It is not true that all banks in EU require that. I actually thought that SMS as 2nd factor for Banking is not allowed in EU anymore. All the serious banks th

It is not true that all banks in EU require that. I actually thought that SMS as 2nd factor for Banking is not allowed in EU anymore. All the serious banks that I know of offer asynchronous password tokens (like Digipass), since not everyone trusts those mobile apps, or they simply don't own a smartphone. They don't advertise it too much, since it is easier for the bank to get everyone to use an app, but most of them offer it. If they don't, you should consider changing your bank.