Current Account less secure than savings?

praxisizer

Old_Wrinkly wrote: »

Yes. An incompetent member of staff.

I could imagine that some fraction of frauds depend in some way on transactions taking place with some minimum frequency or regularity. That would make some fraud techniques inapplicable to most savings accounts. Not saying it's true -- does anybody have hard data?

rb10

praxisizer wrote: »

I could imagine that some fraction of frauds depend in some way on transactions taking place with some minimum frequency or regularity. That would make some fraud techniques inapplicable to most savings accounts. Not saying it's true -- does anybody have hard data?

I think it's more to do with the types of access available.

Fraud over internet banking or in bank branches - the most common ways of accessing savings accounts - is rare.

Fraud far more commonly occurs through debit cards (whether or not the card is used or not - they can generate enough random numbers until one is actually a correct card).

However, what you say is probably true to an extent - an account that is used more frequently will be more vulnerable. But even if a current account was never used, the fact that a debit card exists for that account still means that fraud could occur.