2FA stands for 'Two-Factor Authentication'. It's a security system that requires two distinct forms of identification in order to access your online account. It is usually a combination of two of the following:
- Something you know (your password)
- Something you have (such as a text with a code sent to your smartphone or other device, or a smartphone authenticator app)
- Something you are (biometrics using your fingerprint, face, or retina)
It's designed to prevent unauthorised users from gaining access to an account with nothing more than a stolen password.
If you enable 2FA, you will need your password and an authentication device to log into your CurrencyTransfer's account.
Useful tip: Although it's not mandatory to set up 2FA on your account, it is a good idea to enable it to reduce the risks of being hacked. On top of providing you peace of mind, it ensures only you have access to your account.