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IS IT SAFE TO GIVE OUT YOUR BANK ACCOUNT DETAILS?

IS IT SAFE TO GIVE OUT YOUR BANK ACCOUNT NUMBER?

 Only if you know the person directly, or it is a party that is bonded, i.e. under guarantee, for example employment Agency, Contractual Counter Party and need to receive money from them and have their registered address.

If you are making a payment to a third party always do it through a debit or credit card as you can recall it; or use the transaction confirmation as evidence in Court of recovery of what is in effect a fraudulent transaction. In the UK, we have a specific section of The Consumer Credit Act 1974 , which deals with situations relating to Credit Cards and fraudulent transactions.

Only share bank details with people who you know and trust or can be traced if legal recovery needs to be taken. That includes not only the name of the company, but the person who struck the deal and the names of the Directors of the company/business as they (Directors) can be sued for fraud.

Never give out ATM PINs/security pin(mobile transfer, or other clearence authorisations where the person could access your bank account more than once. This is true particularly when they are taking details over a card procressor of your Credit Debit /Credit Card and should ask for the 16 digit card number, name on the card and expiry date. If they ask more information that becomes intrussive, ask to speak t
o a Supervisor and Manager to verify them.

Stay Safe!

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