Note that the bank's 2FA (eg online banking login) is different to a credit/debit card's 2FA (VISA, Mastercard).
When you use a card for an online purchase on a website configured to force 2FA on purchases (some do this to prevent CC fraud) I believe your only option is SMS. I was told by my bank that this was enforced by VISA and Mastercard, they could not change it.
I know that Macquarie bank uses TOTP for authorizing transactions. However, they only support TOTP via their own app and you can't use your own (eg Aegis, Authy or Google Authenticator). I don't know if they have telephone banking as I never need that service.
You say that "its use is not contingent on the use of an app; 2FA seeds are freely exportable by the user via web login". Care to elaborate on that? I'm not sure I'm understanding correctly what you're trying to say.
You got it actually. I want the 2FA seed exportable so I can use my own app for 2FA login. Transaction authorisation I'm agnostic on (TOTP or SMS code).
Forcing reliance on an in-house app is user-hostile.
Yeah. I don't understand the point of wasting resources to create and maintain separate app rather using an open standard and let users choose their fav 2fa app.
The telephone banking for most are trash. Never forget your account and every detail about it or you'll end up spending 5 hours waiting to be verified in person.
Combank, Unibank (and i assume teach mut, fire and nurses, etc) and NAB do not have TOTP.
HSBC phone banking is excellent. It feels like they are racing to pick your phone call once you go through a few options. Used it for 3 years now and not even once I was disappointed
HSBC app is lacking behind, yet by default, online purchases are confirmed by SMS for new merchants, larger price or if they detects something odd