What if computers at the bank crashed? Are there any back up plans?

[jensu846]

I think its required by law that every financial institution have at least one back up server, probly more for bigger banks. Not 100% sure on that. I know when I worked for a credit card company, they had to have another site that could hold all the information just in case an act of god came through and destroyed the building.

 

[Kulindahr]

I talked about this with a senior teller at my credit union once. She pointed to the transaction receipt I had, and told me that a copy of that for every transaction gets kept -- and on it is the current balance of your account, so all they would have to do is go through the receipts and reconstruct balances and recent activity. But she told me not to worry about it, because all the computer transactions and records are backed up every few minutes, and at the end of the day a removable memory cartridge is pulled and locked in the vault.

So at the end of a day, they have four separate sets of records: the transaction receipts, the main computer, the backup, and the memory cartridge.

 

[Just_Believe18]

^ Sounds good to me. Thanks to Kulindahr, I think we can all move on in peace now.

 

[Kulindahr]

^ Sounds good to me. Thanks to Kulindahr, I think we can all move on in peace now.

Me?

I don't keep the records!

 

[Kulindahr]

But what if Al Qaeda gets to them

lol

Thank you for the info

LOL indeed.

Al Qaeda would have to hit two facilities at once, because the backup isn't onsite.

 

[chrisw87]

If the SHTF and the entire computer grid collapses, indefinitely. Then the bank can keep my debt and the small amt of money I have with them. No backup needed for me thanks.

 

[bankside]

The first thing a bank would think about in some kind of natural disaster or cyber attack is "My god! How will we know how much people owe us???!!!???!!!"

You can be sure there are records for that reason alone, in all likelihood stored somewhere that makes Chyenne Mountain look like the Fisher Price Castle.

 

[Audio Tech]

the first thing a bank would think about in some kind of natural disaster or cyber attack is "my god! How will we know how much people owe us???!!!???!!!"

you can be sure there are records for that reason alone, in all likelihood stored somewhere that makes chyenne mountain look like the fisher price castle.

Exactly!!!!

We're talking about BANKS. They can screw up all they want, but you can bet your life they'll always know to the onethousands of a cent what YOU owe THEM.

 

[Stardreamer]

If I recall any bank that participates in the FDIC program has to meet strict guidelines for protecting their assets which would include meeting proper information assurance practices. Most banks have multiple sites feeding their data to a central data center which in turn would have both local and off-site data backup to safeguard against natural disasters. This is basic information assurance principles and any medium or large bank not following them will not stay long in business. It is not a bad idea to write to your bank and ask about the security accreditation of their computer systems. You aren't just concerned about their back ups but what protections do they have against intrusions and data corruption, etc.

 

[Beachguyj]

In the 'old days', you went to the bank, interacted with a teller and when you were finished doing whatever you were doing, they would write down your bank balance in your bank book.

That doesnt happen now.

What if something happened to the computer(s) which have the information about our account balances. Is there some kind of ba back up plamck up system?

Or would people try to prove what their bank balance was before the computer crashed. (Not everyone keeps ATM transaction slips)

The banks must have thought of this possibility of computers crashing. What is there back up plan?

What banks used to have tellers?

 

[bankside]

What banks used to have tellers?

He means before banking apps on the iphone...When you had to actually physically locate a bank and use an automated teller machine. It would give you a print-out in a "passbook" of your balance.

 

[Beachguyj]

He means before banking apps on the iphone...When you had to actually physically locate a bank and use an automated teller machine. It would give you a print-out in a "passbook" of your balance.

ah yes, when they used to carve your balance on a clay tablet, I've heard of that.