Bank Transfer

CANDYTROOPER1922

Sorry might be the wrong forum topic......

When giving people your bank details so they can transfer money in to your account such as account number and sort code.

Can these details be used fraudently

Lokolo

They can sign you upto a chairty people as a directdebit (ask Jeremy Clarkson )

CANDYTROOPER1922

So what kind of protection do you have?

I have never set up a DD.

Does your bank contact you when a DD has been set up ?

DesG

It is more a nuisance than anything else.

Bear in mind that the same infirmation is on every cheque ( I know who uses them anymore)

Cheers, Des.

Debt_Free_Chick

samhor wrote: »

Sorry might be the wrong forum topic......

When giving people your bank details so they can transfer money in to your account such as account number and sort code.

Can these details be used fraudently

99% of the time ..... NO

Mikeyorks

samhor wrote: »

So what kind of protection do you have?

I have never set up a DD.

Does your bank contact you when a DD has been set up ?

Are we talking 'Bank Transfers' (the heading) or DDs? As they're not quite the same.

DDs are set up by the person (originator) you owe money to / are taking a service from. They tell you when / the value that will be debited from your account. And if you use online banking ..... you can normally see the DD details against your current account.
Use a Standing Order if you don't want to release details. But DDs are normally pretty safe ... never had any problems from them.

jambosans

samhor wrote: »

So what kind of protection do you have?

I have never set up a DD.

Does your bank contact you when a DD has been set up ?

You are protected under the Direct Debit Guarantee.

The organisation who sets up the Direct Debit will normally notify you, if they do not then they are in breach of the Guarantee. I don't think the banks are obliged to notify you but it really isn't a common method of fraud because Direct Debits are pretty airtight under the Guarantee.

crispy_chris

samhor wrote: »

Sorry might be the wrong forum topic......

When giving people your bank details so they can transfer money in to your account such as account number and sort code.

Can these details be used fraudently

They can be, yes. It is rare, but it does certainly happen.

soolin

crispy_chris wrote: »

They can be, yes. It is rare, but it does certainly happen.

All that can be done with a sort code and account number is to set up a direct debit , which as has been stated above is easily sorted out under the DD guarantee anyway. A cheque carries all the same info plus it has your name and signature.

crispy_chris

True enough, but working in fraud defence for one of the big 4 we have still seen people defrauded (or attempted to be) by third parties using their sort code/account number. Clearly I won't go into full details about it but it is possible, if unlikely.

Debt_Free_Chick

crispy_chris wrote: »

True enough, but working in fraud defence for one of the big 4 we have still seen people defrauded (or attempted to be) by third parties using their sort code/account number. Clearly I won't go into full details about it but it is possible, if unlikely.

Understand you can't go into "full" details, but can you confirm that the fraud occurred using ONLY the sort code/account? Surely, the fraudster had other "stuff" as well?