Fidelity login security

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investor4life
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Joined: Fri Oct 08, 2010 9:45 am

Fidelity login security

Post by investor4life » Sat Feb 09, 2019 1:28 pm

The Security Center in my Fidelity account (click on Profile at the top and scroll down) shows two options for 2FA: the usual random numeric code sent by text and the Symantec VIP app. I have had the Symantec option turned on for a while and am now being presented with the option to turn on the other one as well (they don't seem to be mutually exclusive options). I'm confused as to why this is so---I thought that the Symantec option was more secure anyway.

Also, there is a Lockdown feature to prevent unauthorized movement of money out of the account. If this is turned on, do I have to turn it off each time I want to move funds out?

I could call Fido to check on this but figured I'd tap the collective wisdom/experience here first.

Thanks!

JBTX
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Re: Fidelity login security

Post by JBTX » Sat Feb 09, 2019 2:00 pm

I think the vip app is for login. Text may be for other types of 2fa verification. Vip app works well and is more secure than text.

I am on lockdown, but I never pulled money out since doing that. I'd assume you have to unlock down before pulling money out.

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TheTimeLord
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Re: Fidelity login security

Post by TheTimeLord » Sat Feb 09, 2019 2:05 pm

JBTX wrote:
Sat Feb 09, 2019 2:00 pm
I think the vip app is for login. Text may be for other types of 2fa verification. Vip app works well and is more secure than text.

I am on lockdown, but I never pulled money out since doing that. I'd assume you have to unlock down before pulling money out.
What is this feature and how does it work? I can guess by the name what it does.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]

JBTX
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Re: Fidelity login security

Post by JBTX » Sat Feb 09, 2019 2:08 pm

TheTimeLord wrote:
Sat Feb 09, 2019 2:05 pm
JBTX wrote:
Sat Feb 09, 2019 2:00 pm
I think the vip app is for login. Text may be for other types of 2fa verification. Vip app works well and is more secure than text.

I am on lockdown, but I never pulled money out since doing that. I'd assume you have to unlock down before pulling money out.
What is this feature and how does it work? I can guess by the name what it does.
It is called lockdown and presumably it disallows withdrawals, which in theory would reduce chance of a fraudulent withdrawal. I don't know the security steps involved to unlock. I just saw the option and did it. Figure it can't hurt. I've never talked to anybody about it.

ladycat
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Re: Fidelity login security

Post by ladycat » Sat Feb 09, 2019 2:23 pm

If you click on the Lockdown button, you get a page that explains what is and is not affected.
You can also choose which account are locked down.

If you want to move funds out of your account, you need to turn lockdown off. It sounds like you might need to confirm the change via a code sent to your phone. It says "make sure your account profile has your up-to-date phone numbers on file."

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HueyLD
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Re: Fidelity login security

Post by HueyLD » Sat Feb 09, 2019 6:11 pm

investor4life wrote:
Sat Feb 09, 2019 1:28 pm
The Security Center in my Fidelity account (click on Profile at the top and scroll down) shows two options for 2FA: the usual random numeric code sent by text and the Symantec VIP app. I have had the Symantec option turned on for a while and am now being presented with the option to turn on the other one as well (they don't seem to be mutually exclusive options). I'm confused as to why this is so---I thought that the Symantec option was more secure anyway.

Also, there is a Lockdown feature to prevent unauthorized movement of money out of the account. If this is turned on, do I have to turn it off each time I want to move funds out?

I could call Fido to check on this but figured I'd tap the collective wisdom/experience here first.

Thanks!
VIP access is an app (token) that can only be installed in one device. That's why you still need the other 2FA for other devices you may use to access your account.

And the lockdown feature is very useful when you are going to be out of town for a while.

