- transaction. The second pass word is transaction pass word.
Answered by Arakuzha Ramachandran, 01 Sep '12 03:02 pm

 
  
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4.

Axis Bank
Answered by anantharaman, 01 Sep '12 01:41 pm

 
  
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Login password is to access/view your account and details online whereas txn password is to do some transaction like transfer funds....more

Answered by nitin grover