[dotancohen]

What do they reply when you tell them you do not own a smartphone?

Even if you do own such a device, they don't need to know that.

[Telaneo]

They give you a hardware token that spits out some numbers and use that as your second factor instead. Usually after a lot more fiddling than a TOTP app would be.

Or they don't and tell you to use a different bank.