Security of Bank Account details

Discussion in 'Finance, Property, Law' started by flex_won, May 16, 2008.

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  1. Hi,

    Please can you provide some advice on providing a seller with my bank account details? For convenience, some sellers prefer a direct bank transfer and to be honest so do I.

    What could happen if my bank account details fell into the wrong hands? If the details were intercepted or they were handed over the the seller?

    For example, someone could set up a direct debit for services or subscriptions with my bank account details and I would lose money from account. I understand that for Direct Debits I am covered by the DD Guarantee and would get a refund but it would be an inconvenience.

    Basically, what is the worst case scenario if my bank details are compromised?

  2. PM me your bank account details and I will compare them with the Banking Security Table we have in the office.

    Only takes a few seconds but some banks have vastly better security policies than others.
  3. I have a second bank account that I use for ebay etc. It has no Over draft and only has around £100 in it at any one time. If some one decides to scam it then they will not get much and my main account is untouched.
  4. Same here anything internet based, goes through a 'spare' account. It only ever has in it the money Ive got from things Ive sold online and has my paypal account verified to it so nothing in theory can touch my current account.
  5. Thanks for the suggestions. How about I turn the question on it's head.

    I have the bank account details of someone that really don't like. How can I f*ck them over?