Originally Posted by
Lussac
In February this type of problem was brought home to us as we have a similar two-stage verification process for access to our UK bank, as it happens we needed access to the account urgently but found that somehow we had lost our UK SIMS when they were changed over to the NZ Spark SIM so couldn't get access to the account until new SIMS had been sent from the UK, this in itself was a problem as the telco refused to send them anywhere but the registered address so extra time was lost getting them sent then forwarded, in all it took 4 weeks to get it sorted out.
In this case your SIM serves as your keyfob essentially. Lose a fob and the service provider will need you to complete additional verification before they send you a new one, and very unlikely to send them overseas.
We can't use biometric authentication for everything.
P.S. HK banks are almost certainly going to require HK branch visit to replace a fob. No you cannot visit their Australian branches in lieu even if they have one (e.g. HSBC)