New method explains a method of how the two factor authentication implemented using SMS OTP or Email OTP generated by Smartphone One Time Password and image based authentication to secure user accounts during transactions. As talking about the secured bank login over here so we need to consider and include some factors which can secure the bank account login process. So what is that system is going to do here, encrypt the passwords? Yes that could be the only thing we can do to save our lives from the hackers who try hacking our bank accounts. So now the question is how exactly and appropriately System going to do this? In market we have many security systems for online banking transactions. But many of these system has lots of limitations which are as follows: Actual password sending to mail: If server send password on mail id and if any person know your mail credential then he can access your password. So less security is there in existing system. Permanent storage of passwords in Database: Password comes from server send into database so if one person knows that password then he can use it for future transactions No usage of Cryptography techniques: IN existing systems there is no use of cryptography. In market there are some other security systems for online transactions such as OTP and MOTP, but these systems do not have enhancement in securities .So we are going to enhancement the MOTP security by providing multiple passwords to any transaction. Some of the other technologies available to cater the same problem.