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Bank Security
April 21, 2016
3:22 pm
jagga
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I have noticed that banks do not allow the same functionality on the ATM machine as they do online. For example the ATM is the most secure form of banking yet you cannot perform transfers from account to account. But you can perform this function through your computer why? Is their monitoring being performed when logged into a bank web site?

All functions performed on a online computer should be duplicated through an ATM machine for the simple reason that the ATM machine is more secure.sf-confused

April 21, 2016
5:46 pm
SavingIsGood
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I do not think there is a limit moving $ from account to account while withdrawing from ATM is limited.

How about somebody cares your ribs with a little knife and politely asks you to move $50K from your to his account at ATM. Little bit different than taking only your daily limit...

April 21, 2016
6:34 pm
Schrodinger's Ape
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Well, like online transfers, you would only be allowed to send to pre-authorized accounts with your name on them.

Pretty much everyone has a banking app on their phone. In principle, someone could hold you at knife point and force you to send them an Interac e-transfer. Add in a little identity theft to keep their name from being tied to the receiving account, and they could easily take you for a small fortune.

I think I watch too much CSI Cyber...

April 21, 2016
9:32 pm
AltaRed
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Except there are limitations on individual Interac e-transfers, daily liimits, weekly limits and monthly limits. Transactions under duress would likely be single or daily limits.

I agree there can be excessive paranoia about movements of money. It's not small change of course to most people but its also not devastating amounts.

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