Your receiver's first and last name, to be entered as it appears on their government-issued ID. Your receiver's country, and in some cases*** their full address.
The full name of the recipient. The amount of money you want to transfer. Your recipient's 6-digit sort code. Your recipient's 8-digit account number.
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.
First let's clear up one myth - giving out your bank account number and BSB is fine. "There is no issue in giving out your BSB/account details as it's only possible to deposit funds rather than withdraw funds," an ING spokesperson told Money. "If an unauthorised debit occurs then the debiting institution is liable."
It's generally considered safe to give out your account number and sort code, but you should always use common sense and avoid sharing your bank details with people you don't know or expect payments from.
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.
The safest way to receive money from a stranger is to enquire about the money transfer service provider that they are using to send you money. Make sure that you also trust the person who's requesting the money– ensuring that they're not doing so by putting undue pressure on you to provide a monetary gift.
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.
If fraudsters can combine your bank details and other easy-to-find information — such as your Social Security number (SSN), ABA or routing number, checking account number, address, or name — they can easily begin to steal money from your account.
Be stingy with your banking information to avoid bank scams. Know that less is best when it comes to sharing info: Avoid giving your account and routing numbers to people you don't know. Another tip to prevent fraud: Go for multi-factor authentication when banking online.
Giving your bank account numbers to individuals or entities you don't know can be risky. If you're asked to share your account information, verify that the request comes from a trusted source.
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.
A bank transfer scam – also known as an authorised push payment (APP) scam – occurs when you transfer money from your bank account to a scammer's bank account under false pretences. Bank transfer scams occur when a scammer tricks a victim into transferring money.
Wire Transfer
This is the most secure and instantaneous way to deliver money online between disparate banks. Receiving a wire transfer, however, requires you to give your payer a cumbersome amount of banking information, including your account number and bank routing number.
Most scammers will ask for money while pretending to “pay you back.” The most common way they do this is to send you a check for an amount that is greater than the amount of money they ask you to pay them through a money transfer or gift card.
PayPal's safety features
All customer data is encrypted and securely stored. Transactions are monitored 24/7 to look out for suspicious activity. Buyer and seller protections are in place. Accounts are verified as required by law.
Generally speaking, Zelle and Venmo are safe. Both incorporate security features into their apps, such as data encryption, purchase verification, multifactor authentication and fraud protection.
If you need to send money from Australia to a recipient in the United States of America, one of the most efficient ways to do so is via international money transfer through a licensed provider, like a bank or a specific money-transferring company.