|Diamond Internet Banking FAQs|
Diamond Online is our Internet Banking Service which allows 24/7 access to your account from the Convenience of your home, office or any location all over the world. To use this service, all you need is an internet enabled phone, PC or laptop lPC
Most of the transactions carried out in the banking hall can be carried out via Diamond Online.
This service is automatic for all new customers. Existing customers can register for this service by:
All your accounts can be viewed using one sign-on request provided you indicate which accounts you want to view when filling the request form.
The new Diamond Online is very safe as it has different levels of authorization that ensure your banking transactions and information remains private. The service utilizes your Username and password to provide secure access to the account and a second (and higher) level of protection by using a onetime passcode(OTP) for sensitive transactions that require an extra level of security such as interbank funds transfers, Bill payments, etc.
This onetime passcode (OTP) is dynamic in the sense that it is an auto generated pass code which is generated on demand by the account user for the execution of sensitive transactions and rendered invalid once used. This significantly reduces the possibility of the pass code falling into the wrong hands.
A onetime passcode (OTP) is an automatically generated numeric passcode that enables a user the ability to transact with his online account? Onetime passcodes (OTPs) are required only for highly sensitive transactions such as beneficiary maintenance, interbank transfers, etc.
An OTP can be derived in any of the following three ways
1. System generated OTP
2. Software token
3. Hard ware
System Generated onetime passcode (OTPs).The most basic of the three. It does not require the use of hardware or software tokens. Customers can just click on the request pass-code button every time they need a higher level of authentication. The pass-code will then be automatically generated via the system and sent as an SMS to the customer’s phone. Thereafter the customer can insert the 6- digit code he receives in the space provided.
Software tokens can be generated via an application which can be installed on Java enabled mobile phones. The application does not make use of the mobile network and does not require mobile network coverage. The application generates and provides you with the 6- digit code you need to insert to transact with.
This is a small mobile device (key holder- size), which is used to generate a onetime passcode (OTP) to enable you carry out transactions requiring a higher level of authentication
Retail Customers: As a retail customer, you are automatically enabled to generate your onetime passcode (OTPs) via the system by clicking on the Request Passcode Link; However retail customers have the option of using either the Hardware or Software token for onetime passcode (OTP) generation but not both.
Corporate Customers: By default all corporate customers are required to use the hardware tokens for onetime passcode (OTP) generation.
The onetime passcode (OTP) will expire if not used within 3 minutes. In this case, you may be required to generate another one-time-pass code.
The lower authentication mode allows you carry out basic transactions, which have little or no risk to you. This requires the basic Diamond Online username and password to operate.
On the other hand, in the higher authentication mode, you would require an extra secure pass-code to carry out highly sensitive transactions
Transactions that can be done on the different modes on Diamond Online
Normal authentication mode
Higher Authentication mode
View Account Summary
Booking and amending of term deposit
Money transfer to walk in customers
Instant funds transfer
Funds transfer to own account
Log in with token option for both retail and corporate customers
Funds transfer to all maintained beneficiary/billing companies
Cheque book request
Stop Cheque or Card (Credit and Debit) request
Retail Customers: As a retail customer, you have a maximum transfer limit of One Million (1,000,000) Naira daily
Corporate Customers: There is no daily maximum transfer limit for you as a corporate customer