

About two weeks ago you entered the wrong password and the incorrect password and your mobile banking app made you answer a security question. You could not remember the answer and after three wrong answers you were shut out of your account for good, and needed to call the help line. Today, after gentle prodding and a desire to not use your debit card as a gift card, you finally called to see if you could get the problem fixed.
Unfortunately, the first thing they was if you knew was your account number. Which you did not know unless you can get into your account. They then asked for your card number, which also also did not know because it was in the car and you were in your college dorm room. When the bank representative asked for your social security number you finally had a question you were able to answer. After finally getting into the account, the banker told you that you were going to have to answer the security security questions to get back in. You figured at least they would be different questions than the ones you had already struggled with, the ones that had locked your account, but you were wrong.
Luckily, the bank representative was patient as you first failed to guess your favorite childhood movie on both the firt and second attempts. You also struggled with remembering the nick name of your youngest sister. The fact that you set this account up when you were only 13 years old was a partial explanation of why seven years later you could not remember. In the end you finally succeeded and in getting back into your account. The bank worker was even laughing at the end, and after the long trial and error process she complimented both your patience and your sense of humor.
The Decision to Apply for Savings and Checking Accounts Requires a Responsibility on Your Part
Although the fact that you were locked out of your account is funny now, it was actually a pretty stressful situation. Unable to check the balance of your account, you were able to make purchases, but were not able to monitor your balance. When you apply for checking accounts you have to work your way through a pretty long process of digital tasks, but security questions as well.
Whether you are in the process of making a decision to apply for checking accounts or savings account, you need to be ready to provide answers to security questions. The fact that you may need this information for many years to come, it is important that you consider these answers carefully. In a time when more and more stories talk about security breach of the accounts of many, it should come as no surprise that these security measures are even more important. With several layers of security codes in place, it is important to carefully keep track, but guard, the information that you provide when you apply for checking accounts.
Even though it may seem like the current news stories are full of the security breaches, the fact of the matter is that although reports vary, most experts believe the first true debit card hit the market in 1966 thanks to the Bank of Delaware. Given that a July 2016 Gallup survey indicates that more than 6 in 10 Americans agree with the statement: “The U.S. will (eventually) be a cashless society, in which all purchases are made with credit cards, debit cards and other forms of electronic payment,” is an indicator that all of these security measures will continue to be important.
Research from the 2016 Federal Reserve Payment Study shows that between the years 2012 and 2015 the number of payments made using debit cards grew from $2.1 trillion to $2.56 trillion. This statistic included more than 69.5 billion debit card transactions in 2015.
Forgetting your passwords or numbers and getting locked out of your checking and savings account can be frustrating. When you realize, however, these security measures are in your best interest it is easier to remain calm and patient. Maybe even laugh a little every now and then. The decision to apply for checking accounts is an important step in reaching financial success.