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Giving Bank Account Number - is it ok ?

Discussion in 'Payment Processing' started by deadlychaos25, Mar 13, 2008.

  1. ShadyLady

    ShadyLady Active Member

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    #21
    100% safe :D
    I've given it to plenty of people.
    To withdraw money from your account they need your pin or security number :)
    SEMrush
     
    ShadyLady, Mar 15, 2008 IP
    SEMrush
  2. mainienator

    mainienator Peon

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    #22
    giving your bank account number is absolutely not a risk at all.. so many people can have your number to DEPOSIT amount... like company, friends, family etc.. giving it to a stranger wudn't matter for sake.

    cheers
     
    mainienator, Mar 15, 2008 IP
  3. RectangleMan

    RectangleMan Notable Member

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    #23
    Lots of bad advice here from people without a clue.

    http://www.ftc.gov/bcp/conline/pubs/tmarkg/debit.shtm

    Do not give untrusted strangers your account information. Go ask your bank how safe it is if you are really unsure. It's acceptable to give out your information to someone that's trusted so ask yourself..."does the person in india have a reputation I can trust?".

    You would be better off accepting a paypal, egold, or moneybookers payment. At least they can't extract money. If you give out your checking info. Not only can they take your money but some banks allow you to overdraft and you can OWE them more money. It's true.
     
    RectangleMan, Mar 15, 2008 IP
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  4. Stop

    Stop Peon

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    #24
    Yes no problem to give your friend just the account number.
    Thanks
     
    Stop, Mar 16, 2008 IP
  5. monster.amd64

    monster.amd64 Peon

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    #25
    I don't think so that there is any problem if you give your bank account number to any person...... you are not giving is password :) lol
     
    monster.amd64, Mar 16, 2008 IP
  6. puresound

    puresound Guest

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    #26
    A bank account of another person can pay for your account of credit card, or loan, or car payment, many other things.. and if you're victim you got to call investigate for month to get your money back.. its' really trouble..
     
    puresound, Dec 30, 2008 IP
  7. jestep

    jestep Prominent Member Premium Member

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    #27
    I have to agree, bad idea. All someone needs is a stolen ACH account or some other bank drafting system, and they can get money from you. Someone could also just make a fake check, and it's completely possible that it would slip through.

    Neither of these are extremely easy to do, but if you don't have to expose yourself to the risk, then don't.
     
    jestep, Dec 30, 2008 IP
  8. JDMS

    JDMS Greenhorn

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    #28
    There is nothing wrong with giving your bank account number, the sort code and the account name for people to pay into your bank account. After all, in the good old days when we paid people by cheque, that information was printed on the cheque, itself.

    Whilst the recipient of that information can deposit funds into your bank account, they cannot withdraw monies from it.

    However, if in doubt, don't!
     
    JDMS, Mar 31, 2016 IP
  9. jestep

    jestep Prominent Member Premium Member

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    #29
    What makes you think they can't withdraw from it? I use an ACH system with my company. I can basically put any US routing and account number in it and draft out of someone's checking or savings account. The only way it gets stopped is if the owner catches it and reports it to their bank, or it's so obviously fraudulent that the bank themselves catches it. There's absolutely no mechanism, at least in the US, that allows for deposits but doesn't allow debits from a bank account.
     
    jestep, Mar 31, 2016 IP
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  10. JDMS

    JDMS Greenhorn

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    #30
    I should have qualified my earlier post. They cannot "lawfully" withdraw monies from it.'

    Giving your bank details (not pin or password) to a third party is not a problem in the normal run of things. The only time someone with one's bank account details can withdraw money from one's bank is when a direct debit is set up.

    Now, it's perfectly possible for a fraudster who has your bank details to set up a fake DD and forge your signature on that document before presenting it to your bank.

    Once that unauthorised transaction is picked up by the account owner (since it was not authorised), the bank is bound by the Direct Debit Indemnity Scheme operating in the UK, at least, to refund you any monies withdrawn from your bank account fraudulently. I'd be very surprised if that was not the case with banks in other countries.

    If the fraudulent D/D mandate is picked up by bank (the signature is not recognised as being genuine), then the payment won't go through or, if it does, they can reverse the transaction.

