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Street Smart
User Rank
Platinum
Online Banking and Phishing Schemes
Street Smart   8/4/2011 7:03:38 PM
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Really interesting post, #Noreen--

I may be tempting fate writing this, but I have to give credit where credit is due and say that Citibank has been very ahead of the curve when it comes to fraud protection on my account...SO FAR...

In fact, I've found them to be a little overzealous in the past in checking on out-of-town purchases, especially when I travel alone.  I now call ahead, too.

I bank with three different banks (two large, one small) and have a number of credit cards, and for my peace of mind, the Citi hasn't been caught napping yet.

No reason not to be incredibly cautious though...it's a jungle out there! 

tokyogai
User Rank
Platinum
Big banks seem to have the most risk
tokyogai   8/4/2011 6:37:14 PM
NO RATINGS
It seems that big banks are more foten targets- just due to their size and assets. A cyber invasion of a big bank yields much better results and it seem to take them longer to notice something is going on. Maybe small regional bankds are a better answer.

PredictableChaos
User Rank
Platinum
Err on the safe side
PredictableChaos   8/4/2011 4:02:38 PM
NO RATINGS
We used to bank with a large, national bank.  When they were acquired by Chase, we made the decision to switch to a smaller, local bank.

Now, we have fewer branch offices, so dealing with paper checks is more difficult.  But the additional security more than compensates for the inconvienience.  We now expect calls from the bank if we have unusual charges of any type - size, location, frequency, pattern.  When we travel outside the US, we even give the bank a call beforehand, so they know that the upcoming charges are really ours.

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