Is My Bank Smart Enough?

When I receive a bank statement, I review all the transactions. The problem is my failing memory. I do not remember when and where I last took money from an ATM, and how much. So I decided to create a pattern. I used to take cash in multiples of 100. Probably most people do that. A better idea is to always take the amount that has a fixed remainder modulo 100, but not 0. For example, let’s say I take one of the following amounts: 40, 140, 240, or 340. Sometimes I need more money, sometimes less. This set of numbers covers all of my potential situations, but my pattern is that all the numbers end in 40. This way if someone else gets access to my account, they will almost surely take a multiple of 100. I will be able to discover a fraud without remembering the details of my last withdrawal.

In addition, when I first started doing this, I was hoping I wouldn’t need to wait until I review my own statement to discover problems. My hope was that if a thief tried to take cash from my account, my bank would notice a change in the pattern and notify me immediately. Now I realize that this was wishful thinking. I doubt that banks are as smart as I am.

One day I should try an experiment. I should go to an ATM I never use and withdraw 200 dollars. I wonder if my bank would notice.