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Strange way of handling forgotten password

Çağlar Arlı      -    37 Views

Strange way of handling forgotten password

I was about to signup for ebanking solution, but then noticed their instructions for forgotten password are: Create a new account.

So there's no option to reset your password, just a suggestion to create a new account. No mention of what happens with the old account.

My concern is - does this hint at insecure or flawed app design? Would I be better off not to sign up? Is there any reason why password reset would be handled this way?