Would you reveal your bank details in public?

maas

robatwork wrote: »

It's not just friends and family though. Whenever I get an invoice for some building or garden work, I get that person's bank details. So in effect that information is now public.

So are bank systems robust or not?

Well the question is "Can someone set up a DD with your account/sort code?" like they did with Jeremy Clarkson.

Well the answer is yes, they dont even need your signature with online DD forms.
They'd need your address which they'd probably have through correspondence and the banks address which they can get from sort code.

If it happens you can simply claim it back.

Minrich

Having access to a sort code and account number in no way allows anyone to access your account , its like your house number and your street name ! Giving out your bank account details is not a problem at all .

grumbler

Minrich wrote: »

Having access to a sort code and account number in no way allows anyone to access your account

It does allow.

, its like your house number and your street name !

No.

Giving out your bank account details is not a problem at all .

Sometimes it is. Luckily, the problem isn't huge because of the DD guarantee, but it's still a problem.

The system is obviously flawed.
The only question is the scale of the problem.
New unauthorised DDs are not common, but do happen.
DDs reinstated by companies without authorisation after the customer cancelled it is a very common problem:

grumbler wrote: »

...
IMO it's ridiculous to suggest that it's fine that money can be easily taken from peoples account without their consent only because they are supposed to keep their eye on the statements and then spend time and efforts on getting the money refunded.
Is it fine for you if I take money from your purse without telling you and leave a note in the purse promising to give the money back when you discover this in the middle of nowhere and call me?

...I can easily imagine a fraudster setting up a charity and then setting small DDs on random accounts. It's next to impossible to trace who exactly 'authorised' the DDs. Most of them will be cancelled. Small proportion will keep going for years.

AUDDIS Direct debit system being abused by NPower?
Standing Order/DD
DD cancelled but bank paid out and charged
Cancelled DD taken

maas wrote: »

They'd need your address which they'd probably have through correspondence and the banks address which they can get from sort code.

AFAIK, all they need is the number and the sort code. Even the name isn't being checked, let alone the address.

Dobbibill

maas wrote: »

Well the question is "Can someone set up a DD with your account/sort code?" like they did with Jeremy Clarkson.

If you worry this would happen then give them a savings account sort code & account number. why does it have to be a current account?

maas

Minrich wrote: »

Having access to a sort code and account number in no way allows anyone to access your account , its like your house number and your street name ! Giving out your bank account details is not a problem at all .

Give us a screenshot of a cheque, your address and a list of your favourite charities and I'll see what I can do for you mate :beer:

grumbler

maas wrote: »

... and a list of your favourite charities ...

Can you not use the list of your favourites?

SuperHan

In principle I would.

However, I don't have the time to ring my bank to invoke the DD Guarantee when DDs were fraudulently set up without my consent.

If I was unemployed or had more time on my hands, and the banks gave out free phone numbers, then I may just post the details here.

I have better things to do however.

That said, I don't make an effort to keep them secret... I've given them to people I only barely know to transfer money to me for various things. I just wouldn't advertise the details.

Armorica

Sort-code and account number aren't enough to authorise debits from your account. If someone has them or - randomly guesses a valid sort-code account number combination - they can try to set up a direct debit.

Online/paperless direct debit have to ask other identity check question types as well. Everything else will have your signature. If you've not authorised a direct debit instruction on your account, it's relatively simple to cancel it (it can often be done from online banking too).

So for individuals, it's not really an issue. Charities struggle a little more as they are underresourced to check, their details public and do suffer a little more from having to cancel unauthorised DDs.

bobblebob

End of the day you have to put trust in someone whenever you use your card. When buying online you trust that the website you use is secure and have a good firewall in place to stop any hackers gaining access to their servers.

When buying over the phone you give your card number and CCV number, and you trust the person on the other end wont use them fraudulently.

grumbler

bobblebob wrote: »

End of the day you have to put trust in someone whenever you use your card. When buying online you trust that the website you use is secure and have a good firewall in place to stop any hackers gaining access to their servers.

When buying over the phone you give your card number and CCV number, and you trust the person on the other end wont use them fraudulently.

What card (details)?

I think the OP was about the bank account details...