Going to the bank is often seen as one of the most mundane daily tasks. If you pay close enough attention the next time you’re queueing through the ropes waiting to see a teller, though, you will begin to realize how esteemed and secured the process of depositing your paycheck truly is. It may seem obvious that banks would have higher caliber security systems, but we’re here to explain the ins and outs of why banks have such a high level of security.
Protecting Your Money
We use banks to keep our money safe because, although many don’t believe it, banks are far more reliable in protecting your assets than if you were to personally keep hold of them for yourself.
Hiding your money in a secret, a safe place isn’t enough for it to be properly secured. At any time, you could run into an array of issues in which you could potentially lose everything you’ve saved, but keeping it in the bank will not only offer you protection but a chance at financial recovery as well. If something were to happen to the bank you use and large amounts of money were stolen or lost, most banks have insurance through the FDIC. The FDIC, or The Federal Deposit Insurance Corporation, protects the money you put into the bank. So, if something did happen, you’re money would be protected under the bank’s insurance policy.
The chosen surveillance system for banks must be highly secure and lend itself to the lowest number of possible data breaches and hacks. Not only is protecting your money imperative to successful banking, but another of the biggest responsibilities held by your bank is protecting you. It’s easy to forget just how much of your information you have personally given to the bank, but the information they are privy to that you do not hand deliver. Information such as your credit history, or purchase history as you’d likely expect, but even more sensitive information like your social security number address are all tied to your bank account.
Aside from keeping your private information protected, it is also up to your bank to keep an eye out for any suspicious activity taking place on your account or inside of the bank. Employees and patrons alike face the more extreme risks one might expect in a bank. In the event where bank employees were in danger or money was suspiciously removed from certain accounts, having exceptional video surveillance onsite would drastically increase the chances of the thief being caught, properly apprehended, and rightfully returning the money.
Obviously, bank tellers are dealing with money on a frequent daily basis and are held accountable for the cash that passes through their hands. Many of the practices that employees are trained to use are for everyone’s best interest and peace of mind, though. For example, when the drawers are being changed over or it is necessary for someone to go into the vault, two employees must do it in tandem to keep one another accountable. Even in the case that an employee is unavailable to assist another, the entire transaction or drawer change will be captured on camera and easily viewable were uncertainties and questions to arise.
Hopefully, diving deeper into the types of security and the standards held and used by banks will increase or maintain the level of trust and understanding in your bankers as well as the security methods used by your financial institution. Even if it seems over-the-top, just remember that it’s there for your protection and peace of mind.