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"If I forget my password, I would like to have to go to the office with my passport to reset it. This person should be high level and well trained so that socia
by njarboe 8y ago
"If I forget my password, I would like to have to go to the office with my passport to reset it. This person should be high level and well trained so that social engineering is unlikely to work on them." Passport and well trained.
If it was clearly a premium option that you paid good money for, the bank or brokerage could have a smart, well trained person handle this. Charge me more than $100, if that what it takes. I think if you eliminate people that don't live in your legal jurisdiction from defrauding you and make them show up somewhere in person (Russian hacker, Nigerian scams) the likelihood of the fraud happening goes down by 3-4 orders of magnitude.
- patio11 8y agoThis is an option at many financial institutions and often required above a certain level of transaction, but retail customers don't hear about it quite so often because it's in the general category of "If you have to ask, you can't afford it." The magic word is Medallion Signature Guarantee and the mechanism is, basically, "Bank of America is satisfied that we were talking to Bob when we affixed this medallion on this paper and if we were wrong we're good for $500k." The most likely place one is likely to run into this (assuming a typical-for-HN sort of life plan) is if you accumulate a substantial amount of money in your retirement account and then try to transfer it to a different brokerage.