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Is It Safe To Give Your Bank Number?

by Boris_yo
14 replies
I know if credit card gets into the wrong hands then unscrupulous person will have control over it and if i will not be able to stop charges i will have to cancel it. But what possibly could happen if my bank number gets into the wrong hands?
#bank #credit #give #number #safe #security
  • Profile picture of the author Margo Tuul
    Same thing can happen. Lots of lottery scams going around and yes...people lose money there. It's very easy to copy a normal laser/debit card. So don't ever give out your bank details...who ever it is.

    I even don't give my bank details over the phone of my local bank rings me. I just tell them that your PC is in front of you...you can check my details there...
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    • Profile picture of the author domainarama
      Open a second (or third) bank account and keep the balance low.

      I have one main bank account from which I do my serious business. Then I opened a second bank account (with INGdirect, which doesn't demand a minimum balance and offers a full array of internet services). If I use a bank account on the net it's my second account. I keep the balance pretty low. Even if someone abused the second account they wouldn't get much money, if any.
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      • Profile picture of the author SuResearcher
        Originally Posted by domainarama View Post

        Open a second (or third) bank account and keep the balance low.

        I have one main bank account from which I do my serious business. Then I opened a second bank account (with INGdirect, which doesn't demand a minimum balance and offers a full array of internet services). If I use a bank account on the net it's my second account. I keep the balance pretty low. Even if someone abused the second account they wouldn't get much money, if any.
        This is sound advice and very close to what I do. If you don't want to create a separate account in a different bank, create two accounts in your current bank. Keep one account number to yourself. Do not issue checks or use it anywhere. Keep the majority of your money here. Use the other account as an external facing account. Keep only what you need for your monthly expenses here.
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    • Profile picture of the author ajwilliams
      Hi, the operative words here are "Wrong Hands". If you have a checking account, there is no way to protect the bank number since it is printed on every check magnetically so the bank equipment can read it.

      99.9% of the time this is no problem. However, there is that small % that will take advantage of any situation. There is actually software that will allow you to create a usable check on your computer using the bank numbers from any check for that matter. You just have to trust that this will not happen to you and if it does, your bank should help you get it straight.

      What you want to be careful of doing is paying for something using "pay by check" over the telephone or online, especially with someone you do not know anything about. Obviously the person can send that check through for any amount more than what you authorized.

      I actually asked my bank if this was ok to do and they told me that it is about as safe as the trust you have in the person that you give the information to process the check. I make it a policy to not use this method of payment.

      Otherwise, we all take a chance with just about anything we do that requires information about us. It can be a scarry world. But, you just can't dwell on it or it will make you crazy. Keep your chin up.

      A J
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      • Profile picture of the author JohnMcCabe
        Originally Posted by ajwilliams View Post

        I actually asked my bank if this was ok to do and they told me that it is about as safe as the trust you have in the person that you give the information to process the check. I make it a policy to not use this method of payment.

        A J
        This ^^^^^

        The only people that get that routing/account number without a paper check are a few big companies I do business with, and then only when I initiate the contact.

        And I write as few paper checks as possible these days. In the days of old, a paper check was much harder to forge. With the advent of electronic funds transfers and check blanks designed for use with personal computers, forgery has become much more accessible to the low-level scum.
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  • Profile picture of the author briancassingena
    hehe Couldn't help myself but reply to this thread as I heard this question a million times when I was in direct sales. Now, I don't know everything about how things work in other countries, but in Australia, to take money out of someone's bank account you need a special agreement and paper trail with your bank and theirs, plus a signed contract, etc.

    Here, if you think someone can steal from you if they get your bsb and account number, that's utter crap.

    It's relevant to sales and marketing though because it's an objection for so many people, if you offer this method of payment. You should ask yourself how to get around this objection and you'll ultimately make more sales
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    • Profile picture of the author Kay King
      Your bank account number is not a secret. If I called my bank to check my balance on the phone I would have to give the account number, my last four digits of my social security number and would have to answer 2 questions that I provided to the bank when I opened the account. Also would have to provide PIN info to get access to the money.

      You can walk into my bank and deposit money in my bank account with just the account number (and I urge you to do that:p) but you can't transfer money out of the account.

      kay
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      • Profile picture of the author seasoned
        Originally Posted by Kay King View Post

        Your bank account number is not a secret. If I called my bank to check my balance on the phone I would have to give the account number, my last four digits of my social security number and would have to answer 2 questions that I provided to the bank when I opened the account. Also would have to provide PIN info to get access to the money.

        You can walk into my bank and deposit money in my bank account with just the account number (and I urge you to do that:p) but you can't transfer money out of the account.

        kay
        BE CAREFUL! Some banks actually have TWO account numbers. One for checks, and one for deposit slips. I don't think those deposit slips can be used to get the account number for the checks. But apparently you CAN withdraw money with just the routing number and check account number, and MANY get ripped off every year because of it.

        It's a shame. When I was a kid, I was at least under the impression that the checks had to be sanctioned by the bank. Until sometime like the 80s, apparently they had to fit a certain standard, and be signed. NOW, like with what happened with credit cards, they don't even need to be signed!

        Steve
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  • Profile picture of the author Alfredo Carrion
    No it's not safe to give your bank number out to the public.

    I remember a few years ago, there was a British Newspaper Journalist who said that it was impossible to steal money if you gave out your bank account. Included in this article was the bank account number. He was wrong - within a few days, the money had been used (and not by him).
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  • Profile picture of the author mavmav
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  • Profile picture of the author celente
    most men feel that their bank acocunts are the safest with their wives.

    Clouded judgement in my view LOL
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    • Profile picture of the author JohnMcCabe
      Originally Posted by celente View Post

      most men feel that their bank acocunts are the safest with their wives.

      Clouded judgement in my view LOL
      Reminds me of the old Rodney Dangerfield gag:

      "A mugger stole my wife's credit cards. I didn't report it because he spent less than she did..." [rimshot]

      :p
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  • Profile picture of the author seasoned
    I OUGHT to be able to disprove half the things people are saying here with ONE word!

    PAYPAL!

    Not enough? I could pick a few hundred other terms, but how about a popular one that is 3 words long?

    Nigerian Bank Scam

    And I do hundreds of EFTs a month, and few know I consent to it. Certainly no legal consent is given.

    If you REALLY believe routing numbers and accounts are safe, GOOD LUCK! PLEASE don't test that frequently.

    BTW kay. I have to do the same thing. The last time they wouldn't talk to me without account number, ssn, mothers maiden name, and birthdate! I once was asked three questions on history dating back over 30 YEARS! But getting my credit is EASIER! Charging my credit card or bank account is easier. So YEAH, banks WILL ask a bunch of questions to talk to them but what if paypal couldn't use the routing and account numbers to exchange money? Their business would STOP, unless they decided to just use credit charges. And some places don't even verify, like paypal.

    Steve
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  • Profile picture of the author helpmePPC
    I don't know how scary it is unless the person knows how to make checks. Your banking info is on every check you own.
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    • Profile picture of the author rhinocl
      Be careful with your deposit slips. Fraudsters have been known to deposit phony checks to an account, and enter an amount for some cash back. they get the cash ,you get he bounced check.
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