Dynamic password, also known as one-time password or PIN (OTP), is a security mechanism, designed to reduce static password-related fraud and abuse when using banking software. To that end, for certain banking operations, instead of using a static password, a temporary one-time password is generated and delivered to you either through text message or an application which can be applied within 120 seconds to carry out the banking operation.
Different types of MEB dynamic passwords
Middle East Bank offers three types of dynamic passwords/PINs:
1) Dynamic PIN as the card second PIN (for internet shopping, payment of utility bills and card-to-card transfer via mobile banking or internet banking),
2) Dynamic PIN for internet banking transactions,
3) Dynamic passcode for logging into internet banking.
• Dynamic PIN for internet banking transactions and dynamic card second PIN can be generated via MEB OTP mobile app.
To install and activate MEB OTP mobile app
1) Download and install iOS or Android version of MEB OTP app using the links below.
2) Obtain the application registration PIN by visiting a branch or through internet banking and log in.
3) Activate the app using the code sent to you via text message.
4) Choose a password for the app.
a)Dynamic PIN as the card second PIN (PIN2)
This PIN is used for all card-not-present transactions, such as utility bills payment, online shopping and card-to-card transfer via mobile banking or internet banking. Since 10, Dey 1398 (December, 30, 2019) dynamic second PIN is required to perform most card-not-present transactions.
• Please note that the static second PIN can only be used to make transactions to a maximum of 1,000,000 Rials per day.
This dynamic PIN2 is available in two ways:
1) Via MEB OTP application After activation, the app works everywhere around the world while connected to the Internet.
2) Via text message The dynamic PIN2 can be obtained through text message, for online shopping or payments.
To get the PIN2 via text message, you should visit a branch or MEB ATM or use internet banking, to designate the mobile phone number on which you would like to receive the PIN2. (Due to restrictions on text messaging, this option only works within Iran)
Receiving dynamic PIN as the card second PIN via MEB OTP app
1) Log in to MEB OTP application
2) Go to “Card PIN2" tab
3) Activate the desired card or cards
4) press “Get OTP” below the desired card
5) Enter the PIN into the associated portal
b) Dynamic PIN for internet banking transactions
•This PIN is required for making or confirming transactions in internet banking, exceeding the default amount (200 million Rials for personal internet banking and 500 million Rials for corporate internet banking)
• To receive dynamic PIN for internet banking transactions, first you need to visit a branch and define whether you would like to receive the PIN by text messages or via mobile app.
• You can request to make dynamic PINS mandatory for all your transactions in Internet banking regardless of the amount by visiting an MEB branch.
The PIN can be obtained in two ways:
1) Via MEB OTP application After activation, the app works everywhere around the world and internet banking transaction PINs can be generated even without internet connection.
2) Via text messaging(Due to restrictions on text messaging, this option only works within Iran)
Receiving dynamic PIN for internet banking transactions:
1- log in to the MEB OTP application
2- Go to “IB Transaction PIN” tab
3- Press “activating IB Dynamic Transaction Pin” button if your using the app for the first time.
4- Enter the seed number displayed in internet banking and press “generate Password”
5- Use the generated PIN in internet banking to carry out the transaction.
c) Dynamic passcode for logging into internet banking
This passcode is a part of two-factor authentication mechanism for logging into internet banking which is only available via text message.(Due to restrictions on text messaging, this option only works within Iran)
1) You can request to receive internet banking login onetime passcodes by visiting an MEB branch and filling in the application form.
2) A onetime passcode will be sent to your phone number every time you log in to internet banking using your username and password.
• Internet connection is required to activate MEB OTP mobile app and Downloading the iOS version is only possible from within Iran.