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In most cases checking/savings account hijacking would have little or no loss to the customer (usually there is a time frame the loss has to be reported by and
by niij 7y ago
In most cases checking/savings account hijacking would have little or no loss to the customer (usually there is a time frame the loss has to be reported by and there may be a low minimum fee of $50 or so).
- filoleg 7y agoThere would be no raw financial loss at the end of the day, but there sure is a lot of time loss involved for both parties. It gotta cost not a non-zero amount of money to deal with all those issues, while with a proper 2FA all those costs would be pretty much cut to zero.
- niij 7y agoThat was my point. The customer won't pay for any financial loss, so therefore the financial institution would.