Is it ok to give someone your bank acct # to deposit $$ into your account?

Iceman · Feb 22, 2007

I brought this up to a few people the last few days and they say don't do it. But the more I think about it, what is wrong with it? You can get someone's name and account number off a check anyways, right?

If someone owed you money and lived far away from you than wouldn't this be the smart thing to do. Just give them your bank and your account number and let them deposit into your account.

No harm could be done, correct? Just seems simple to me and nothing dangerous about it or am I missing something?

MrCleo · Feb 22, 2007

no harm, I have been on both sides, the one depositing/one receiving, several times

CalvinTy · Feb 22, 2007

You have to remember that whether via a paper check (which actually has more intimidating information than simply sharing the bank account # verbally) or shared electronically, anybody with your bank account AND routing number could go online and establish an ACH payment to pay their bills to your banking account. They'd already have your name, account number, and ROUTING number... the 3 key information that most online utilities need for you to make an electronic payment.

This may be a bad example since with utilities, I'm sure they would wonder why the paying bank account/routing nbr has a different name than the person who's paying the bill, but if they accept it, you have a mess.

I'm sure there are more discriminating ways and better examples than those.

* CalvinTy

Iceman · Feb 22, 2007

CalvinTy said:
You have to remember that whether via a paper check (which actually has more intimidating information than simply sharing the bank account # verbally) or shared electronically, anybody with your bank account AND routing number could go online and establish an ACH payment to pay their bills to your banking account. They'd already have your name, account number, and ROUTING number... the 3 key information that most online utilities need for you to make an electronic payment.

This may be a bad example since with utilities, I'm sure they would wonder why the paying bank account/routing nbr has a different name than the person who's paying the bill, but if they accept it, you have a mess.

I'm sure there are more discriminating ways and better examples than those.

* CalvinTy

so who is to say that if you write someone a check for whatever reason out of your account than all that information you described is already on that check, right?

CalvinTy · Feb 22, 2007

Iceman said:
so who is to say that if you write someone a check for whatever reason out of your account than all that information you described is already on that check, right?

Right. As I typed that, I realized a paper check was more dangerous than I realized. I am glad I have not used paper checks in ages to anybody that was other than a bill.

As for the scenario of just allowing someone to have your account number *ONLY* for depositing purposes only, I can see why you feel it's kind of harmless. I know my parents in the past when I lived with them had deposited checks for me since I had a long commute and the bank's hours had coincided with my commute.

I just think that a crooked person would be able to make use of having "your name & banking account number" in their possession, that's all.

* CalvinTy

goodcall · Feb 22, 2007

I know someone that got charged for a BlueHippo computer that they didn't buy. Apparently all BlueHippo needs is an account number...they came to the conclusion that someone just got their acct# off of one of their checks.

Halifax · Feb 22, 2007

Sounds to me like Iceman's been getting some of the Nigerian spam e-mails.

fucnluc · Feb 22, 2007

That's how people deposit money into your account.....they need an account #

If it's a bank wire, they need an account # and a routing #.......

Iceman · Feb 22, 2007

I have a buddy in another state who owes me money and we talked about ways for him to make payments to me. Another guy I know said not to do this if you dont trust the guy and I was jus wondering if this was common and told my 2nd buddy that their is no real worries and he said there was.

aceduecetrey · Feb 22, 2007

I am not sure how things have changed in the last 3 years or so, but that was one of our easiest ways to have a client pay us and we had very little problems. We simply gave them our Bank of America acct # and then they would do it no problem (we would tell them we needed the transaction number, but that was total bullshit). I am surprised that more touts/books have not followed suit. (maybe it has become harder?)

ClubmanCoop · Feb 22, 2007

Done it up here many times
And I have a friend that has a friend.....:lol: , that get his brother (in US) to send funds, so with 1 call, still has an out with Pinny :suomi:

sidingman · Feb 22, 2007

Thats the way i settle with my book every week.

afflalo · Feb 22, 2007

Iceman said:
I have a buddy in another state who owes me money and we talked about ways for him to make payments to me. Another guy I know said not to do this if you dont trust the guy and I was jus wondering if this was common and told my 2nd buddy that their is no real worries and he said there was.

If you two have the same bank, you can transfer money to each other accounts, up to 1000, i believe. Thats how I make transactions.

Labeeb · Feb 22, 2007

Would all of these withdrawls, deposits, and transfers be grounds for a SAR to be filed?

joeyfitzclick · Feb 22, 2007

All my tenants pay their rent directly into the appropriate account. i give the account number no problem.

BadCo · Feb 22, 2007

This site is a treasures trove for the feds

:monsters-

Is it ok to give someone your bank acct # to deposit $$ into your account?

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