The Stupidest Idea I have heard in the last Year!

I just heard it on the news. Wells Fargo wants you to replace your ATM card with your smartphone!

I suppose if you have never studied about computer security and never studied computer programming and never studied how all these things work together, then I suppose turning your phone into an ATM Card might make sense to you.

However, I do understand why people with Iphones for example, use them to process credit cards for their businesses, especially at places like Art Marts or conventions and the like.

But, for your personal finances you are going to replace your ATM card with a smartphone. This isn't to your advantage at all security wise.

First of all, how many times do you put your credit card out on a table at a restaurant or in a friend's house because you want access to your phone in case someone calls. How often do you put your credit card out on a table unless you are paying a bill?

What is the likelihood of you forgetting your phone or misplacing it when you do this?

2nd, what is the likelihood that your phone can be hacked and someone steals all your money from your personal account through your phone?

A smart phone is the LEAST SAFE computer device you own. Think about this for a moment. There is nothing computer wise less secure and safe that you EVER will own than your smartphone.

So, if you know anything at all about security and safety of your finances, you will NEVER use your smartphone as an ATM card for over 100 reasons.

This is just a gimmick from banks to get you to reveal (EVERYTHING about yourself to them) because they have access to everything on your phone too then.

This isn't really to YOUR advantage at all. It's just a gimmick for them to get more of your secrets on their computers about you to sell to other businesses and that's all.

And if you are too naive to understand all this then maybe you deserve whatever you get in harm to your life ongoing from all this.