How safe is your bank account if...

[bloodhound31]

on your website you put up the account name, number and BSB for all to see, can anyone really do anything bad with it?

I notice IIS has a place to donate and their bank details are up for all the world to see. Is this dangerous?

Baz.

[toryglen-boy (Duncan)]

dont think i would be happy with that, but then again i am a bit paranoid about this.


still, what do i know!!


LOL

[bloodhound31]

Originally Posted by toryglen-boy

dont think i would be happy with that, but then again i am a bit paranoid about this.


still, what do i know!!


LOL

Hey HOWDY! Stranger!! Where have you been? I've missed you around here mate!

[toryglen-boy (Duncan)]

Bless.

Dealing with court cases, depression, and all round general nastiness, removed myself from society, and now on the up

I am only paranoid, as on my first week in Australia, i opened an account, and while they bank staff said my card had been sent out, they never checked, someone had intercepted it, and emptied my account!!

grrr ...

[gary]

Originally Posted by bloodhound31

on your website you put up the account name, number and BSB for all to see, can anyone really do anything bad with it?

I notice IIS has a place to donate and their bank details are up for all the world to see. Is this dangerous?

Baz.

Hi Baz,

Though public knowledge of an organization's account name, BSB and number
is not without the well publicized risks, nevertheless it is the standard modus
operandi for B2B transactions within Australia at the present time. In the business
world, we all know each other's account details and even some of the multi-billion
dollar multi-national suppliers simply pass on their account details to make
invoiced payments into whenever they supply us with goods or services.

Most businesses prefer this mechanism because it does not incur the same
high transaction costs of credit cards and can be used for payments of large
sums of money.

[SkyViking (Rolf)]

I can't imagine it to be a problem, what about all the bank account numbers companies put on their invoices?
But I have experienced scepticism about it many times myself, for example when having to call trades people to ask for their bank account number because it was not on their invoice. I just wanted to pay them.... but sometimes they are so paranoid it seems they'd prefer not getting paid rather than giving me their bank details

[TrevorW]

No problem

access to bank accounts requires passwords online, signatures etc in person with appropriate card and the code to access a bank account online is different than the actual account number

however I would if I was you setup a seperate account purely for online transactions that is not linked to your access cards then monitor it and keep the balance minimal

[multiweb (Marc)]

Advertising a BSB account# is not a security risk. Revealing your customer number (online banking) is bad. Revealing your pin is worse obviously.

[Barrykgerdes]

Giving a bank a/c number and access is no problem if there is nothing in it. The only way it can then move is up!
Just keep your eye on the balance and draw it out if it contains anything!


Barry

[supernova1965 (Warren)]

Providing your BSB and account number only allows someone to deposit funds in your account. To withdraw funds a card and pin are required - or, if transferring funds out of your account online, your client ID and password are required. Most banks also provide an SMS code that is sent to your mobile - this is needed before any funds can be transferred to a new account.
If you gave me your BSB and A/c # I couldn't go into the bank and take money out - I would have to sign your name and have the signature verified by comparison with the one they have on record. Banks still require proof of identity on top of the signature (cashcard, drivers licence etc). Phone banking also requires a password.
Handing out your credit card details is another matter!

[GTB_an_Owl (Geoff)]

i have given this advise over and over again to those that ask me

if you want to use the internet for banking - you have TWO accounts
MAIN account
Working account

work out what your monthly outgoings are and add a little to that just in case
transfer that amount from your main account to the working account

top up your working account as required (at the end of the month or as required)

YOU WILL NEVER LOSE ANY MORE THAN IS IN YOUR WORKING ACCOUNT

and if fraud is proven - your bank will replace that amount anyway

geoff

[bloodhound31]

Thanks very much gang, for all your sound advice.

Baz.

[FlashDrive (Poppy)]

Originally Posted by GTB_an_Owl

i have given this advise over and over again to those that ask me

if you want to use the internet for banking - you have TWO accounts
MAIN account
Working account

work out what your monthly outgoings are and add a little to that just in case
transfer that amount from your main account to the working account

top up your working account as required (at the end of the month or as required)

YOU WILL NEVER LOSE ANY MORE THAN IS IN YOUR WORKING ACCOUNT

and if fraud is proven - your bank will replace that amount anyway

geoff

Spot on Geoff .... That's exactly what I do ...

Flash

[midnight (Darrin)]

Originally Posted by GTB_an_Owl

i have given this advise over and over again to those that ask me

if you want to use the internet for banking - you have TWO accounts
MAIN account
Working account

work out what your monthly outgoings are and add a little to that just in case
transfer that amount from your main account to the working account

top up your working account as required (at the end of the month or as required)

YOU WILL NEVER LOSE ANY MORE THAN IS IN YOUR WORKING ACCOUNT

and if fraud is proven - your bank will replace that amount anyway

geoff

Totally agree. This is generally what I do. Use your bank auto or scheduled payments to do this automatically for you and manually adjust occassionally.

My main grief with BSB & A/C is that it is commonly believed that they are safe if the password/client no. etc is not revealed. This is not quite so as direct debit is a form of auto debitting without pin numbers/password etc. You do need an authorisation piece of paper though (usually signature) but this is one of the more common ways to siphon money without pins/access no/passwords etc. Just be careful when letting your BSB and AC details out.

Cheers,
Darrin...

[Waxing_Gibbous (Peter)]

All the details you would give an employer or indeed, anyone to whom you would write a cheque are freely available these days.
However, they all mean diddly-squat without your password(s) or other security check.
Simply knowing your account number and BSB will NOT allow anyone to access your account..
Also, modern electronic banking uses heuristic algorithms to determine your spending habits.
Anything out-of the-ordinary is flagged and put on hold.
No system is perfect of course, but if by some happenstance your security codes are made public and you are fleeced, the bank will cover it for you.
Pretty darn quick in my experience!

Last year, some miscreant tried to charge a flight to Switzerland (?!) on my MC number.
The Commonwealth Bank caught it, refunded the charge, upped my credit rating and informed the local plods within 20 minutes.
Sacremento Police caught the twit in 2 hours.
Now he's doing life in San Quentin!
Third Strike rule.
For $1700.
What a putz.

[stephenb (Stephen)]

Originally Posted by GTB_an_Owl

i have given this advise over and over again to those that ask me

if you want to use the internet for banking - you have TWO accounts
MAIN account
Working account

work out what your monthly outgoings are and add a little to that just in case
transfer that amount from your main account to the working account

top up your working account as required (at the end of the month or as required)

YOU WILL NEVER LOSE ANY MORE THAN IS IN YOUR WORKING ACCOUNT

and if fraud is proven - your bank will replace that amount anyway

geoff

+1 - been doing this for years.

Regards,
Stephen