Meanwhile in Spain, I am living a demo version of this problem and writing funny notes about it. When writing that my situation could be much worse, I felt it was too theoretical and abstract threat - until I found this post, of course.

My problem is not terribly important, but funny: my banks apparently implemented a pioneer solution known as Schroedinger's security. My phone number is safe enough to be used as 2nd factor to authenticate bank transfers. And at the same time, my phone number is so horribly insecure that, when I attempt to send HalCash to it (HalCash is a system that sends SMS to the recipient to withdraw cash at ATM), it is not enough to refuse the operation. No, they have to lock me out of internet banking for a week and counting.

Also, why nobody mentions that elimination of cash is such a good idea? /s People could no longer complain that they are not able to withdraw more than $300.