The bank will either assign a temporary password to the customers or allow them to choose their own. The security feature is designed to allow customers to do change their temporary password to a permanent one. They can also add security questions to their account that only that will have the answers to. Customers have full access to their online banking account 24 hours a day and 7 days per week. If they forget their password the built in feature will allow them to reset their password or retrieve their previous one. In any case writing down the password and security questions that are associated with an account is probably a great idea.
The bank security feature also includes capturing a computer IP address once the user access their website. They are to catch a lot of hackers through the use of this technique. That can pinpoint if it is the same person that is trying to access a particular account or is it someone else. Even though, the user or account owner can log into their account from any internet connection they choose, they must still answer their security questions. Customers are encouraged to make their passwords and security questions easy for them to remember but hard for someone else to guess. Device Identification
They can choose from a list of pre set questions, that the banks already have in their database. Some questions are personal, asking your birthdate or spouse's name, and some may ask for the name of your first teacher or employer. In any case, it should be a question that the customer can answer with any second thoughts. Most banks are very specific how they want their customers to input their passwords. They usually tell customers to use a mixture of lower, and uppercase letters along with at least one number. Some systems will allow the user to choose special characters which is good for combination passwords.