Another way is to use a handheld readerwith the chip card to generate a different password you must enter on the keyboard for every online banking session or payment.
Having a second factor like this in addition to the password makes online banking much more secure. It is like when you make an ATM withdrawal or a chip and PIN purchase, because you need both an ATM/payment card and a PIN code. Bankers call this "two-factor" authentication. One factor is something you know, the PIN, and the second factor is something you have, the chip card. The small computer in the chip card provides the digital security. Even if someone steals your password, say by phishing or a keyboard logger spyware program, they cannot access your account because they do not have this device.