What is MFA and how does it work?

Multi-factor Authentication (MFA), sometimes also referred to as Second-factor Authentication or 2FA, is an additional layer of security designed to prevent unauthorized access to your account and other data within NerdWallet.

MFA relies on two forms of authentication, something you know and something you have, to verify your identity. The thing you know is your password. The thing you have with you can be a mobile device or token. This means that if your password is hacked, your account will remain secure.

How do I set up MFA for my NerdWallet account?

If you have not been prompted to enroll in MFA and would like to, login to your NerdWallet Account and refer to our how-to guide.

What are my MFA options? 

You will be able to select a single authentication method when you enroll in MFA, which you can change or update at any time. 

Current options:

• Third Party Authentication App - An example would be the Google Authentication app. The authenticator app will generate a verification code that updates every 30 seconds. You will be asked to enter the most current verification code within NerdWallet’s MFA verification screen. 
  
  
• SMS - A text message with a 6-digit code is sent to your mobile device that you will input to complete the authentication process. 

What’s the difference between the TransUnion SMS and MFA? 

TransUnion has its own SMS verification method that is required to link and share your account data with NerdWallet. NerdWallet’s MFA SMS method is an additional layer of security that is separate from TransUnion’s SMS verification method.

Can I enroll in more than one MFA method?

At this time users can only have one active MFA method at a time and will need to choose between using SMS or a One-Time Passcode.

How do I remove or change my existing MFA method?

If you need to remove or change your existing MFA method please refer to our how-to guide

How do I remove an old phone number and add a new phone number as an MFA method?

If you need to remove or change your existing MFA factor method please refer to our how-to guide

What if I lose or replace my phone and have a new phone number? 

If you lose or replace your device or have a new number and haven't already set up MFA from another device, the associated NerdWallet account will need to be closed so you can set up a new one and re-enroll. To request that your account be closed, please contact our support team at support@nerdwallet.com or by using the support request form.