3 ms·

We don’t even use checks where I live, so still seems like a geographical thing. I can print out my bank account number and put it on a billboard and all anyone

by j4yav 3y ago

We don’t even use checks where I live, so still seems like a geographical thing. I can print out my bank account number and put it on a billboard and all anyone can do is deposit money.

avereveard 3y ago
Are you sure about that? In Europe Iban is half the info (the other is your identity) needed to create a SDD on an online shop. Granted, you have a year to contest charges and get the money back, but still.
- j4yav 3y ago
  Pretty sure. Every company I interact with puts their IBAN on their invoices, as do I. I have IBANs for several friends and they have mine. I know the names of all these people. HSBC at https://www.business.hsbc.uk/en-gb/solutions/iban-and-bic https://www.business.hsbc.uk/en-gb/solutions/iban-and-bic says you're supposed to give it away to anyone who you want to make a payment to you - presumably they wouldn't do that if it was also the golden ticket to take money out of your account knowing only their name. Or at least they'd be very careful to say that you absolutely should make sure that anyone who pays you doesn't know your name (although, that sounds ridiculous). I have to assume you're using "the other is your identity" in a way different from the thread here where they said all they need to know your name and account number? I have a digital identity which includes a password and multi-factor authentication, but again that's pretty far removed from something like anyone who knows your name and account number can withdraw whatever money they like.
  - avereveard 3y ago
    I see. checked around some provider apparently sepa direct debit is only in selected european countries, it's scary because you just need iban + email to get started, albeit it will likely ask 2fa from the mobile app if one has it set up.
    - j4yav 3y ago
      We have sepa direct debit here where I gave you the examples, and nobody is able to withdraw from each others accounts using the payment info we are all giving to each other. It’s not possible to set up a bank account without a password or 2fa.

by j4yav 3y ago

We don’t even use checks where I live, so still seems like a geographical thing. I can print out my bank account number and put it on a billboard and all anyone can do is deposit money.

avereveard 3y ago

Are you sure about that? In Europe Iban is half the info (the other is your identity) needed to create a SDD on an online shop. Granted, you have a year to contest charges and get the money back, but still.

j4yav 3y ago
Pretty sure. Every company I interact with puts their IBAN on their invoices, as do I. I have IBANs for several friends and they have mine. I know the names of all these people. HSBC at https://www.business.hsbc.uk/en-gb/solutions/iban-and-bic https://www.business.hsbc.uk/en-gb/solutions/iban-and-bic says you're supposed to give it away to anyone who you want to make a payment to you - presumably they wouldn't do that if it was also the golden ticket to take money out of your account knowing only their name. Or at least they'd be very careful to say that you absolutely should make sure that anyone who pays you doesn't know your name (although, that sounds ridiculous). I have to assume you're using "the other is your identity" in a way different from the thread here where they said all they need to know your name and account number? I have a digital identity which includes a password and multi-factor authentication, but again that's pretty far removed from something like anyone who knows your name and account number can withdraw whatever money they like.
- avereveard 3y ago
  I see. checked around some provider apparently sepa direct debit is only in selected european countries, it's scary because you just need iban + email to get started, albeit it will likely ask 2fa from the mobile app if one has it set up.
  - j4yav 3y ago
    We have sepa direct debit here where I gave you the examples, and nobody is able to withdraw from each others accounts using the payment info we are all giving to each other. It’s not possible to set up a bank account without a password or 2fa.