security issue ?

chalkybar

I've had a cash isa languishing (now with virtually nil interest) and am looking to transfer to another provider, something I haven't done for years. I've been looking at a few, mostly those that you can apply for/manage online as i work fulltime, so cant easily go in branch, or they maybe located in another region. i picked one recently, all seems fine, applied online all personal details accepted. Now they have asked me to fill in a form for the Isa transfer in and post it back to them. 
Really!...looking at all the requested details it includes full name, DOB, address, mobile no, email address, current isa account numbers & the new isa account numbers (for which I've already provided these online) all conveniently with my signature?
surely this is a scammers delight - sending all this through the postal system, anyone getting hold of this could pretty much empty my account out in full?

NottinghamKnight

How would they empty your account?

chalkybar

NottinghamKnight said:

How would they empty your account?

because they have virtually every bit of personal info needed for them to prove identity to gain access (oh, i forgot they also asked for NI number). Are you not aware of media reports of people who have had accounts emptied by some lowlife impersonating them?
is it not the banks/financial institutions themselves that say you should never put this kind of information out "there", out of your sight- and certainly not in its entirety!!
letters can be intercepted - maybe just opportunists get hold of it and pass details on for the price of a packet of fags?

AlanP_2

If you are that concerned use a different ISA provider, may be one with a local branch so you can just tell the person over the counter the information they need (in a whisper obviously) 

Seriously, if you don't feel comfortable don't do it and either leave cash where it is or move it to a provider that doesn't need any personal information from you via snail mail.

chalkybar

i just assumed "apply online" meant that all this was actually done online as most of the information was already entered.
As i said i haven't done this for a few years.
And to Alan P......no, I'm not paranoid (as implied) just don't want my savings disappearing into the void, loans or credit cards being opened in my name or any kind of other kind of  fraudulent activity - most of which i probably wouldn't even know about until some bruiser came knocking on my door or my credit score plummeted.

eskbanker

chalkybar said:

letters can be intercepted - maybe just opportunists get hold of it and pass details on for the price of a packet of fags?

While this may be the case when mail arrives at flats with communal hallways, etc, the risk is somewhat lower when being sent to a regulated financial institution - obviously anything is theoretically possible within the postal system itself but even there, there's ever more automation that minimises human contact....

LHW99

You can use Guaranteed delivery (not recorded) It's pretty good if expensive.

masonic

You should worry about all of the companies that have your personal information stored in one of their databases. Any one of them could suffer a data breach at any time. Much more likely than a paper form being intercepted in the post.

dales1

Who knows your password chalkybar, except yourself ?