Two-Factor Authentication | Knowledge Base

Why should I enable two-factor authentication (2FA)?

Two-Factor authentication (2FA) confirms you have two forms of identification to access your account. Using two-factor authentication ensures the security of your account against potential threats.

Last updated on Sep 17, 2024

Why are backup codes required?

As an additional layer of security for your account, you will be asked to create backup codes. In the event you are unable to access your phone or authenticator app, you can log into WealthRabbit by providing one of your backup codes. Please store your codes in a secure location for additional security. Additionally, you can use a backup code as a key to regain access to your phone number and an authenticator app code for two-factor authentication (2FA).

Last updated on Sep 17, 2024

When will the backup codes expire?

Each of the downloaded backup codes expires after one successful sign-in. Please use the backup codes only if you are unable to access your phone number or authenticator app.

Last updated on Sep 17, 2024

What if I lose the downloaded backup codes?

If you lose your downloaded backup codes, you can try logging into your WealthRabbit account using your phone number or authenticator app to download the backup codes again. However, if you completely lose access to your account through your phone number, authenticator app, and backup codes, then you need to contact our dedicated support team at [email protected] for further assistance.

Last updated on Sep 17, 2024

Are there any alternative ways to sign into my account if I cannot use the authenticator app?

Yes, you can use your phone number or a backup code to sign into your account if you cannot access the authenticator app. Note: Since each backup code expires after a successful login, WealthRabbit recommends using them only if you lose access to both the phone number and the authenticator app.

Last updated on Sep 17, 2024

What is two-factor authentication and how does it work?

Two factor authentication adds an additional layer of security to your WealthRabbit account. Also, the IRS mandates all software providers to offer two-factor authentication or multi-factor authentication for all users to protect their account from illicit activities. When signing into your account with two-factor authentication enabled, you are required to provide two forms of identification. First, you must enter your password as usual. Following that, you will be prompted to enter a randomly generated 6-digit code from your phone number or authentication app. If you lose access to both, you can use the backup codes to log in to your account. Two-factor authentication increases the security of your account by preventing unauthorized individuals from gaining access to your account, even if they have managed to obtain your password through hacking or other illicit means. For step-by-step instructions on enabling two-factor authentication for your account, click here.

Last updated on Sep 17, 2024

How can I enable two-factor authentication?

Two-factor authentication adds an extra layer of security to your WealthRabbit account, ensuring it remains secure even if the password is exposed. At WealthRabbit, you can enable two-factor authentication (2FA) via phone number and authenticator app. Follow the below steps to enable two-factor authentication via phone number and an authenticator app. Step 1: Upon signing up your WealthRabbit account, you will see an option to enable two-factor authentication (2FA). Click ‘Setup’ to enable 2FA via your phone number. Step 2: Click ‘Get Code’ to receive the verification code to the phone number you provided when you set up your account. You can also edit your account recovery phone number on this page. Step 3: Enter the verification code sent to your phone number. Click ‘Verify’ upon entering the verification code. Step 4: Click ‘Next’ to proceed with the authenticator app. You also have another opportunity to change your account recovery phone number. Step 5: Click ‘Setup’ under the ‘Authenticator App’ option to enable two-factor authentication. ** Step 6:** Scan the provided QR code to get the 6-digit verification code. You can also get this code by manually entering the ‘secret key’ in your authenticator app. The generated code is valid for 30 seconds, make sure to enter the code before it expires. If it expires, enter a newly generated code to proceed. Then, click ‘Verify’ upon entering the verification code. Step 7: Click ‘Next’ after successful verification via the authenticator app. You will now land on the page where you can get the backup codes. Click on the reveal codes and download the codes to keep them secure for future use.

Last updated on Sep 23, 2024

How to remove the authenticator setup for two-factor authentication (2FA)?

Two-Factor Authentication provides an additional layer of security for your account. If you remove the authenticator setup, added protection will be reduced. Follow the steps below if you still want to proceed with removing the authenticator setup. Note: You’ll have only the phone number verification if you remove the authenticator setup for two-factor authentication. Step 1: After signing on to the account, click the ‘My Profile’ option located on the left side menu. Step 2: Within ‘My Profile’ settings, you can find an option to manage Two-factor authentication. Click on the right-sided arrow to proceed. Step 3: Then, you’ll land on the page where you can click ‘Remove’ to remove the authenticator setup for two-factor authentication. Step 4: For security reasons, WealthRabbit will ask you to confirm removing the authenticator app by entering your account password. Click ‘Remove’ upon providing the account password. The authenticator setup is now removed from your account, and you can re-enable it at any time if you need.

Last updated on Sep 23, 2024

How to change my phone number used for 2FA?

Follow the steps below to change your updated phone number for two-factor authentication. Step 1: After signing on to the account, click the ‘My Profile’ option located on the left side menu. Step 2: In the ‘My Profile’ settings, you can find an option to manage two-factor authentication. Click on the right sided arrow to proceed. Step 3: Click the 'Change' option located beside the phone number to update it. Step 4: For security reasons, WealthRabbit will ask you to confirm your request to change the phone number by entering your account password. Click ‘Change’ upon providing the account password. Step 5: Enter the new phone number that you want to use and click ‘Get Code’ for verification. Step 6: Enter the 6-digit verification code sent to your new phone number and click ‘Verify’. Upon successful verification, your phone number will be updated and you can use the new phone number for future logins.

Last updated on Sep 23, 2024