Are "offline" passbook accounts safer?

PeacefulWaters

Paul_1977 wrote: »

No, I want to find out if I were to use a passbook how safe the money would be.

I don't like online accounts.

Very safe.

If somebody pinches it the bank or building society will reimburse you.

Archi_Bald

PeacefulWaters wrote: »

Very safe.

If somebody pinches it the bank or building society will reimburse you.

Just in the same way as when someone pinches your online access credentials, the bank will reimburse you if someone pinches the credentials.

You would have to convince the bank or building society that you didn't give your passbook or your online credentials to the person who withdrew money from your account.

PeacefulWaters wrote: »

Are you planning some sort of fraud?

agree, the mind boggles.

Paul_1977

Archi_Bald wrote: »

Just in the same way as when someone pinches your online access credentials, the bank will reimburse you if someone pinches the credentials.

You would have to convince the bank or building society that you didn't give your passbook or your online credentials to the person who withdrew money from your account.

agree, the mind boggles.

The mind boggles at what? a simpel question.:silenced:

Paul_1977

anoncol wrote: »

Then don't register it.

I assume you are only my age yet so technophobe.

No actually, I was born long after 77, I am much younger than you.

Paul_1977

You need ID to withdraw money, and the passbook.

But if you lose the passbook, you can get a replacement with just ID.

So in other words you just need ID.

I conclude its safer than an online account, as you need to be there in person to withdraw money and ID.

DCFC79

Paul_1977 wrote: »

No, I want to find out if I were to use a passbook how safe the money would be.

I don't like online accounts.

What's wrong with online accounts ?

Loads of people have them.

Paul_1977

DCFC79 wrote: »

What's wrong with online accounts ?

Loads of people have them.

Nothing, but I prefer to have a book, and like that things have to be done in person.

Old fashioned.

SnowTiger

Paul_1977 wrote: »

Nothing, but I prefer to have a book, and like that things have to be done in person.

Old fashioned.

Fair enough.

What's the point of this thread? To convince yourself you're right?

You prefer to use a passbook

You're old fashioned and like doing things that way.

How much as we talking here? £100 in a passbook account paying interest of 0.1% a year?

CKhalvashi

Archi_Bald wrote: »

Just in the same way as when someone pinches your online access credentials, the bank will reimburse you if someone pinches the credentials.

The bank probably wouldn't give the money to start with, especially if it's a large/unusual withdrawl.

You would have to convince the bank or building society that you didn't give your passbook or your online credentials to the person who withdrew money from your account.

agree, the mind boggles.

From the above example, I'd done an address change and ordered a savings book as a result of a letter received from Nationwide few years ago. Guess which order they did it in, resulting to the book going to an address I hadn't resided for about 6 years......

Someone tried to withdraw the balance by cheque, which was gazumped by my popping into branch few hours before asking where the book was, as it hadn't arrived (about 2 weeks later). NW asked for ID from this individual (which couldn't be provided) and they never got the money.

It wasn't a lot of money (I'd actually asked for the book to move it elsewhere), but that's not the point.

pmduk

Personally I'd not want to lose the convenience of online banking for a slight perceived risk of additional security of a passbook.