Banks and technology

Along with being a paralegal student and cashier at Cracker Barrel Old Country Store, I am a bank teller at a bank. Everyday I watch as people put money into their account, which is then managed by technology. You walk into the bank, give your money to the teller behind the line, where you lose sight of the money. You are then printed a receipt, which you must trust includes correct information. You wouldn't believe how many times a teller gives the wrong receipt to a customer, which would explain why balances and account numbers are not provided without proper identification. When you open an account, you usually recieve a little plastic card with a secret pin, which is your money. You want to buy something? Swipe your card/ input your numbers into the spaces (if shopping online) and press a few buttons, and VOILA! you have just been charged. Money has been taken out of your account. This actually causes more people to overdraft their accounts, because many people don't know how to balance a checkbook and they make too many purchases with money they think they have, when in reality they are already in the negative. This can be a huge problem for many people.

Now what about that little plastic card? What if you have a neighbor who watches for your mail, because they are snooping or maybe they are intending to be kind and bring it in for you. They see that little envelope, which anyone cn tell holds something extremely valuable. And most people know that the pin will arrive a few days later. That same person keeps an eye out for the mail everyday and finally gets their hands on the pin. BAM! they now have instant access to any money that you put into your account. And unfortunately mny people don't watch their account and so do not realize that money is being taken out.

And finally, what about those machines that people use to get money, ATM's. Everyday the tellers go out to the ATM to make sure that it is running properly. While doing this, they must check the machine to make sure that there are no cameras on the machine. Now that is a scary thought! someone places a camera and scimmer on the machine, they get your card number as it goes into the machine and the pin number as your fingers go across the keyboards. Another way someone has access to your money. I've heard that many stores have had similar issues. An employee at a Walmart changed out the credit/debit swipe machines with a fake one that would store all card numbers as well as the pin that goes with it and they had instant access to the money.

Now, I know that I have used the same words over and over again "they have instant access to the money," but these are only a few ways that a person can get money from your account without your knowledge, or at least immediately. I didn't mention the shady employees, the fake on-line vendors, etc.

But for now, I hope that you enjoy the video located at:
http://www.youtube.com/watch?v=6Zq1oIq87pY&feature=related

Until next week,
Elizabeth

This blog is prepared by a paralegal student as a class project, without compensation. The content of this blog contains my opinion, and is offered for personal interest without warranty of any kind. Comments posted by others on this blog are the responsibility of the posters of those messages. The reader is solely responsible for verifying the content of this blog and any linked information. Content, sources, information, and links will most likely change over time. The content of this blog may not be construed as legal, medical, business or personal advice