    However, this indemnity does not apply if you disclose your credit/debit card details to any third party. Different rules apply in this regard.

    We can't stop fraud but we can limit the risks by being extra careful. It goes without saying that as account holders we should regularly check our bank statements so that any unauthorised activity on the account is picked up quickly and resolved without delay.

    Just to be sure that I was not giving incorrect information, I checked the above info with our company's business bank account manager before completing this post.
     
    Last edited: Apr 1, 2016
    JDMS, Apr 1, 2016 IP
  11. Ditmar

    Ditmar Well-Known Member

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    #31
    You can post your bank acc. no. to this thread. There is no risk.
     
    Ditmar, Apr 3, 2016 IP
  12. GUEST_BLOGGER

    GUEST_BLOGGER Banned

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    #32
    If payment is done by NEFT , share your account no, IFSC code and Name of account ... IT wont get hacked anyway and guy who is asking this is really genuine . SO dont worry.
     
    GUEST_BLOGGER, May 4, 2016 IP
  13. fionix

    fionix Well-Known Member

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    #33
    There is no problem to give your bank account number to anyone. At least not if you don't give them access to the account :)
     
    fionix, May 4, 2016 IP
  14. Luriya

    Luriya Peon

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    #34
    I don't think it should be a problem. Many people do that here in NYC when selling diamonds. Sometimes they even prefer this method. I guess it all depends on the reputation of the transferor.
     
    Luriya, Jun 8, 2016 IP
  15. jv1999

    jv1999 Active Member

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    #35
    I don't see anything risky about this. Banks are on top of fraud. All you have to do is say it wasn't you.

    The good thing is you can always change your bank account number if you feel too many internet people know it. Also u can change banks :D.
     
    jv1999, Jun 8, 2016 IP
  16. wco

    wco Well-Known Member

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    #36
    Frankly, I'm both a bit surprised and disappointed in the nature of some of the advice posted on this thread. While I can't speak on behalf of banking operations or security in India particularly, I would encourage you to consider your question, an arguably operational-security based question which could be considered in this case from a from a global-perspective. From there, to do your due diligence online (through reputable, government-based or trusted resources) to research why providing your bank-account number to someone that you don't know or posting it online is or is not safe - perhaps some government data that will be specific to your country of origin. When in doubt, I encourage you to secure your personal data - including bank account - at any and all costs.

    Perhaps quite a few of you would be surprised to hear of the type of technology and tactics used in-today's online scamming and laundering operations - across the globe, not to exclude unknowingly "donating" or wiring money to terrorist organizations, or having your data show-up as 'fall account', given the right research and level of "computer skills" - involved in such a rhetorical operation.

    Case in point, you risk opening yourself up to a "world of trouble". Good-luck.
     
    Last edited: Jun 9, 2016
    wco, Jun 9, 2016 IP
  17. PerformanceCard

    PerformanceCard Peon

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    #37
    Hey Corey, just curious on your response. Why do you think its easier to take money from a checking account than put money in? Deposits only require an account number and can be done by anyone that has that info... I can take an account number, walk into a bank, fill out a slip and just hand them the money, no questions asked. Withdrawals require not just an account number but also an ID to verify you are the owner of the account (often times a debit or CC as well for double verification). You cant just walk in and fill out a slip with an account number and they will give you money without question...
     
    PerformanceCard, Jun 9, 2016 IP
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  18. fionix

    fionix Well-Known Member

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    #38
    Most of you guys that telling people it is unsecure and put it up like you hold the wisedom in your hand compare everything with the USA only. For you guys the USA is what exists. Do you have a clue about what is going on outside there? It is very common in most European and Scandinavian countries to even put your bank account number on a website! You can't access this account.
     
    fionix, Jul 12, 2016 IP
  19. Yatish Gaba

    Yatish Gaba Member

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    #39
    There's not any risk involve in this. Just be relax and wait for your payment...
     
    Yatish Gaba, Jul 13, 2016 IP
  20. imnathanjames

    imnathanjames Greenhorn

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    #40
    There's no problem with that in my opinion.
    As long as he doesn't start asking for your pin number and mothers maiden name. LOL.
    But you should be fine with just the account number.
     
    imnathanjames, Aug 6, 2016 IP