I am happy that I do not need to own a car (in a London UK suburb).
I am happy that I do not need to heat or maintain a large building.
Our outgoings are low. One child is already at university and the other will be soon.
My perception of a common US notion of a 'good' life only intersects somewhat with mine, and I have spent a reasonable amount of time in various US locations from SF to NYC via the midwest, etc.
I have asbestos in this modest[0] house: it's not any sort of a problem. (Lead only in my soldering kit in significant quantities so far as I know...)
I always have been fairly frugal and am in semi-retirement now from the residues of my last two small start-ups (to which COVID was unkind, so died simultaneously!).
My extended family has/had big houses, including one in which a famous film was set it seems, but I see those as mainly expensive liabilities. Never owned a car. Etc etc.
[0] As described by a visiting Secretary of State!
Wait for the money to evaporate ... more slowly than your remaining lifespan (and dying happy in your own bed for example) is one definition of winning.
Unfortunately my UK banks (and others) DO regularly make calls to me unannounced and demand my ID to 'prove who I am'. They are not scam calls and the callers cannot understand what they are doing wrong. If I'd had more strength in the last round of this stupidity I'd have done a number on them with the regulator. (I used to work in finance and was the director of a regulated financial entity, so I think I'd have a head start.)
In the US Caller ID has been so hopelessly compromised (for almost two decades now, that's on Congress) that financial institutions almost never make outbound calls, and only ever use standardized published numbers; I wasn't aware other countries differ so much.
Please tell us more context with regard to your UK banks making multiple unannounced calls demanding your ID ... were you an individual customer? finance director? MD? or what? Why on earth do they do that? Have you told them in writing not to? There must be more backstory to that.
Banking example: trying to move some savings from one UK bank to another - back to where the money had originally come from, and that had just purchased the first bank too. It took 8h on the phone over a week or so to get the money back, which was interspersed with a comedic number of calls from withheld numbers and people unknown to me demanding enough info to get access to my money. And other very poor practice. The bank even conceeded at least once in writing that it knew that it was screwing up and sent me £100 by way of apology - but carried right on screwing up.
Non-banking: getting a call out of the blue from my Internet Service Provider again demanding enough credentials to get access to my (business) account, and unable to understand why that was very poor practice. I used to like that ISP a lot, and have been with it for a looooooong time, but the angry exchange with who seems to have been my account manager has soured the relationship a lot.
Happy note: just had a sensible interaction with my bank where it called me back but the caller understood why NOT to ask data that could be used to access my account, and we managed to resolve the issue that I was having (which, I think, was my error)!
My bank (big green French one) pretty much always calls me whenever I do some unusual money transfer, even between my company and my personal accounts (they're both with the same bank), even though the transfers are authenticated either via the app or by an SMS code. However, the people calling me don't ask any details, just "is this vladvasiliu? Is it actually you who initiated this transfer, for x amount on y date?".
What are they, then? Sales/marketing calls? Or some security notifications ("we noticed some suspicious operations in the last 3 days...")? If it's the former, that's still scam in my books. Specifically, it's a first-party scam, as opposed to a third-party scam, where some third party pretends to be your bank.
They both should be treated similarly; unfortunately, you can't report first-party scams to police.
In my experience they're security calls. UK has good opt out marketing rules for legit companies.
But the usual security call is exactly like a spam call, no authentication from their end, immediately requesting id verification "answer these security questions", and refusing to go off script.
People have been asking for years to be able to lodge a security challenge code on their profile that can add confidence in the caller. Given there are already multiple security questions on an account, this could be a process change: the security challenge script becomes "the first and sixteenth characters of your mother's maiden name are 7 and F, what are the third and fifth characters of your first pets name".
In the UK, banks like Starling, Monzo and Revolut (and building societies such as Nationwide) have added a call status feature in their apps [0][1][2] that tells you if they are actually the ones calling.
Yeah, this is a no brainer (and I think most banks let you verify via the app rather than personal info) to avoid the annoying uncertainty (but note my mother would not be able to handle that I expect)
No "challenge code" your profile can be used to authenticate a caller. Profiles get leaked, almost all of them have been at some point, or at least that's the safe assumption to operate under.
Yeah as sibling points out, lots of orgs have scammy official security calls. This leads to a dance I have been through quite often.
<phone rings, I pick up> Hello
Them: Am I speaking to Sean Hunter
Me: Yes
Them: This is <rubbish bank who should know better>. Can you confirm your <date of birth/full address with postcode>
Me: Yes
Them: Err, … sorry I didn’t quite catch that.
Me: Yes.
Them: <thoroughly confused>I asked whether you can confirm your <date of birth/full address with postcode>
Me: Yes. I can.
Them: err… I can’t talk to you without you passing security.
Me: You called me.
Them: I’m sorry…?
Me: You called me. You wanting to talk to me about something is your problem.
Them: I need you to pass security before I can talk to you.
Me: OK, well. Have a nice day. <hang up>
Almost this exact thing has happened multiple times with one of my bank accounts which I can’t completely shut because of boring reasons but I have basically deprecated because they do this sort of nonsense. My main bank now is much better.
One of my banks refused to talk to me over the phone and informed me to go to a branch with 2 pieces of ID. Fair, it was a credit card opened online.
Only to find the 2 pieces of ID were just for them to talk to me and ask for more documents. Rubbish like employment letters (uhhhh, how about YOU call my employer instead of me printing out the “letter” they’ll email me?) or tax return stuff mid-year.
I cut up the credit card and mailed the pieces to their legal department. Someone called me pretty quick and without any authentication hassles.
That’s wild.
If my bank needs something from me they send an email saying that a message is available in the online portal - or in some cases they send me a physical letter.
Anything else would be highly suspicious
I generally say at some point before terminating the call "you should not train your customers to give out account access credentials to strangers" and the caller usually has no clue what I mean. Does no one in the security teams have theory of mind?
This will be the way I bring up the issue with the regulator if I do. I can think of many ways round this issue that would be much safer and not especially arduous.
A few of the bank people that I spoke to during the last caper were pretty senior and those did understand the issue that I raised but found themselves constrained by their rules, though one or two got creative with me in a good way. (Pretty much none of those who called me were 'minimum wage' in my estimation.) But very more senior management should be setting good scripts and expectations for the less-well-paid staff doing the grunt work. That is what their higher pay should be buying, IMHO.
I dream of a time I don’t have a bank, or not in any traditional sense.
I’d been hunting for ways to use a Wisecard standoff a bank but got a bit wary of what would happen if they went bust. Government backed guarantee do not exist for Wise.
Because of all the metal theft (eg stealing cables) that old-style scrap metal dealers facilitated, you may find laws and reputational risk against you.
I (/we) own outright a small home.
I am happy that I do not need to own a car (in a London UK suburb).
I am happy that I do not need to heat or maintain a large building.
Our outgoings are low. One child is already at university and the other will be soon.
My perception of a common US notion of a 'good' life only intersects somewhat with mine, and I have spent a reasonable amount of time in various US locations from SF to NYC via the midwest, etc.
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