[wildrhythms]

How do banks in Europe verify identity? i.e. I call the bank and claim to be "Margaret Thatcher," what's the next step?

Here in the U.S. the next step is usually asking for the social security number. I called VISA/Citi to re-activate my card after traveling and they asked for the associated phone number with my account. Neither of these are especially secure, in my opinion.

[kbart]

Can't talk about the whole Europe, but in my country there aren't many banking services provided via phone and banks keep decreasing their count insisting on their clients to use mobile app, online banking or ATM. I believe you can't even get available balance in my current bank via phone.

[heavenlyblue]

Local UK bank after separation from Lloyds (now called TSB) asks for 3 random letters of your security answer which is also used as part of online banking authentication. Additionally, your address and previous transactions if you're calling re. fraud.