What are TAN lists?
We are on a journey into the past. When online banking was still new in the world of the Internet. The TAN list was one of the first two-factor procedures.
The customer received lists of TANs from banks, but each TAN could only be used once. After receiving this TAN list, the customer had to enter a TAN corresponding to this list for each transfer.
Advantages of the TAN list:
- Inexpensive, favorable
- Simple
Disadvantages of the TAN list:
- Backward user experience
- Moderate security
The procedure is no longer in use. The lists were abolished on September 14, 2019 with the publication of the Payment Services Directive (PSD2).
The procedure was not very secure, the fraudsters only needed any TAN from the list and the access data, then access was granted. So it’s no wonder that this procedure was abolished.
