Direct Debit fraud occurs when a debit is taken from your account without the proper authority from you set out in a valid Direct Debit request. Sometimes this has happened when BSB and account numbers published online or in a public document have been used via Direct Debit to debit accounts.
To keep your information safe, we suggest only providing your BSB and account number to people you know and trust (such as family, friends or your employer etc.)
But if scammers gain access to your bank account number, they can use it for fraudulent ACH transfers or payments. For example, scammers could use your bank account details to buy products online. Or worse, they could trick you into sending them money that you'll never be able to get back.
If you do enter the wrong account or BSB number the payment will be made to the wrong account (unintended recipient). This is known as a mistaken internet payment. The ePayments Code sets out a process that will help consumers get your money back if it has gone to the wrong account.
Frauds: This is the biggest reason for not giving your bank account number to just about anyone. Banks clearly suggest not sharing your bank account details unless you are expecting a fund transfer. Even in the case of fund transfer, make sure that the person crediting your bank account is trustworthy.
Also, you should never share your personal banking details, such as PIN, card number, card expiry date and CVV number (that's the three digit number, which, in Starling's case can be found on the right side of the signature strip).
The easiest way to become a victim of a bank scam is to share your banking info — e.g., account numbers, PIN codes, social security number — with someone you don't know well and trust. If someone asks for sensitive banking details, proceed with caution.
Sending money domestically or internationally via bank or wire transfer is safe to do. But only if you are 100% confident about who the recipient is. Most bank transfer fraud is done through mistaken identity – rather than a fault in the system.
Go to your notifications in the CommBank app or check your NetBank inbox and enter the password. If you don't receive it, call 13 2221. Choose the accounts you'd like to share. If a joint account is enabled for data sharing, you'll be able to select it, otherwise you'll need to enable it first (see below).
It's not the same as a scammer obtaining your credit card digits. No one will be able to withdraw money from your personal bank account if all they have is your account number.
Consumer money fraud is on the rise. Chances are, be it through a credit card or plain old cash hacking, we've all come across phishing or fraud at least at some point. Scammers can get a hold of your bank account information and simply start plucking away at your balances.
What is the safest way to accept payment? Besides cash, a certified check is the safest way you can receive a payment to your business.
You can visit your bank and fill out a form with your account information and amount you want to take out and present it to a teller. Work with a bank teller. Let the teller know you don't have a card, and they can walk you through the bank's process of retrieving money from your account.
Can I change my BSB number? Because BSB numbers are linked to specific bank branches, the only way in which you can change your BSB number would be to open a new bank account with a different branch or a different bank altogether.
When you want to transfer money to someone, you'll need the recipient's BSB as well as their account number. And you'll need to give your BSB and account number to anyone transferring money to you. Did you know?
When you set up a direct debit using your BSB and account number, it allows a merchant or service provider to withdraw an agreed amount of money from your account into a merchant's or service provider's account at set times. For example, to pay for a service, bills, or make repayments on your home loan.
By and large, credit cards are easily the most secure and safe payment method to use when you shop online. Credit cards use online security features like encryption and fraud monitoring to keep your accounts and personal information safe.
This is means that, on the whole, bank transfers are a safe way to send money, but you should also exercise caution when using them. Luckily, many forms of bank transfer have rigid security features built into them to combat fraud and avoid mistaken payments.
If scammers have access to your phone number, they could potentially use it to hack into your online accounts — including your email, social media, and even your bank account.
Competitions and quizzes – particularly those found on social media websites. Calling you and pretending to be a trusted organisation. Companies who sell your email address or phone number - always read terms and conditions when signing up for a product or service. Bank statements, post and paper documents.