Putting this under Other because it’s not really Economics.
I guess this is a question about banking security. Most people don’t withdraw past the ATM limit anyway, so why do tellers insist on seeing a photo ID even though the customer could easily withdraw that same money from an ATM without that step?
In: 10
I’ve been able to withdraw with just my debit card. They insert the card into the computer then hand me a pin pad to enter my pin into. Then give me cash from the drawer. Never tested to see if there were limits or whatever.
ATMs have hidden cameras that video your face. So there is at least an after-the-fact method of confirming identity (ex. confirm that Billy stole Grandma’s card and is ripping her off.)
You only need to show ID for certain amounts, at my bank it was $2,500 or more. Anything less and all you needed to do was slide your card, same as the ATM. If you’re being asked for photo ID for low amounts either you’re suspected of unusual activity, fraud, or your teller is new or your bank has new policies in place.
They could see a pattern of transactions through your accounts that look unusual/high risk or any recent withdrawals, normally there’s a threshold where they must ask for id example 5000 or more, but they also can ask if something else ig off about the Transaction. Also, they are responsible as the employee releasing the funds to the customer so some employees/branches/banks may want to cover their ass more than others. If an atm withdrawal is done by someone with the card who isn’t the account holder, there isn’t a person who can lose their job involved right. And if you can easily withdraw the cash from the atm, then do it right? If you don’t want to be subject to additional security measures then maybe just use the atm…
It’s all about multi-factor authentication. The most common factors are 1) something you have 2) something you know 3) something you are. You need at least 2 of those to be allowed to do the thing.
When you use an atm, you have an ATM card and you know your pin. That’s enough to satisfy the requirements.
When you withdraw from a teller, you know your account number and you have an id card. That’s also enough.
I’d you go to the bank with just your account number, you haven’t provided a 2nd form of authentication.
I didn’t mention any scenario with “something you are,” but generally that’s a biometric of some sort. Fingerprint, DNA, retina scan… Something that defines you uniquely.
Where approximately do you live? In Australia I’ve only ever had to swipe my card and put my pin in. Though photo ID worked when I’d lost my card.
Is it more a thing in other countries? Or maybe more local to OPs location?
There several types of identifications:
Something you are: This is the usual biometrics, typing, voice, fingerprint, signature, iris, and face.
Something you have: Usually a physical identification in this question, ID such as passport, drivers license, National ID cards, and a few others that includes a photo, these also include a signature, eye color, height and gender, that can be visually confirmed, another important example here, would be your debit card, passbook or bankbook.
Something you know: Thus would be passwords, codes and pins.
In a bank, you can withdraw money with either something you are, and something you have, or something you have and something you know.
A debit card, passbook, or bankbook, usually contains the account number, and the name it belongs to, this can then be used to check who got permissions for withdrawals, sometimes a Husband or a Wife might also be added to the account, they can use this information to request proper identifying information from you.
However, with an ATM, we don’t have the option of checking accounts and doing direct withdrawals, you have your card, witch you use to identify which account to withdraw from, and you have, most commonly, a pin code.
This is basic forms of multi-factor identification, since anyone could easily guess an account number and claim it to be theirs, but no bank would withdraw from it, without proving you are the owner, or have been allowed by the owner to withdraw from it.
Your banks handle physical money? *Cries in Swedish*
Do you need a photo ID? All I need is my membership card, which has no photo on it, to do anything at my Credit Union.
In the past (not sure if it’s still the same, also depending on where in the world you are) :
With an ATM withdraw, it’s was only the card owner, not the bank, that is responsible if their card was used fraudulently. (i.e. it can be up to them to prove their card was stolen/used without consent.)
But at a bank, the teller is also held responsible if someone is trying to withdraw funds using a stolen card. So in some cases, as an extra layer of security, they do a visual check of identity to make sure the person is who they say they are.
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