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A question about banks

Discussion in 'Personal' started by Middlemarch, Jun 19, 2011.

  1. Middlemarch

    Middlemarch Star commenter

    I've been pondering this and decided there would be someone on TES who would know the answer.
    My bank recently informed me that they plan to do away with cheques soon, which presumably means that in order to pay people or be paid, bank account details will have to be supplied.
    Those Nigerian scams, whereby you get an email asking you to help move wodges of cash by letting them put it into your bank account (and then they empty your bank account) - they presumably happen because people give their bank account details to the scammers. But do they give more than merely the information you'd have to give to someone who wanted to pay money into your account? Surely they must, otherwise it would be very simple to get hold of anyone's money merely via this information (which is on each cheque you write anyway)?
    Therefore, are we at more risk once we have to bandy our bank account details around to other people?


     
  2. Middlemarch

    Middlemarch Star commenter

    I've been pondering this and decided there would be someone on TES who would know the answer.
    My bank recently informed me that they plan to do away with cheques soon, which presumably means that in order to pay people or be paid, bank account details will have to be supplied.
    Those Nigerian scams, whereby you get an email asking you to help move wodges of cash by letting them put it into your bank account (and then they empty your bank account) - they presumably happen because people give their bank account details to the scammers. But do they give more than merely the information you'd have to give to someone who wanted to pay money into your account? Surely they must, otherwise it would be very simple to get hold of anyone's money merely via this information (which is on each cheque you write anyway)?
    Therefore, are we at more risk once we have to bandy our bank account details around to other people?


     
  3. We haven't had cheques in Germany for a couple of decades.
    All money is transfered by debit or credit, or by filling in a form (which looks similar to a cheque) which you hand in to the bank.
    If you do online banking (most of us do here) the site is secure. Nobody can get to your details.
    If you buy via ebay, etc. then most of us use paypal - or give bank account number and bank sorting code. Without a pin number, nobody can access your account to debit money. The only other way to debit money is if you have a direct debit or give explicit written permission for money to be debited.

     
  4. Middlemarch

    Middlemarch Star commenter

    Thanks for a quick response, CQ.
    I do online banking and feel fine about it, but I was really also curious about how the scammers manage to clear people's accounts, etc.
    A small amount of paranoia, I admit, mixed with curiosity!
     
  5. It is big business. A crack can access your account or use an ATM to get money. However, if you check your account regurlarly, this should not happen, as you can immediately report such things and get your account "frozen" for all others. Of course, most of these scams play on stupidity. To believe that a Nigerian lawyer has suddenly found your long lost millionaire Aunt from Peru is just daft.
    Believe me, if Germany doesn't use cheques, the system is safe! (I don't know if your system will be the same as ours).
     
  6. Cheques have your bank account details on them
     
  7. Middlemarch

    Middlemarch Star commenter

    I know - I said this in my OP.
    I'm after how they do the scamming and if it's merely through that basic information. My view is 'surely there's more to it than that?'
     
  8. I actually cannot remember what a cheque looks like or what is on one. I haven't filled one out in nigh on 20 years.
    What details are on there?
     
  9. Middlemarch

    Middlemarch Star commenter

    I'm not clinging on to cheques like my dad did, by the way (he refused to use his debit card until Morrison's forced him by refusing to accept cheques any more) - I haven't written one in I don't know how long.
     
  10. Middlemarch

    Middlemarch Star commenter

    Name, sort code, bank branch address, bank account number.
    I just want to know what (if any) other information the duped folk gave/give the scammers that enabled them to siphon off their cash.
     
  11. Are they still those long book thingies with a stub you keep?

     
  12. Permission.

     
  13. Middlemarch

    Middlemarch Star commenter

    I think so. I don't know if I've actually still got one. I do all my banking online, but I'm really curious about this!
     
  14. Sorry you lost me

    There is no additional information

    They use hacking software to access passwords etc
     
  15. Me too.
    It actually got me thinking - there was a recent thread about "what have you not taught your children" (paraphrased).
    My children have no idea what a cheque is! I think most young adults here have no idea what a cheque is either!
     
  16. Yes, although you also need to check the wording. They are normally worded so that you unwittingly agree to your account being debited.
     
  17. Lara mfl 05

    Lara mfl 05 Star commenter

    Just a little warning .I received an e-mail today ostensibly from Lloydstsb saying that someone had had unauthorised access to my account & they were temporarily 'suspending' my account.They said how 'security of my account was their major concern'.
    To 're-activate it' it was asking for all my details incl passwords etc.
    Now obviously, I realised it was a scam; as it wasn't addressed to a particular member of the family (we have our own dedicated one used by the whole family), it required details which no bank would ever ask for etc but I wonder how many people would panic & supply such details?
    So watch out people. I have had a similar one in the past from a bank which I don't actually bank with, so that was more obvious.
     
  18. Middlemarch

    Middlemarch Star commenter

    Which means, presumably, that anyone who could get hold of the information that is currently already on your cheques could use such software to hack into your account?
    Which does mean that the more often you supply these details to someone, the more risks you're taking? Or am I way off beam here?
     
  19. Sorry, I was not referring to email scams but to general ... we have your bank details by whatever means and will now hack in
     
  20. Wanderer007

    Wanderer007 New commenter

    There's still some life left in cheques if this story is to be believed! [​IMG]
    http://www.bbc.co.uk/news/business-13781682
     

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