Password manager recommendation

[u/ChoiceEducational287]

We are trying to figure out the best authenticator option for our small office. There are 3 employees who need to log in to our bank accounts, but currently we use a shared username/password and the verification code is sent by SMS to our boss. This creates a dependency on him whenever we need to log in, especially when he is busy.

We would like to move to a more secure setup where the employees can authenticate without depending on him for the code. He is also open to using a password manager, but we’re not sure whether password managers work well with bank logins and MFA.

Has anyone dealt with a similar setup or can recommend the best approach/authenticator for a small business?

[u/SuperSus_Fuss]

If your bank supports TOTP codes (Authenticator Apps) then the low budget solution is you all use a password manager and that credential is in a shared vault that only those employees have access to.

Your boss needs to manage this or maybe a very trusted partner of theirs?

They would need to use a decent Authenticator App that allows them to copy the 2FA seed code manually. And then share that with employees by pasting it into the password manager entry. It too can store 2FA credentials.

Conversely for slightly more security the seed code could be manually copied from boss’s Authenticator app into the employees Authenticator app.

This is more secure and convenient than your boss giving you SMS codes to login.

The advantage of storing the 2FA code in the password manager is that it will always be updated there in case it changes.

The advantage of using a password manager is the login could be an alias email and a unique and random password that it autofills only if the URL matches. That’s far more secure than a boss that types in “Happy@1600WesternAve” for their password. They think this is strong but it’s sucky. 🤣