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FYI, in europe, the bank account number (IBAN) is public and you can't do anything with it except wire money to it
by Faaak 7y ago
FYI, in europe, the bank account number (IBAN) is public and you can't do anything with it except wire money to it
- krageon 7y agoThis is wrong, and has in fact always been wrong (even in the old system you could use a bank acc number, an address and a name to take money from an account). You can take money out of bank accounts with just IBAN and a name (though even the requirement for a name is spurious). Of course there are legal repercussions and usually the bank refunds your money - but that's when it is already too late. The banking system you are talking about is built entirely on trust.
- gnnnni 7y agoInteresting, do you have any source for that? How would do that using only IBAN and a name (i.e. without faking a signature, having the PIN number, a compromised device etc.)
- krageon 7y agoSony Entertainment Online used to do billing in exactly this way, that is something you could check out. I'm not comfortable sharing what I see as an easy way to exploit trust online.
- nloomans 7y agoIt's called Direct Debit: https://en.m.wikipedia.org/wiki/Direct_debit https://en.m.wikipedia.org/wiki/Direct_debit
- nloomans 7y agoAt least with the bank I use (bunq) I get notifications for such transfers and I need to manually approve them for the transfers to take place. If it's a recurring payment I can set it up so it automatically allows transfers up to a specified amount monthly.
- krageon 7y agoWhile it's great for you that this is the case, this is not the norm.