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TheTimeLord
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Re: Fidelity login security

Post by TheTimeLord » Sat Feb 09, 2019 8:02 pm

HueyLD wrote:
Sat Feb 09, 2019 6:11 pm
investor4life wrote:
Sat Feb 09, 2019 1:28 pm
The Security Center in my Fidelity account (click on Profile at the top and scroll down) shows two options for 2FA: the usual random numeric code sent by text and the Symantec VIP app. I have had the Symantec option turned on for a while and am now being presented with the option to turn on the other one as well (they don't seem to be mutually exclusive options). I'm confused as to why this is so---I thought that the Symantec option was more secure anyway.

Also, there is a Lockdown feature to prevent unauthorized movement of money out of the account. If this is turned on, do I have to turn it off each time I want to move funds out?

I could call Fido to check on this but figured I'd tap the collective wisdom/experience here first.

Thanks!
VIP access is an app (token) that can only be installed in one device. That's why you still need the other 2FA for other devices you may use to access your account.

And the lockdown feature is very useful when you are going to be out of town for a while.
I think you only need it installed on one device then enter the code to the logon on any device.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]

Luckywon
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Re: Fidelity login security

Post by Luckywon » Sat Feb 09, 2019 9:01 pm

ladycat wrote:
Sat Feb 09, 2019 2:23 pm
If you click on the Lockdown button, you get a page that explains what is and is not affected.
You can also choose which account are locked down.

If you want to move funds out of your account, you need to turn lockdown off. It sounds like you might need to confirm the change via a code sent to your phone. It says "make sure your account profile has your up-to-date phone numbers on file."
I use something similar at Etrade called "no funds out". Any withdrawals or transfers out are blocked until my identity is verified and I lift the restriction. The verification is by phone.

ladycat
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Re: Fidelity login security

Post by ladycat » Sat Feb 09, 2019 9:27 pm

TheTimeLord wrote:
Sat Feb 09, 2019 8:02 pm
HueyLD wrote:
Sat Feb 09, 2019 6:11 pm
investor4life wrote:
Sat Feb 09, 2019 1:28 pm
The Security Center in my Fidelity account (click on Profile at the top and scroll down) shows two options for 2FA: the usual random numeric code sent by text and the Symantec VIP app. I have had the Symantec option turned on for a while and am now being presented with the option to turn on the other one as well (they don't seem to be mutually exclusive options). I'm confused as to why this is so---I thought that the Symantec option was more secure anyway.

Also, there is a Lockdown feature to prevent unauthorized movement of money out of the account. If this is turned on, do I have to turn it off each time I want to move funds out?

I could call Fido to check on this but figured I'd tap the collective wisdom/experience here first.

Thanks!
VIP access is an app (token) that can only be installed in one device. That's why you still need the other 2FA for other devices you may use to access your account.

And the lockdown feature is very useful when you are going to be out of town for a while.
I think you only need it installed on one device then enter the code to the logon on any device.
Yes. I can generate the VIP Access code on my computer and use it to log in using a different computer.

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HueyLD
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Re: Fidelity login security

Post by HueyLD » Sun Feb 10, 2019 6:45 am

I didn’t write very clearly. What I meant to say was: since the VIP token can only be installed on one device, one may need another 2FA access method if that device is not readily available. For example, the token is installed on an iMac at home and you are out of town.

Hockey10
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Location: Philadelphia suburbs

Re: Fidelity login security

Post by Hockey10 » Sun Feb 10, 2019 9:23 am

I have the VIP Access token installed on my phone, which is always with me wherever I go, so I can in theory log into my Fidelity account from any location. However, in practice, I have only logged into Fidelity from my home computer. I don't even have the Fidelity app installed on my phone.

