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Low-limit PIN
Lower limit PIN - like the Panic PIN but less aggro | |
Yes, this is a spin-off of the incredible Panic PIN - 285 croissants and counting!
It is common for ATM cards to be able to access multiple accounts. This idea uses two PIN numbers.
As normal, you slip in your card and are prompted for a PIN.
The primary PIN number acts as normal. All
accounts are accessible and the per transaction limit is set at a regular level.
However, these ATM cards also have an alternate PIN. If this number is entered instead of the primary PIN, the credit limit is lowered and only one (designated) account is accessible. There are no outward indications that the alternate PIN has been entered.
The alternate PIN is the same length as the primary PIN. It is a service that is available at no cost from the bank. It is not preset as primary PIN +1, primary PIN reversed, it's an independent, randomly generated PIN. The alternate PIN can be changed by logging in with either the alternate PIN or Primary PIN.
The only refinements I suggest is possibly a higher frame-rate recording during and following the transaction and a flag on your monthly account staement. No police are called, no doors are locked, no alarms go off.
There are two possible uses:
(1) As a duress PIN - if you are getting robbed, you can give the thief the number and he can get some cash. He could even make you take out all your money (in the designated account, the only one he can see). He has no way of knowing and no reason to guess that that's not all you have. If he takes your card, he'll be giving the police lots of good evidence later when he uses the card next.
(2) As a special use PIN - e.g. for kids that need money access to emergency money on a school trip [here - take my ATM card], or if you're completely forgettful and absolutely_have_to write a number down as a backup.
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It's been a long time since I read the Panic Pin idea, and so I won't pretend to remember all the points that were discussed there. But as well-intentioned as I think this idea is, and even though it would be useful protection if you could be physically forced to access an important amount of money from your ATM account, the fact is that most ATMs still only allow a maximum withdrawal of $300US per transaction, and only one transaction per day.
For $300 I'm not going to risk my personal safety (or that of my loved ones) by playing mind games with someone who is holding me in threatening circumstances. It's just not that important. Much better to go along , accomodate the attacker as reasonably as possible, and rely on the ATM's camera and your memory to identify the attacker in a police lineup at a later date. That's the advice I'd give my wife and kids after I gave them big hugs and mugs of cocoa. |
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Some UK ATMs now allow you to withdraw up to GBP £500 at a time. A screen that flashed up, "You have reached your daily limit. Maximum amount available £55" would be a good idea. A non zero amount, but not significant in the grand scheme of things. |
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If a withdrawl is made, the next time the card is used, all the alarms go off (unless you've called the bank first). |
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//This reminds me of the "mugging" wallets that I carried in Chicago. A large wallet filled with $1 billls was carried to throw to muggers. They only saw a fat wallet with money protruding. By the time the wallet was retrieved and the money (all $20) was counted, I would be long gone and they wouldn't be angry for being *stiffed*.// |
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The variation I read was a money clip with $10 on the outside and $1 bills on the inside (about $20 total). If the crook goes after the money clip, you can run. If the crook doesn't go after the money clip, it means he intends to kill you and you should react appropriately [e.g. if he has a gun and you don't, you jump him; you may get shot, but a poorly-aimed surprise shot is more likely to be survivable than the bullet to the head you'll otherwise get]. |
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//I am not sure if this is an original idea// |
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I couldn't decide either, [IVnick8or], hence my spin-off comment/hommage. Besides, the Panic PIN idea was getting a bit off-topic. I figured as there was a whole sub-category for PIN ideas, I'd separate it. If this idea is superfluous, it'll get forgotten in the bowels of the 1/2B server. |
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This idea is fundamentally different to the Panic PIN, because it is not intended to call the cops, but to limit how much we lose. |
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It is also a method of flagging special cash transactions on your account statement, e.g. your kid withdrawing emergency money while on a school trip. |
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//most ATMs still only allow a maximum withdrawal of $300US per transaction// |
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Where I live, margins are thin and many retailers require a surcharge for credit card transactions. Hence, it's more of a cash economy that the USA. Withdrawal limits are commonly in the thousands of US dollars (per transaction) and the robber could easily take enough in a short time to buy himself a small car. |
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I have already implemented a similar idea. Not all credit cards have ATM facilities. I carry a separate plain-vanilla ATM card linked to an account with a small balance on it. I never use this account in ordinary business. A robber would only get this balance and my savings are safe. |
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The Low-limit PIN idea saves monthly banking fees, carrying a separate dummy card and can be universally available to people less devious, paranoid and over prepared than myself. |
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I like the fake wallet idea; maybe it'll works in America where, from what I've seen in films, robbers introduce themselves and state their demands. |
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Problem is, where I live, guns are banned except for the police. Robbers bop you on the back of the head with a steel mallet in a dark alley and go through your pockets, taking everything. |
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I saw a variation in an urban-survival style travel guide. The idea was intended to help you bribe militia/rioter checkpoints. |
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Before fleeing to the airport, you stuffed your pockets with loose dollar bills, $20 to a pocket, as a loose notes are more difficult to count (especially in a riot situation) than a billroll or in a wallet. If chased, you dump the loose notes and some may stop to collect them. |
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By separating the notes into bunches in different pockets, you don't lose all your bribe money at the first checkpoint. |
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I've never needed to do it myself, so I can't tell you if it works. |
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