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Is it safe to give out details?
RobM99
Posts: 2,690 Forumite

I've had a dispute with a local trader. After much arguing he has agreed a refund. Is it safe to give my bank sort code and account number? After all, it's got to go somewhere! Thanks.
Now a gainfully employed bassist again - WooHoo!
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How did you pay him? In general a refund should be by the same means as the original payment so if you paid by bank transfer then refunding via that route would seem appropriate, but if via another means then he should use that to refund.1
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eskbanker said:How did you pay him? In general a refund should be by the same means as the original payment so if you paid by bank transfer then refunding via that route would seem appropriate, but if via another means then he should use that to refund.Now a gainfully employed bassist again - WooHoo!0
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Yes - it's safe. You know who you're dealing with, and not some random person in the middle of the other side of the world. Nobody is suddenly going to empty your bank account. If he or she has an office - I'd probably call them up and give them the details over the phone, or in a recorded delivery letter rather than by email, but that's just a personal preference.1
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Personally I'd stop short of describing it unequivocally as safe - there have been countless threads started by those who've had accounts frozen and/or closed as a result of inbound faster payments that are then either challenged by the sender (alleging fraud) or turn out to have been made from an account associated with fraud.
OP - do you have any other accounts that would offer you resilient access to some funds in the (hopefully unlikely) event that the one you nominate ends up being frozen?0 -
eskbanker said:Personally I'd stop short of describing it unequivocally as safe - there have been countless threads started by those who've had accounts frozen and/or closed as a result of inbound faster payments that are then either challenged by the sender (alleging fraud) or turn out to have been made from an account associated with fraud.
OP - do you have any other accounts that would offer you resilient access to some funds in the (hopefully unlikely) event that the one you nominate ends up being frozen?Now a gainfully employed bassist again - WooHoo!0 -
Or open a savings account that accepts BACS or Faster Payments- you can close it once the money arrives.
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Could you ask for a cheque instead?0
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wmb194 said:Could you ask for a cheque instead?0
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RobM99 said:I've had a dispute with a local trader. After much arguing he has agreed a refund. Is it safe to give my bank sort code and account number? After all, it's got to go somewhere! Thanks.RobM99 said:I'm just concerned that he might get into my account in the future.0
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RobM99 said:I've had a dispute with a local trader. After much arguing he has agreed a refund. Is it safe to give my bank sort code and account number? After all, it's got to go somewhere! Thanks.The only things that can be done with your sort code and account number (which are in any case printed on cheques) are pay you money or set up a direct debit. An unauthorised direct debit is covered by the direct debit guarantee, and would be reversed almost immediately you notified your bank.As mentioned there is a very slight chance of fraud or money-laundering suspicions getting your account blocked. How trust-worthy is the trader?
Eco Miser
Saving money for well over half a century0
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