I just signed up for the lockdown feature yesterday. I rarely transfer money out of Fidelity, so it seems like a reasonable safety precaution.

testing321
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Location: kansas city

Re: Fidelity login security

Post by testing321 » Thu Aug 22, 2019 4:17 pm

I just got an email about this option. But if someone hacked your account login in order to send money out, they could just turnoff lockdown. What's the point?

ladycat
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Re: Fidelity login security

Post by ladycat » Thu Aug 22, 2019 4:26 pm

testing321 wrote:
Thu Aug 22, 2019 4:17 pm
I just got an email about this option. But if someone hacked your account login in order to send money out, they could just turnoff lockdown. What's the point?
When I turn lockdown on/off, I receive an email alerting me to the change. If someone hacked my account, they'd have to change my alerts or email address to prevent me from getting the lockdown change notification. And I'd get an alert about those changes. It may not be perfect, but it's another layer of possible protection that would prompt me to call Fido immediately.

testing321
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Location: kansas city

Re: Fidelity login security

Post by testing321 » Thu Aug 22, 2019 4:28 pm

ladycat wrote:
Thu Aug 22, 2019 4:26 pm
testing321 wrote:
Thu Aug 22, 2019 4:17 pm
I just got an email about this option. But if someone hacked your account login in order to send money out, they could just turnoff lockdown. What's the point?
When I turn lockdown on/off, I receive an email alerting me to the change. If someone hacked my account, they'd have to change my alerts & email address, which I'd also be informed about. It may not be perfect, but it's another layer of possible protection that would prompt me to call Fido immediately.
But when ever money is transferred, I get an email. So two email instead of one? There are a whole bunch of terms to agree to when locking down. Maybe that's the benefit.
Last edited by testing321 on Thu Aug 22, 2019 4:29 pm, edited 1 time in total.

mervinj7
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Re: Fidelity login security

Post by mervinj7 » Thu Aug 22, 2019 4:29 pm

testing321 wrote:
Thu Aug 22, 2019 4:17 pm
I just got an email about this option. But if someone hacked your account login in order to send money out, they could just turnoff lockdown. What's the point?
You should also enable 2FA to be extra secure.
https://www.fidelity.com/security/how-t ... tion-works

Ferdinand2014
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Re: Fidelity login security

Post by Ferdinand2014 » Thu Aug 22, 2019 4:30 pm

investor4life wrote:
Sat Feb 09, 2019 1:28 pm
The Security Center in my Fidelity account (click on Profile at the top and scroll down) shows two options for 2FA: the usual random numeric code sent by text and the Symantec VIP app. I have had the Symantec option turned on for a while and am now being presented with the option to turn on the other one as well (they don't seem to be mutually exclusive options). I'm confused as to why this is so---I thought that the Symantec option was more secure anyway.

Also, there is a Lockdown feature to prevent unauthorized movement of money out of the account. If this is turned on, do I have to turn it off each time I want to move funds out?


Yes. However, you can pick and choose which accounts to lockdown

I could call Fido to check on this but figured I'd tap the collective wisdom/experience here first.

Thanks!
“You only find out who is swimming naked when the tide goes out.“ — Warren Buffett

ladycat
Posts: 231
Joined: Fri Sep 28, 2018 5:02 pm

Re: Fidelity login security

Post by ladycat » Thu Aug 22, 2019 4:41 pm

testing321 wrote:
Thu Aug 22, 2019 4:28 pm
ladycat wrote:
Thu Aug 22, 2019 4:26 pm
testing321 wrote:
Thu Aug 22, 2019 4:17 pm
I just got an email about this option. But if someone hacked your account login in order to send money out, they could just turnoff lockdown. What's the point?
When I turn lockdown on/off, I receive an email alerting me to the change. If someone hacked my account, they'd have to change my alerts & email address, which I'd also be informed about. It may not be perfect, but it's another layer of possible protection that would prompt me to call Fido immediately.
But when ever money is transferred, I get an email. So two email instead of one? There are a whole bunch of terms to agree to when locking down. Maybe that's the benefit.
I have lockdown "on" for all accounts, and only turn it off when I do the annual RMD to move money from IRAs into brokerage. Maybe its a false sense of security, but it gives me the warm fuzzies to hope the accounts are better protected.

testing321
Posts: 189
Joined: Sat Oct 25, 2014 6:46 pm
Location: kansas city

Re: Fidelity login security

Post by testing321 » Thu Aug 22, 2019 4:48 pm

ladycat wrote:
Thu Aug 22, 2019 4:41 pm
I have lockdown "on" for all accounts, and only turn it off when I do the annual RMD to move money from IRAs into brokerage. Maybe its a false sense of security, but it gives me the warm fuzzies to hope the accounts are better protected.
I'm trying to get the warm fuzzies, but I don't see ANY benefit to lockdown.

