Yes, Selfwealth support two-factor authentication (2FA) for all client accounts.
What is two-factor authentication?
Two-factor authentication (2FA) is an extra layer of security for your Selfwealth account designed to prevent unauthorised access by requiring authentication from an additional device (your phone).
It requires a code from an authenticator app, on top of your standard login details, for you to be able to access your account. Examples of authenticator apps include Google Authenticator and Microsoft Authenticator.
How do you activate 2FA?
You can activate 2FA from the Selfwealth website. Note that 2FA cannot be activated from the mobile app, but once this is done via the website the mobile app will prompt for 2FA.
- Log into the Selfwealth website at secure.selfwealth.com.au
- Click Settings
- Once on the settings page, navigate to the Personal Details tab across the top of the page under the Settings title
- Under your password, you will find a button called Enable 2FA
- Follow the prompts, noting down your recovery codes in a safe place. You will need to have your authenticator app ready to scan a QR code that will be displayed on the screen
Once activated, you will be required to use the 2FA code to access your account along with your standard login details. You will also need to re-enter your login details into your Selfwealth app after activating 2FA.
Why does Selfwealth use an app instead of SMS?
App authentication is regarded as a more secure method than SMS authentication, as it leverages advanced encryption to ensure that only someone with access to your specific authenticator device can access your account.
What if I lose access to my authenticator device?
During the setup process, you will be provided with a set of recovery codes. These can be stored in a safe place (either written or digitally) so that you can recover your account if you lose access to your authenticator device.
If you don't have your codes, don't panic! Simply reach out to us via live chat or email with your account details ready and we can assist in recovering your account.