Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jul 11, 2022 13:24:36 GMT
|
|
|
Post by retiredat48 on Jul 11, 2022 16:44:03 GMT
I currently use the feature.
To make a withdrawal, I unlocked....made the withdrawal, then locked my account again.
I like this feature...
R48
|
|
|
Post by roi2020 on Jul 11, 2022 16:49:54 GMT
This feature provides additional security and is very easy to use. I've been using it for several years. Money Transfer Lockdown has been available since at least 2019.
|
|
|
Post by saratoga on Jul 11, 2022 20:43:12 GMT
If someone can get into your account, can he not unlock it as well?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jul 12, 2022 16:09:18 GMT
If someone can get into your account, can he not unlock it as well? The conversation on Bogleheads was about ACATs theft. Thieves don't have to log into your account to steal, they just need enough of your information to open a online brokerage account in your name, transfer your assets into it and then liquidate them.
|
|
|
Post by saratoga on Jul 12, 2022 20:19:44 GMT
If someone can get into your account, can he not unlock it as well? The conversation on Bogleheads was about ACATs theft. Thieves don't have to log into your account to steal, they just need enough of your information to open a online brokerage account in your name, transfer your assets into it and then liquidate them. This is another reason why it is prudent to spread your assets among several brokerages.
|
|
|
Post by bizman on Jul 13, 2022 1:00:42 GMT
Agree with spreading your assets among brokerages. But this strikes me as likely to be baloney unless the security guarantees that the big brokerages have are worthless. Unless they can show that you have been reckless with your data or stupidly shared it with people who have taken advantage of you, are these guarantees worthless? Or doesn't Fidelity offer one? I'd get a lawyer involved if I had trouble getting satisfaction. Schwab, TD and others have quite prominently placed security guarantees. No value with these? If so, why not just put everything with Coinbase and Yolo like the young meme-lovers that have gotten their posteriors handed to them in crypto and NFTs? Schwab Security GuaranteeTD Ameritrade Security GuaranteeFidelity Security Guarantee
Edited to add: This is a really good reason not to use those third party services that automatically gather portfolio information. I'm glad I just enter the consolidated info manually. As usual, when big money is at stake, at least a tiny bit of paranoia can be very useful to prevent a catastrophe. From the Schwab Security Guarantee on their website: " Does the guarantee apply to my account if I use an application like computer software or a program ("app") that can act on or retrieves my account data from Schwab for things including financial planning or to help me manage my finances? No. If you share your Schwab account access information with anyone or authorize account access through a third party app (except one that Schwab has partnered with on our platforms) and that sharing or access leads to any loss in your account, the guarantee does not apply. Firms or apps that can act on or retrieve, aggregate, and present account information for financial activities are sometimes referred to as "aggregators." When you authorize an aggregator or instruct Schwab to allow an aggregator access to your account information, the aggregator as well as its employees, agents and other financial apps and companies the aggregator does business with who access or receive your Schwab account information ("aggregator third parties") are considered your authorized persons. The guarantee only applies to unauthorized activity in your account. What an aggregator or an aggregator third party does in connection with your account and your information, even if they fail to safeguard your account or information, is considered authorized by you, so the guarantee does not apply to their actions."
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jul 13, 2022 1:59:33 GMT
Wow bizman, really valuable information. Thank you.
|
|
|
Post by saratoga on Oct 31, 2022 4:00:58 GMT
Is the lock-down feature or something similar available at Vanguard, T. Rowe Price or Schwab?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Nov 3, 2022 4:01:36 GMT
Lock is not available for 401K accounts
|
|