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One of the key features of these apps is that you only need the phone in order to make transfers, that allows you to avoid asking for the account number to anyo

One of the key features of these apps is that you only need the phone in order to make transfers, that allows you to avoid asking for the account number to anyone.

oneplane 5y ago
On the other hand, account numbers are not a significant 'secret' or something like that. They are just as 'safe' to share as phone numbers.
- jokethrowaway 5y ago
  Up to a point. They may be used to create direct debit subscriptions (you just need account details and name), which can be annoying.
- fragmede 5y ago
  For anyone in the US, if I have your bank account number, I can steal your money. I strongly advise you not to share your account number with me or anyone else. I have to commit fraud in order to steal your money, making it a crime, but stealing's a crime in the first place, so that's not going to deter thieves.
  - woodruffw 5y ago
    My understanding is that this is no longer true: only a relatively small set of trusted entities can perform a direct debit (check or check substitute not present) from an account number without having to perform additional verification. The ones that I’ve personally seen are utilities and colleges; I tried to do the same with a friend once (so he could pay me back for something without having any fees) and our banks refused the transaction because our account names did not match.
  - razakel 5y ago
    Jeremy Clarkson fell victim to this. He published his bank details in his column to prove it was no big deal, and someone set up a £500 direct debit to charity.
    - dr_dshiv 5y ago
      Wow, I had no idea about Mr. Clarson's experience [1]. Is this also true in the USA? [1] http://news.bbc.co.uk/2/hi/entertainment/7174760.stm http://news.bbc.co.uk/2/hi/entertainment/7174760.stm
- ethbr0 5y ago
  Think about it this way: a check is just an account number on some fancy paper, with a few more numbers.
  - razakel 5y ago
    Technically speaking you can write a check on anything. One company paid their tax with one written on a 150lb halibut. https://mobile.twitter.com/barclays/status/773863108951601152?lang=en https://mobile.twitter.com/barclays/status/77386310895160115...
- oneplane 5y ago
  Replying to myself here since the edit time expired: this does of course depend on where you live; in the context of the thread and the while fintech popularity in various places around the world and the EU not really having much use for that, this is because you can safely transfer money around without the risk of someone abusing your 'secret bank number'. In the US and probably other places as well this is more like an SSN where just having the number allows you to do all sorts of (criminal) abusive things.

One of the key features of these apps is that you only need the phone in order to make transfers, that allows you to avoid asking for the account number to anyone.

oneplane 5y ago

On the other hand, account numbers are not a significant 'secret' or something like that. They are just as 'safe' to share as phone numbers.

jokethrowaway 5y ago
Up to a point. They may be used to create direct debit subscriptions (you just need account details and name), which can be annoying.
fragmede 5y ago
For anyone in the US, if I have your bank account number, I can steal your money. I strongly advise you not to share your account number with me or anyone else. I have to commit fraud in order to steal your money, making it a crime, but stealing's a crime in the first place, so that's not going to deter thieves.
- woodruffw 5y ago
  My understanding is that this is no longer true: only a relatively small set of trusted entities can perform a direct debit (check or check substitute not present) from an account number without having to perform additional verification. The ones that I’ve personally seen are utilities and colleges; I tried to do the same with a friend once (so he could pay me back for something without having any fees) and our banks refused the transaction because our account names did not match.
- razakel 5y ago
  Jeremy Clarkson fell victim to this. He published his bank details in his column to prove it was no big deal, and someone set up a £500 direct debit to charity.
  - dr_dshiv 5y ago
    Wow, I had no idea about Mr. Clarson's experience [1]. Is this also true in the USA? [1] http://news.bbc.co.uk/2/hi/entertainment/7174760.stm http://news.bbc.co.uk/2/hi/entertainment/7174760.stm
ethbr0 5y ago
Think about it this way: a check is just an account number on some fancy paper, with a few more numbers.
- razakel 5y ago
  Technically speaking you can write a check on anything. One company paid their tax with one written on a 150lb halibut. https://mobile.twitter.com/barclays/status/773863108951601152?lang=en https://mobile.twitter.com/barclays/status/77386310895160115...
oneplane 5y ago
Replying to myself here since the edit time expired: this does of course depend on where you live; in the context of the thread and the while fintech popularity in various places around the world and the EU not really having much use for that, this is because you can safely transfer money around without the risk of someone abusing your 'secret bank number'. In the US and probably other places as well this is more like an SSN where just having the number allows you to do all sorts of (criminal) abusive things.