Bank Details

[Bob_Defly]

Following on from the credit card thread and just ID theft in general, what can someone ACTUALLY do with your sort code and account number?

I'm firmly in the Clarkson "I don't think they can do much" camp, as not only are they pretty easily obtained from a card or a cheque, most people will give them over the phone to set up DD's or whatever.

I think there is a lot of fear that people can get cash out of your account for some reason, having worked in financial services, I don't understand how this could happen. In fact the worst I could think of is that someone sets up a direct debit in your name, but you would still spot this at the first payment... (which is I think what happened to Clarkson)

So is there any risk involved in giving out just your bank details?

[Silver993tt]

so if you need someone to transfer some money into your account for a payment, what else are you supposed to give them?

[KaraK]

Bob_Defly said:

Following on from the credit card thread and just ID theft in general, what can someone ACTUALLY do with your sort code and account number?

I'm firmly in the Clarkson "I don't think they can do much" camp, as not only are they pretty easily obtained from a card or a cheque, most people will give them over the phone to set up DD's or whatever.

I think there is a lot of fear that people can get cash out of your account for some reason, having worked in financial services, I don't understand how this could happen. In fact the worst I could think of is that someone sets up a direct debit in your name, but you would still spot this at the first payment... (which is I think what happened to Clarkson)

So is there any risk involved in giving out just your bank details?

well when Clarkson published his didn't someone set up a standing order or similar?

[V8mate]

Bob_Defly said:

So is there any risk involved in giving out just your bank details?

Send me yours and we can find out

[mattdaniels]

Clarkson ended up with egg on his face when he published his bank details saying "no one can do anything" and someone set up a £500 direct debit to a charity from his account.

[ymwoods]

mattdaniels said:

Clarkson ended up with egg on his face when he published his bank details saying "no one can do anything" and someone set up a £500 direct debit to a charity from his account.

Correct, with the sort code, name and account number you could link a bank account in PayPal, set up a direct debit with MOST places and with the address of the owner you could do a whole lot more aswell!

[V8mate]

ymwoods said:

mattdaniels said:

Clarkson ended up with egg on his face when he published his bank details saying "no one can do anything" and someone set up a £500 direct debit to a charity from his account.

Correct, with the sort code, name and account number you could link a bank account in PayPal, set up a direct debit with MOST places and with the address of the owner you could do a whole lot more aswell!

Order him some flowers from Interflora?

[HundredthIdiot]

ymwoods said:

Correct, with the sort code, name and account number you could link a bank account in PayPal

I don't think so. IIRC you need to verify the bank account by entering a code which appears on your statement.

[Driller]

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

[Silver993tt]

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

all my accounts need either:

a) securecode key number for online transfers
b) an original signature on a letter with transfer details

For b) if the target account has not been used in the past, they call me to verify the transaction

[Piersman2]

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

Believe it... and it can be done quite legitimately apparently.

I moved house a few years back and started with Virgin Braodband and expressly requested that they send me paper bills so I could check what I was paying for.

After about a year I suddenly found myself paying the same amount twice one month.

The bank had accepted a DD instruction from Virgin, and becuase Virgin are on their list of approved companies, they accepted it without even requring my signature or approval.

To compound this, they wouldn't remove the DD directly, I had to get hold of Virgin and ream them out. They of course replied with some bks about how I must have agreed to it during a phone call.

So beware... people CAN extract money from you even with just the basic numbers.

[Silver993tt]

Piersman2 said:

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

Believe it... and it can be done quite legitimately apparently.

I moved house a few years back and started with Virgin Braodband and expressly requested that they send me paper bills so I could check what I was paying for.

After about a year I suddenly found myself paying the same amount twice one month.

The bank had accepted a DD instruction from Virgin, and becuase Virgin are on their list of approved companies, they accepted it without even requring my signature or approval.

To compound this, they wouldn't remove the DD directly, I had to get hold of Virgin and ream them out. They of course replied with some bks about how I must have agreed to it during a phone call.

So beware... people CAN extract money from you even with just the basic numbers.

yes but that is clearly an error rather than a malicious access to your account. Additionally, Virgin were an approved company which wouldn't be the case for a malicious individual.

[V8mate]

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

I actually remain dumbfounded at the counter service in my bank. (the lefty moralistic one).

Wander in, chuck debit card over the counter, ask for a couple for grand in cash, sign a chit, leave with cash. No PIN, no secondary ID, no questions.

