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
In the UK, never had to show ID to withdraw or deposit from my account, just my card, pin, and a OTP from the app if it’s a large transaction
In the UK you don’t need ANYTHING (other than knowledge of a few details). I’d always assumed you needed a card at least but they’ll happily give you cash once you’ve filled out a very small form.
Because it isn’t really your money. It’s theirs and they allow you to use it most of the time.
If it was your money you wouldn’t need to ask permission from someone.
In America; ATMs generally require a PIN over a threshold; while Tellers require an ID over a threshold as well. However, Tellers have discretion and can take on that risk if they’d like.
Noting every bank has their own set of rules and risk allowance.
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