Current Events > Man robbed at knifepoint and forced to transfer live savings

(+) Yeah! (+)

https://www.reddit.com/r/UKPersonalFinance/comments/1ceha6s/monzo_and_their_procedures_for_robbery/

This is my worst nightmare, short of a terminal disease. Makes me want to delete my banking apps.

I'd be like just fucking stab me

They'd be fucked cause I'm old school as fuck. I don't have banking apps on my phone. Worst they could do is force me to draw 500 from a atm.

And even that I'd likely get shot cause my dumb ass will argue.

Sufferedphoenix posted...

They'd be fucked cause I'm old school as fuck. I don't have banking apps on my phone. Worst they could do is force me to draw 500 from a atm.

And even that I'd likely get shot cause my dumb ass will argue.

nah this is the uk mate. it's stabby time or acid face splash, no shooty

pinky0926 posted...

nah this is the uk mate. it's stabby time or acid face splash, no shooty

I'm American. So it's shooty

Oh no, please don't take my crippling debt.

I refuse to do any banking on my phone.

But banks and lots of other important websites require fucking 2FA now, so having my phone stolen would still be disastrous, all in the name of "my security" *barf*

Why did tying shit to your phone become the gold standard for security? I fucking hate it.

streamofthesky posted...

I refuse to do any banking on my phone.

But banks and lots of other important websites require fucking 2FA now, so having my phone stolen would still be disastrous, all in the name of "my security" *barf*

Why did tying shit to your phone become the gold standard for security? I fucking hate it.

Because phones are life. Hell our phones are probably more valuable than us as human beings in a larger scale.

That said mine is basically exclusively for that when needed. I don't fuck with apps on something so easily stolen/misplaced, especially not ones that have ridiculously important info.

So basically his bank has records of where the money went

Well okay then

They can have my bank details over my dead body!

pinky0926 posted...

https://www.reddit.com/r/UKPersonalFinance/comments/1ceha6s/monzo_and_their_procedures_for_robbery/

This is my worst nightmare, short of a terminal disease. Makes me want to delete my banking apps.

Banking apps should have limits just like atms do for transferring money in large amounts.

Id rather just get shot than have acid splashed in my face, JFC

bizarrely they let me keep my phone despite having the bank details and supposed name of the person I sent the money to kinda amateur vibe

I'm pretty sure this information could be accessed without his phone.

I don't know how it works in the UK, but in the US to open a bank account you need to give a ton of information to prove you are who you are. I just opened two new accounts and had to give my SSN, tax ID, proof of address, photo ID. All transitions are easily tracible.

Was expecting an article. Didn't expect a Reddit thread as the source. Wow. Reddit is becoming so popular CE uses them as news/topic sources.

Makeveli_lives posted...

Banking apps should have limits just like atms do for transferring money in large amounts.

Mine does by default but you can turn it off.

Which would mean like several minutes of fumbling at knifepoint to do that.

I think if it was me I'd just end up getting stabbed

A real "What are you gonna do? Stab me?" moment.

Ah, the peace of mind being poor.

Makeveli_lives posted...

Banking apps should have limits just like atms do for transferring money in large amounts.

Sounds like a terrible idea.

Also, couldn't he have cancelled the transaction when he got home?

With my online accounts larger external transactions can take over a week to process.

Don't keep your life savings in an account you can access from your phone

Glob posted...

Sounds like a terrible idea.

LeoRavus posted...

Also, couldn't he have cancelled the transaction when he got home?

With my online accounts larger external transactions can take over a week to process.

This is the kind of thing I was talking about. Unless set up in person before hand at an actual bank, theres no reason to think its a good idea to allow bank transfers above a certain amount to go through immediately.

Poor dude

Damn that's crazy

Sufferedphoenix posted...

They'd be fucked cause I'm old school as fuck. I don't have banking apps on my phone. Worst they could do is force me to draw 500 from a atm.

And even that I'd likely get shot cause my dumb ass will argue.

that's only 500 per transaction. they'd just make you sit there and do it over and over

pinky0926 posted...

nah this is the uk mate. it's stabby time or acid face splash, no shooty

man, I'd rather get shot then acid splashed

thronedfire2 posted...

that's only 500 per transaction. they'd just make you sit there and do it over and over

You can only do one a day. They'd have to take me to Walmart and repeatedly make me buy stuff so they could make me get cash back with each purchase

Walmarts security might be spineless enough to not do shot but I doubt all the people would.

HudGard posted...

Ah, the peace of mind being poor.

The guy in the OP is poor and still got hit. no one's safe