RetiredAL
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Location: SF Bay Area

Re: Fidelity login security

Post by RetiredAL » Thu Aug 22, 2019 6:52 pm

testing321 wrote:
Thu Aug 22, 2019 4:48 pm
ladycat wrote:
Thu Aug 22, 2019 4:41 pm
I have lockdown "on" for all accounts, and only turn it off when I do the annual RMD to move money from IRAs into brokerage. Maybe its a false sense of security, but it gives me the warm fuzzies to hope the accounts are better protected.
I'm trying to get the warm fuzzies, but I don't see ANY benefit to lockdown.
Like testing321, I too feel there is little if any benefit. Adequate controls already exist.

If anything relating to your account changes, such logon, mailing address, email, external bank accounts, ECT, besides notifying to the old email and old postal mail address that a change occurred, they will block transfers. Thus someone posing as you cannot create a new bank transfer and at the same time transfer $ from your account to this new transfer point.

I have seen this at both Fidelity and Schwab.

Other places have controls too. At USAA several years back, I could not online transfer $60,000 to a long existing bank account. I had to call them and explain to them the nature of the transfer. Once satisfied the money was for a legitimate use, they moved the money that day. There was an online limit of $50,000. When my wife worked at a bank, they routinely questioned people making large cash withdrawals as to why, to make sure they were not getting scammed.

These kinds of controls are in place to protect both you and the institution.

BuddyJet
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Re: Fidelity login security

Post by BuddyJet » Thu Aug 22, 2019 7:04 pm

testing321 wrote:
Thu Aug 22, 2019 4:48 pm
ladycat wrote:
Thu Aug 22, 2019 4:41 pm
I have lockdown "on" for all accounts, and only turn it off when I do the annual RMD to move money from IRAs into brokerage. Maybe its a false sense of security, but it gives me the warm fuzzies to hope the accounts are better protected.
I'm trying to get the warm fuzzies, but I don't see ANY benefit to lockdown.
Biggest lockdown protection is if you have checking available on the account, it prevents funds being withdrawn via ACH pull. All a crook needs is a check with your routing and account number.

ladycat
Posts: 231
Joined: Fri Sep 28, 2018 5:02 pm

Re: Fidelity login security

Post by ladycat » Thu Aug 22, 2019 7:50 pm

BuddyJet wrote:
Thu Aug 22, 2019 7:04 pm
testing321 wrote:
Thu Aug 22, 2019 4:48 pm
ladycat wrote:
Thu Aug 22, 2019 4:41 pm
I have lockdown "on" for all accounts, and only turn it off when I do the annual RMD to move money from IRAs into brokerage. Maybe its a false sense of security, but it gives me the warm fuzzies to hope the accounts are better protected.
I'm trying to get the warm fuzzies, but I don't see ANY benefit to lockdown.
Biggest lockdown protection is if you have checking available on the account, it prevents funds being withdrawn via ACH pull. All a crook needs is a check with your routing and account number.
That's an interesting point. I don't have checking available on Fidelity accounts. Even on my daily checking/savings at the local credit union I had them disable overdraft protection for the reason you mentioned.

jsaver
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Re: Fidelity login security

Post by jsaver » Thu Aug 22, 2019 7:57 pm

VIP access is an app (token) that can only be installed in one device.
With https://github.com/dlenski/python-vipaccess you can create a token and then use whatever TOTP app you want. Authy can sync tokens across multiple devices.

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