These days, there are more ways to bank than ever. You can do it online or by using apps on your smartphone, but whatever happened to the good old-fashioned phone call?
For years before I set up my online banking, I used to trudge down to Barclays on my lunch break for everything from paying rent to transferring money.
And what a pain it was! Eventually, the inconvenience made me get into gear and get savvy with online banking. However, on the odd occasion, I still find it handy to be able to ring my bank.
Safety over time-saving
You might have a question about your bank account that can’t be answered online, or you might just want to speak to a real person. I usually call the bank because I’m not at a computer, or because I can’t find my card reader to access online banking. But it’s important to remember there’s a significant proportion of people that aren’t able to get online, or don’t want to, for that matter.
While online banking often requires a card reader or small key pad to generate a unique security code, telephone banking relies on pre-set up telephone banking passwords or codes. If you haven’t got your codes or if you’ve forgotten them, you can end up answering a series of questions to prove you’re really you.
The whole process with online or telephone banking can be annoying for the customer, as they face a long test to get past the numerous security measures. But are you willing to jump through all those hoops to keep your bank accounts safe and secure?
More importantly, do you think your telephone banking security measures go far enough? For example, when you go through security questions with your bank over the phone, do you think it would be easy for a potential fraudster to answer them in your place?