Is our banking security secure enough??

radebe2k

withnell wrote: »

Well when you got the letter through telling you a DD was set up, did you not just contact the bank and say it wasn't made by you, and please cancel?

No because we never saw any DD instruction paperwork until we saw the statement with the dd's and returns on.

The point i'm trying to make ultimately is that banks seem to be very reactive and using the DD guarantee not proactive, meaning that they act after something wrong has happened rather then catching it before it even gets that far.

Extant

radebe2k wrote: »

The point i'm trying to make ultimately is that banks seem to be very reactive and using the DD guarantee not proactive, meaning that they act after something wrong has happened rather then catching it before it even gets that far.

That's the whole point.

Only trusted companies are allowed to set up Direct Debits, and they need to be guaranteed, as well - usually by their own bank.

Part of this trust is that they will take reasonable care to ensure that the customer is aware what a Direct Debit is, what their rights are, that they must use their own account, etc.

In return for this trust, companies are allowed to instigate a debit, but are also left with responsibility for it - because if it turns out to be wrong, THEY pay that money back - not your bank. It's the company that loses the cash and then has to chase the payment.

Direct debits are reactive because they're a safe guarded method of payment - accidents happened, but they are few and far between, and direct debit fraud just... doesn't really exist.

Having it any other way removes the convenience of the system.

cdixon1041k

Relax. Banking security is pretty strong nowadays.


Chris

serious_saver

You may be a little paranoid but better to come on a board like this and ask than to sit at home worrying. Hopefully some of the comments will ease your worries. With your name, bank account number and sort code the only thing that people can do is pay money to you! In order to commit a fraud they must have more information than this.

You mentioned that you bank with Alliance & Leicester. I don't know how long ago you set up your account but I had an internet only account with them and they did exactly the same thing that you described Smile as doing.