HSBC Bermuda is giving its retail banking customers security devices that will display one-time passwords for online banking, according to reports.

The island subsidiary of HSBC Group (formerly The Bank of Bermuda Limited) recently sent out letters to customers announcing the delivery of the keychain sized fobs, according to Bernews, a website covering Bermudian news.

Those devices are now being mailed out to bank customers.

The fobs won't be necessity to log into online banking, however. Bernews said bank customers that haven't yet received their device can still log into HSBC Bermuda's online banking portal using their current credentials.