I have to go through many steps to login into my bank account - company code, user code, user PIN, security token password, code '1" and security token key.
When I make a payment, I have to approve it. The bank sends a "challenge" by SMS to my mobile phone. I have to convert the challenge to another number using their security token - enter the security password, code '3', enter the challenge and retrieve the converted number to enter into the DBS website.
If they allow me to enter the "challenge" directly without converting it into another number, I don't mind. But they insist on imposing the maximum hassle for their customers - for the dubious purpose of "enhanced security".
It is fashionable for Singaporeans to get for maximum security and zero defect without regard to cost and inconvenience. They are proud of this mindset. But, tell you what. The head of DBS information strategy is not from Singapore. He came from India. This type of "foreign talent" fits well in the Singapore environment.
I have raised this ridiculous process with DBS several times over the past years. They don't care. They stop acknowledging my feedback. I am sure that DBS is extremely proud of their ridiculous token. It is shown here.