It is a known fact that there is so much fraud in the world these days especially in the financial sector. Many youths are into financial fraud to make quick money by dispossessing innocent people of their hard earned money so one must know how to protect his money in the bank.
There are various ways to protect your money in the bank but let me sum them up in three ways
First thing to do is to avoid moving around with your ATM card to reduce the chances of losing it to fraudsters. Keep it in a secured place and use cardless withdrawal on any modern ATM machine to withdraw your money. Once you press Cardless Withdrawal, the machine will guide you.
Secondly, if you have bulk money in your account, you need to have two accounts and put the bulk of your money in one with no ATM card connected to it, while you limit the amount of money you put in the one with ATM card just in case you lose it. Just keep small amounts there and top it every month end.
It is important that you tell your bank to give you ATM authorization form and you indicate that ATM and online banking be deactivated from that your account with bulk money. If not the boys will still have access to your account through those links. You will use transfer form to top up the other account.
Thirdly, your bank account is not accessible by your family in the instance of death. You also need to protect your hard earned money from the banks who will never inform your family that you left so much in your account when you are not there. It is not their job to inform your family any way.
To avoid having your family starve in your absence, if it happens, you write a will and include your bank details and how it will be managed when you are not there. However, it may still take some time to implement a will if there are issues after the owner has passed on.
Alternatively, you can put your bulk money in a company account and make your spouse and children directors or create Family Trust with you as manager. In the instance of death, the new managing director will be able to run the company account or the trust account gets new manager from your family.