how to find a persons bank account number

In the SBI cash deposit machine, Follow “Cardless Deposit >>Langauage >> Your Mobile Number >>Account Type >> Beneficiary Account Number“, account holder. Where are the ABA routing and account numbers on my checks? Please visit our Branch Locator to find a branch near you. What is the difference between a. A: The routing number for RRFCU is 311989331. Q: What is my account number for Direct Deposit or ACH withdrawals? A: Your Account number is your 6-digit member.

How to find a persons bank account number -

I would like to be able to have my friend or family member help with my bill-paying and banking. What are my options?

Informal help with money management

If you are still able to handle your banking and bill-paying but would like some help going through the bills and budgeting, a friend or family member can review your bills with you and help you figure out which ones to pay and when. Under this arrangement, you still sign your checks and no one else is authorized to make account transactions.

If you have no friends or family members to help you with informal money management, there are organized programs that provide trained staff members or volunteers to help. To locate a money management program in your area, try contacting your local Area Agency on Aging.

You may also be able to find a money management program along with other resources for Older Americans by contacting the Eldercare Locator or by calling 1-800-677-1116.

If you get help from a money management program, check on whether the program has insurance or bonding so your money is protected in a worst case scenario involving mismanagement or theft by the person assisting you.

Joint account
If you would like to enable a friend or family member to write checks and make deposits on your behalf, you may open a joint account. Generally, everyone whose name is on a joint account can write checks, withdraw money, and make transactions. Similarly, if one of the account holders owes money, the creditor can try to collect from money in the joint bank account.

If the money in your joint bank account belongs to you, is not meant to be a gift to the joint account holder, and is meant to be folded in with your other assets for distribution according to your will or estate plan, you may be taking some risks by opening a joint bank account because:

  • Your friend or family member can withdraw money for his or her own use or mismanage your money
  • Creditors of your friend or family member may use legal processes to try to satisfy their debts from your money in the account
  • When you die, depending on the terms of the account and state law, money in the joint account may be distributed by the bank to the friend or family member whose name is on your account, without regard to the provisions of your will or other estate planning provisions

Convenience account
A “convenience account” or “agency account” enables you to designate a family member or friend to help you by depositing or withdrawing money and writing checks. A convenience account does not change the ownership of the money in the account or give your helper the right to keep the money when you die. Note, however, that any friend or family member you designate to help you can both deposit and withdraw money from your account, which exposes you to the risk that they might withdraw your money for their own use.

Tip: Ask your bank about opening a convenience account or agency account. Often bank employees don’t mention these options or may not know they exist. You may need to speak with a manager.Explain that you want an account in which the money remains yours but someone else’s name will be on the account to help you with bill paying and other transactions. Be sure to say that you don’t want the other person to have the “right of survivorship” if you don’t intend for your money to become your helper’s money upon your death.

Power of attorney (POA) for finances
You can name a friend or family member to act on your behalf by creating and signing a document called a power of attorney (or “durable” power of attorney). In that case, your bank account can remain in your name only, but the person you name in your power of attorney – your “agent” – can help you with banking. If you or your agent shares a copy of the power of attorney document with bank employees, they should honor the document and allow your agent to stand in your shoes to handle your bank transactions.

Again, give considerable thought before you grant anyone power of attorney, as he or she might withdraw money from your account for reasons that you do not specify.

Источник: https://www.consumerfinance.gov/ask-cfpb/i-would-like-to-be-able-to-have-my-friend-or-family-member-help-with-my-bill-paying-and-banking-what-are-my-options-en-1145/

Routing Number Vs. Account Number: What You Need To Know

Bank accounts—including checking accounts, savings accounts and money market accounts—can offer convenient and secure ways to manage your money. While you may swipe your debit card or write checks without thinking twice, it’s helpful to know how banks keep track of your accounts.

That’s where routing numbers and account numbers come into play. Banks, credit unions and other financial institutions use routing numbers to distinguish themselves from one another. They also use account numbers to identify individual customers and accounts.

Knowing your bank routing number and account number matters for things like scheduling electronic payments, setting up direct deposit or sending and receiving person-to-person payments. If you have at least one checking account or another type of bank account, then it helps to know how to find this information when you need it.

