top of page
  • Writer's pictureSteve Coker, CFP

Using Schwab Two-Factor Authentication

For the past several weeks we have focused on Cybersecurity and how to best protect your identity and accounts. In this article, we will focus on “Two-Factor Authentication” to better protect your Schwab account. Two-Factor Authentication means that access to your Schwab account will be guarded by a password and a second factor such as a one-time password or fingerprint. This helps protect your account even if your password is stolen, and it works. Symantec estimates that 80% of security breaches could have been prevented using Two-Factor Authentication.

While Two-Factor Authentication sounds complex, the process is quite simple. Here is how you get started:

  1. Download the Symantec VIP Access app for iPhone or Android

  2. Call Schwab at 800.435.4000 to enroll in Two-Factor Authentication. When you call Schwab, you’ll need to provide the unique identification number of your Symantec app.

  3. Once you are enrolled you will add the unique, 6-digit code to the end of your password. For example, if your login id is “Sam” and your password is “greeneggs,” you would also need to open your VIP Access app on your phone for a unique id. We’ll use ‘123456’ in our example, but the code will change every 30 seconds. When you go to the Schwab website your new login credentials will be:

Login Id: Sam

Password: greeneggs123456

Once you’ve turned on Two-Factor Authentication, you can feel more secure knowing that your password alone will not be enough to access your account. Of course, if that worst case does occur, know that Schwab provides an online security guarantee that says, “Schwab will cover 100% of any losses in any of your Schwab accounts due to unauthorized activity.” You can learn more about Schwab’s security guarantee and Two-Factor Authentication on the Schwab website:

Join our mailing list and

never miss an update

bottom of page