Getting account name for a bank account?
Discussion
Is there any way you can do this, to be assured of details when sending large sums to solicitors, if their banks doesn't support the name checking thingy?
Can you just call up the bank and ask what the name on the account is?
Obviously a solicitor will give the correct number over the phone, and possibly confirm via email so you have no issues with mis-hearing stuff, but none of these seems foolproof and robust without the check of the account details name, or getting a physical copy from the solicitor in person! (note that even posting isn't ideal)
I'm sure I'm fine, but it does raise a lot of thoughts about how easy it would be to scam people by just intercepting their communications. One email leak and you can hop in. Mobile phone number and you can call up and "pretend" you're their solicitor with new details. Post, anyone could get to it before you do.
Obviously I'm belt and braces so I want to check.
Can you just call up the bank and ask what the name on the account is?
Obviously a solicitor will give the correct number over the phone, and possibly confirm via email so you have no issues with mis-hearing stuff, but none of these seems foolproof and robust without the check of the account details name, or getting a physical copy from the solicitor in person! (note that even posting isn't ideal)
I'm sure I'm fine, but it does raise a lot of thoughts about how easy it would be to scam people by just intercepting their communications. One email leak and you can hop in. Mobile phone number and you can call up and "pretend" you're their solicitor with new details. Post, anyone could get to it before you do.
Obviously I'm belt and braces so I want to check.
It's honestly pretty difficult without sending a test payment first.
OH is a solicitor and the biggest scam attempt we've experienced so far has been over 500k. Clients email and phone were hacked, scammers found and tracked email threads between buyer and solicitor, told client 'our' new account details by email appearing to be from us (despite disclaimer at the bottom of every one of our emails saying NEVER trust account changes), then they phoned them and told them to transfer a huge amount well ahead of when it was required in the conveyancing process. Clients actually went into a branch and sent it. Counter staff did nothing other than send it. As far as I know their bank refunded them in full in the end but the scammers 'bank', one of the cash card type internet 'institutions' refused point blank to help and the last I heard it hadn't been resolved - plus IIRC the chain collapsed as no funds means no house.
Incoming numbers can be faked, emails can be hacked and replicated, and clients (apart from yourself!) are incredibly trusting/daft. It's a regular thing. The scam emails are authentic, footers and logos etc are easily copied, our IT guy said the visible address the email has come from can be altered to suit, heck you can even set a complete website up in minutes. Business bank account in any name you fancy? No problem - I've done it (for a legit business) with no proof of anything whatsoever. App-based banks ask no questions.
If you can google the solicitors for their number, be sure it's the right website and number, then phone them (outgoing call only) to read them the account details (they should not reveal their account to you, you have to read it out to them), or use a letter you've received by post that you know is genuine to get contact details from that, you'd probably be ok, but if you're dealing with life-changing amounts of money send a test payment first, every time, and follow up with a phone call or visit.
OH is a solicitor and the biggest scam attempt we've experienced so far has been over 500k. Clients email and phone were hacked, scammers found and tracked email threads between buyer and solicitor, told client 'our' new account details by email appearing to be from us (despite disclaimer at the bottom of every one of our emails saying NEVER trust account changes), then they phoned them and told them to transfer a huge amount well ahead of when it was required in the conveyancing process. Clients actually went into a branch and sent it. Counter staff did nothing other than send it. As far as I know their bank refunded them in full in the end but the scammers 'bank', one of the cash card type internet 'institutions' refused point blank to help and the last I heard it hadn't been resolved - plus IIRC the chain collapsed as no funds means no house.
Incoming numbers can be faked, emails can be hacked and replicated, and clients (apart from yourself!) are incredibly trusting/daft. It's a regular thing. The scam emails are authentic, footers and logos etc are easily copied, our IT guy said the visible address the email has come from can be altered to suit, heck you can even set a complete website up in minutes. Business bank account in any name you fancy? No problem - I've done it (for a legit business) with no proof of anything whatsoever. App-based banks ask no questions.
If you can google the solicitors for their number, be sure it's the right website and number, then phone them (outgoing call only) to read them the account details (they should not reveal their account to you, you have to read it out to them), or use a letter you've received by post that you know is genuine to get contact details from that, you'd probably be ok, but if you're dealing with life-changing amounts of money send a test payment first, every time, and follow up with a phone call or visit.
Yes it's all just a bit of a Wild West situation.
My solicitors say they'll never send details by email. And only to ring them for the details. But I find the issue there is then that of human error, writing it down wrong, or mis-reading digits written down badly etc.
Or, as noted above, what if your comms are being intercepted. Who knows... it can be worthwhile if you're dealing with £500,000 probably!
Any how, I managed to get a PDF from my solicitor with their full details on, AND then rang them to get confirmation, so I have it in an email, and written down, and then took photos of all sources side by side so it's in an image stored offline.
As I couldn't do the account name check via the bank, I referenced but independently went to the solicitors bank website, and asked for the account name details for the numbers I had, and they gave me back the correct account name... which was reassuring haha.
Also I've split payments, the initial ones being for searches (£200), so I know they got it, and had legitimate return of searches, and also for the deposit, and completion confirmation from the seller solicitor, so I know the funds are funneling through the solicitor properly and no funny scams might be operating somehow to no one's knowledge.
I then had the big lump to send, and HSBC wanted some print-out letterhead of paper from the solicitors with the invoice amount on.
Clearly this is no safer (unless you pick it up from the solicitors in person) than a printed email version.
Even my contract pack arrived with damaged packaging, so even a print out posted could be modified by a scammer, dodgy postman, who knows.
I ended up saying no thanks to HSBC and having to use my building society (one of them doesn't even let you send to anywhere except your bank current account), who'd do a chaps to the numbers given by me.
So obviously all the risk on me... but at least I can do due diligence for myself which I'm happiest with.
A very odd world as we increasingly go internet only and online only... the scope for being scammed is just through the roof!
And the ability to do any due diligence goes out of the window once physical presences disappear.
My solicitors say they'll never send details by email. And only to ring them for the details. But I find the issue there is then that of human error, writing it down wrong, or mis-reading digits written down badly etc.
Or, as noted above, what if your comms are being intercepted. Who knows... it can be worthwhile if you're dealing with £500,000 probably!
Any how, I managed to get a PDF from my solicitor with their full details on, AND then rang them to get confirmation, so I have it in an email, and written down, and then took photos of all sources side by side so it's in an image stored offline.
As I couldn't do the account name check via the bank, I referenced but independently went to the solicitors bank website, and asked for the account name details for the numbers I had, and they gave me back the correct account name... which was reassuring haha.
Also I've split payments, the initial ones being for searches (£200), so I know they got it, and had legitimate return of searches, and also for the deposit, and completion confirmation from the seller solicitor, so I know the funds are funneling through the solicitor properly and no funny scams might be operating somehow to no one's knowledge.
I then had the big lump to send, and HSBC wanted some print-out letterhead of paper from the solicitors with the invoice amount on.
Clearly this is no safer (unless you pick it up from the solicitors in person) than a printed email version.
Even my contract pack arrived with damaged packaging, so even a print out posted could be modified by a scammer, dodgy postman, who knows.
I ended up saying no thanks to HSBC and having to use my building society (one of them doesn't even let you send to anywhere except your bank current account), who'd do a chaps to the numbers given by me.
So obviously all the risk on me... but at least I can do due diligence for myself which I'm happiest with.
A very odd world as we increasingly go internet only and online only... the scope for being scammed is just through the roof!
And the ability to do any due diligence goes out of the window once physical presences disappear.
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