Easy for the customer? Yes.
Secure? No

Surely some counter top card terminals (like in the Post Office) but without the handling limits of an ATM would be a cheap solution, improving the security massively?

[Silver993tt]

V8mate said:

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

I actually remain dumbfounded at the counter service in my bank. (the lefty moralistic one).

Wander in, chuck debit card over the counter, ask for a couple for grand in cash, sign a chit, leave with cash. No PIN, no secondary ID, no questions.

Easy for the customer? Yes.
Secure? No

Surely some counter top card terminals (like in the Post Office) but without the handling limits of an ATM would be a cheap solution, improving the security massively?

Really, I have to put the pin mumber in even if I'm paying money into my account at a branch and that's with Nat West.

Edited by Silver993tt on Thursday 27th May 09:03

[iggletiggle]

V8mate said:

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

I actually remain dumbfounded at the counter service in my bank. (the lefty moralistic one).

Wander in, chuck debit card over the counter, ask for a couple for grand in cash, sign a chit, leave with cash. No PIN, no secondary ID, no questions.

Easy for the customer? Yes.
Secure? No

Surely some counter top card terminals (like in the Post Office) but without the handling limits of an ATM would be a cheap solution, improving the security massively?

Same.. i can walk into any branch and ask for an amount, sign a piece of paper and walk away with cash in hand...

handy as hell for me but also handy for Mr Criminal...

Edited for poor spelling

Edited by iggletiggle on Thursday 27th May 09:25

[Steameh]

iggletiggle said:

V8mate said:

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

I actually remain dumbfounded at the counter service in my bank. (the lefty moralistic one).

Wander in, chuck debit card over the counter, ask for a couple for grand in cash, sign a chit, leave with cash. No PIN, no secondary ID, no questions.

Easy for the customer? Yes.
Secure? No

Surely some counter top card terminals (like in the Post Office) but without the handling limits of an ATM would be a cheap solution, improving the security massively?

Same.. i can walk into any branch and ask for an amount, sign a piece of paper and walk away with cash in hand...

handy as hell for me but also handy for Mr Criminal...

Edited for poor spelling

Edited by iggletiggle on Thursday 27th May 09:25

Where I used to work we would do that, except we would also ask some security questions about the account, such as money in, direct debits out etc.

[Famous Graham]

iggletiggle said:

V8mate said:

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

I actually remain dumbfounded at the counter service in my bank. (the lefty moralistic one).

Wander in, chuck debit card over the counter, ask for a couple for grand in cash, sign a chit, leave with cash. No PIN, no secondary ID, no questions.

Easy for the customer? Yes.
Secure? No

Surely some counter top card terminals (like in the Post Office) but without the handling limits of an ATM would be a cheap solution, improving the security massively?

Same.. i can walk into any branch and ask for an amount, sign a piece of paper and walk away with cash in hand...

handy as hell for me but also handy for Mr Criminal...

Edited for poor spelling

Edited by iggletiggle on Thursday 27th May 09:25

Ditto with Nationwide. Doesn't bother me too much from a personal PoV as there's fk all in the account anyway, but on a wider level, it's a bit scary.

[Driller]

V8mate said:

Driller said:

How the heck could any bank allow access to money in an account with just the acc. no. and sort code?

I can't believe that.

I actually remain dumbfounded at the counter service in my bank. (the lefty moralistic one).

Wander in, chuck debit card over the counter, ask for a couple for grand in cash, sign a chit, leave with cash. No PIN, no secondary ID, no questions.

Easy for the customer? Yes.
Secure? No

Surely some counter top card terminals (like in the Post Office) but without the handling limits of an ATM would be a cheap solution, improving the security massively?

They must ask for some kind of photo ID surely?!

Over here in France the amount of paper and administration drives me insane but there is just no way that you could crack the system in this way.

[paulrockliffe]

Silver993tt said:

Really, I have to put the pin mumber in even if I'm paying money into my account at a branch and that's with Nat West.

Edited by Silver993tt on Thursday 27th May 09:03

And the money is then in your account within seconds. Awesome isn't it!

[Silver993tt]

paulrockliffe said:

Silver993tt said:

Really, I have to put the pin mumber in even if I'm paying money into my account at a branch and that's with Nat West.

Edited by Silver993tt on Thursday 27th May 09:03

And the money is then in your account within seconds. Awesome isn't it!

Depends, if it's a cheque then certainly not.