How do you feel about bank details in email?

masonic

talexuser wrote: »

I would understand the logic of checking your bank details when opening a bank account, but my point was whether opening a savings account with your existing bank account as feeder requires the full details of your bank account to be sent after the initial DD has already worked ok.

No, it isn't required. But then again, there are lots of things banks include in their communications with customers that aren't required. A bank could, theoretically, communicate with its customers entirely through online secure messaging - some already do, or come close to doing so. I thought your question was whether communicating bank details by email posed a security risk.

talexuser

masonic wrote: »

I thought your question was whether communicating bank details by email posed a security risk.

It was, just thought that another savings organisation sending full bank a/c sort when not really necessary was a further risk that is... well... not really necessary.

masonic

talexuser wrote: »

It was, just thought that another savings organisation sending full bank a/c sort when not really necessary was a further risk that is... well... not really necessary.

Who knows, perhaps someone has intercepted your bank details and will soon use them to make a bank transfer into your account. I can't see account number and sort code being of much interest to fraudsters. There will be other juicier bits of information within your email they would go after.

jamesd

talexuser wrote: »

Seeing we are always told email is not secure how do you regard any risk?

Email isn't always insecure, it just can be insecure. Encrypted transfers direct from sending server to receiving server are supported and widely used. Encrypted transfers to mail clients or web mail pages are also readily available. Using those things makes it secure, in general.

While there would be some small risk you are protected against fraudulent transactions so it's not really something to worry about.

If you do want advice from an expert, the famous FBI fraud consultant Frank W. Abagnale has said that the safest way to pay for things is by credit card because you are fully protected from fraud by law, not by discretionary schemes. He's never had a debit card and didn't let his children have debit cars either. The UK has somewhat better protection than the US but he's still right about lowest risk. So far as direct debits go, though, the Direct Debit guarantee provides excellent protection in the UK and you don't need to worry about them.