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

myself01

Hils0912 said:

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....

Does that means that without setting up someone as a new payee, you can't transfer money into their account? I know for very small amounts I can do that. For example, if I want to pay a friend a small amount of money, it allows me to do that. At the end of the transaction I get asked by the mobile banking app, do you want to save this as a payee for next time? Fyi, I use Barclays.

quirkydeptless

Sea_Shell said:

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.

Hmm, I'm going have to start dressing down when I go to shopping 

Takmon

myself01 said:

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. 

I have accounts with many many different banks due to moving money around to get the best interest, cashback and various switching rewards. I could easily log into several of them which now have a very small balance and show that i have no real amount of money to give them. They wouldn't know what other accounts that i have so would have no reason not to believe me plus the largest percentage of my money is kept in investments and they certainly won't have me at gunpoint long enough for the week+ withdrawal times. 

Sea_Shell

My "main" bank account currently has 92p in it.

Unless you're targeted, specifically, for your finances, it still probably easier to demand their phone, watch, jewellery or car keys.

My family would kidnap me for the ransom money if they knew...

Shakin_Steve

Every time I log in I think "What a ridiculous post, surely the silliest ever". But no, next time I log in........😕

myself01

annabanana82 said:

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

Thanks for your reply. I agree the risk of this happening in UK is quite low. And I am not paranoid about it .. rather just wanted to see people's opinion on a point which came up in general chat with some friends, and nobody had a clear answer for. But I like the idea of keeping some money in premium bonds .. never thought about that. Thanks for the suggestion.

JosephK

My nervous Aunty Nelly avoids the possibility of such events by spending her life hiding under the bed.