Is it okay to give a stranger your bank account number?

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asked Dec 25, 2020 in Other-Finance by bradsoflens (870 points)
Is it okay to give a stranger your bank account number?

2 Answers

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answered Dec 25, 2020 by Cathy21 (31,510 points)
Giving a stranger your bank account is usually OK because with just the bank account number the stranger cannot do much.

The stranger would need your bank account number, routing number and other information to actually remove money from your bank account or hack into it.

Your bank account number and routing number are clearly marked on your checks so you always give out your bank account number and routing number without even realizing it.

High Security Checks are worth it for business use but not for personal use.

I've used normal checks for years and nothing has happened to me from the use of the regular checks so to me the high security checks are not worth the extra expense.

I only write checks now and then for some bills or to pay someone for something but that's about all I use checks for so the cost of the high security checks is not worth it.

If your check has the wrong address you can usually write in your correct address below or next to the wrong address if the check needs an address.

However the address really does not matter on the checks as long as the check is legit, you sign it and the money is in the account.

The address on checks does not really matter at all.

As long as you sign the check and the money is in the account the check will clear just fine.

You can also order checks without your address on them although some places may be reluctant to take checks without your address.

Someone could do an electronic funds transfer and take money from your bank account with the bank account number but they would also need the routing number as well.

The fraudster could also order checks with your bank account number and routing number and then write them on you.

It's a very small chance of that happening though.

Hackers or fraudsters cannot do much with your bank account number alone.

However if someone wanted to do so the hacker or fraudster could use your bank account number and routing number to order checks on your account.

Then they could write those checks out and deplete your bank account.

Although that is very rare that it happens that way.

The bank account number and routing number are on checks and we give the bank account number and routing number out to strangers all the time.

It's very low risk that someone would do that to your account.

Other than that it requires actually hacking into your bank account to get any amount of money out of your account.

checks are safe to use as long as you sign the check with your name.

I've used checks for years and nothing bad has happened.

Although there's the possibility of someone forging your name to checks it cannot happen as easily when you write someone a check and sign it yourself.

You do leave a paper trail when cashing a check or even depositing a check.

Cashing or depositing checks does leave a paper trail.

The bank also keeps records of any checks you cashed or deposited and the deposits get legally reported to the IRS.

When you cash a check at your bank the cashed check will be listed on your bank account and the bank will keep records of that cashed check for awhile.

So yes cashing the check does leave a paper trail and whenever you cash enough checks they can also get reported to the IRS.

Cashing checks also leaves an electronic trail and the only way to not have an electronic trail or leave a paper trail when it comes to money is to use cash when possible.
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answered Apr 14 by Omeres (980 points)

Hello. It could end very badly. You should never give your bank account number to strangers. Also, your bank cannot disclose information about your accounts to anyone and ensure complete confidentiality of your data. You can see more information about which bank I personally use. Also there you can find its location and working hours.

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