Best options to protect money in your bank if robbed at knife/gunpoint

myself01

What is the best way to keep your hard-earned money safe in banks

With the ease of online banking and mobile banking, if you get robbed at knife/gunpoint and the robber forced you to log into mobile banking app and tried to transfer the money out from your bank accounts, into their bank accounts.

I am assuming, in such cases the bank would not be much helpful as they would see this as a transfer done by us.
Are there any FCA or Govt rules that can protect people in this situation? 

A friend suggested that we should keep spare money in other bank accounts and not have then online banking enabled (i.e. phone banking or in-branch banking accessible only).This way, when you are forced to log into the online banking app, or website .. the other accounts won't be visible.

Is this doable? What other strategies can we follow in advance to protect ourselves from such a scenario?

Thanks. 

strawb_shortcake

That actual scenario I hadn't considered. Our emergency savings are held in an account without online access at my Husbands suggestion. 
We do have max premium bonds which are accessible online but I think I can only withdraw to my account and it would take 48 hours. I think if I was held hostage for 3 days then that would be considered a serious police matter and would take precedent over the bank not compensating you. 
With what would be considered small gain in the grand scheme of things the risk of this happening would be quite low

phillw

You can have online, just don't have the mobile bank app and bookmarks on your pc (you could consider making sure the bank doesn't show up in your history).

jonesMUFCforever

OP your last post was 8 years ago - I wonder if your post today is a bit close to home? Did you get caught LOL?

eskbanker

myself01 said:

What other strategies can we follow in advance to protect ourselves from such a scenario?

Avoid reading and believing scaremongering stories in the likes of the Daily Mail perhaps?

Voyager2002

Simple. My mobile is always turned off, and without a passcode you cannot see its 'desktop' nor know what apps are installed. In a high-stress situation such as a robbery I would be unable to remember the passcode, and would probably drop and break the 'phone anyway.

JustAnotherSaver

Voyager2002 said:

Simple. My mobile is always turned off, and without a passcode you cannot see its 'desktop' nor know what apps are installed. In a high-stress situation such as a robbery I would be unable to remember the passcode, and would probably drop and break the 'phone anyway.

You’ve just wasted my time. 

*boom*. Dead.

IvanOpinion

Voyager2002 said:

Simple. My mobile is always turned off, and without a passcode you cannot see its 'desktop' nor know what apps are installed. In a high-stress situation such as a robbery I would be unable to remember the passcode, and would probably drop and break the 'phone anyway.

Honestly, that has to be one of the worst strategies you could come up with.  Given the scenario as outlined your strategy could very easily cost someone their life, or result in life changing injuries.  Most people can be made to remember their passcode very very easily by increasing the stress.  Once you break your phone then you and anyone else you may be protecting are of absolutely no further use and have made yourself disposable.

Most phones are unlocked using a finger print these days.  Before you say that you do not use a fingerprint, you might find that the person you are dealing with would want to test all 10 fingers to make sure you are telling the truth - whether or not rest of your body was attached is irrelevant.

In any such situation the best solution is to find a way of extricating yourself and others with the minimal of damage and loss.  This would require a degree of co-operation.

myself01

jonesMUFCforever said:

OP your last post was 8 years ago - I wonder if your post today is a bit close to home? Did you get caught LOL?

Haha.. Actually I am an avid followed of MSE and Martin's updated, and matters of personal financial in general. I am also an admin for a FB group where we help people keep aware of matters related to personal finance, and also help them with finding answers to any questions on personal finance topics.

This topic came up during a discussion .. and I was not sure what to think as this had never occurred to me. Then I asked some people around and nobody had a clue on what to do in this scenario .. so I remembered of this forum ask asked here.

Thanks.

Sea_Shell

Don't look or act like someone who's got money and it's unlikely you'll be targeted.   Keep your wealth under the radar.

Hils0912

You would have to set them up as a new Payee, then you would have their name and bank details.  Surely they wouldn't be that daft  Mind you....