What Is a Routing Number?

A bank routing number is a nine-digit number that identifies which financial institution is responsible for the payment of a financial instrument. In other words, it’s the number banks use to identify themselves. The American Bankers Association developed the ABA routing number system in 1910 as a way to tell one bank from another.

The ABA routing number system covers federally and state-chartered banks and financial institutions that process check transactions. It also extends to banks that participate in other activities, such as automated clearinghouses, electronic funds transfers and online banking.

If your bank or credit union maintains an account with the Federal Reserve Bank, then it has an ABA routing number. In fact, only financial institutions that meet this requirement and have a federal or state charter can apply for a routing number with the ABA.

The U.S. is the only country that uses routing numbers to identify banks when sending and receiving money. Foreign banks use something called IBAN instead, which is short for International Bank Account Number.

What Is an Account Number?

An account number is a set of digits used to identify a specific bank account, such as a checking account or money market account. Banks assign account numbers to each account you own.

So, for example, if you open a checking account and a savings account at the same bank, you’d have two different account numbers but just one routing number. If you have checking accounts at two different banks, each would have a unique account number and a unique routing number.

Your account number tells the bank where to add money or deduct money each time new credit or debit transactions are posted. This is similar to the way your Social Security number is used to identify you for lending and credit reporting purposes.

For that reason, it’s important to keep your bank account numbers secure. Otherwise, someone might be able to use your information to access your accounts fraudulently.

How to Find a Bank Routing Number

There are a variety of scenarios where you may need to provide your bank routing number. For instance, you may need a routing number to:

  • Set up direct deposit with your employer
  • Receive a direct deposit of a tax refund or stimulus check
  • Send or receive a wire transfer
  • Receive direct deposit of government benefits
  • Pay your mortgage or other bills online
  • Schedule an electronic ACH payment
  • Link your bank accounts to a budgeting app
  • Send or receive money to friends and family

In terms of how to find your routing number, there are three possibilities.

How to Find Your Routing Number on a Check

If your checking account comes with paper checks, this is the first place you can look for your bank routing number. So where is the routing number on a check?

When you look at the front of a check, you’ll see a space at the bottom with a row of numbers. Specifically, you should see three groups of numbers, separated by a space or special character.

Looking at the bottom of the check, the first group of numbers (labeled “1” in the image above) is the bank routing number. Again, an easy way to tell if it’s your bank routing number is to count the digits and confirm that there are nine. If there are more or fewer than nine digits, odds are you’re looking at your checking account number (labeled “2” above).

How to Find Your Routing Number Online

If you have a checkless checking account or you’ve run out of checks, finding your bank routing number may be as simple as visiting your bank’s website.

Banks and credit unions can publish their routing numbers online as a convenience to customers. Unlike a bank account number, a bank routing number is public information and doesn’t need to be secured or protected.

You may be able to find this number right on the main homepage of the bank’s website. But, if not, you may be able to log in to your account online or via mobile banking to check the routing number.

How to Find Your Bank Routing Number by Contacting the Bank

A third way to get your bank routing number when you don’t have checks or it’s not published online is to simply contact the bank.

A teller should be able to provide your bank’s routing number over the phone, in person or at the drive-through window. This option is helpful if you want to be able to read the routing number back to them to verify that it’s correct.

How to Find Your Bank Account Number

If you’re entering your bank routing number for financial transactions, then you’ll most likely need to provide your checking account number as well. Again, there are a few ways to find this information if you don’t have it readily available.

How to Find Your Bank Account Number on a Check

As mentioned, there are three sets of numbers printed at the bottom of paper checks. The first is the check routing number that’s used to identify your bank.

The second set of numbers should be your checking account number. This number may be anywhere from eight to 12 digits, depending on your bank or credit union.

Your checking account number should be distinct from the routing number. The last set of numbers on your check represents the check number (labeled “3” in the image above). This is typically fewer digits than either the bank routing number or checking account number.

How to Find Your Bank Account Number Online

Getting your bank account number online can be tricky, as banks and credit unions may encrypt this information to protect against fraud or identity theft. For example, when you log in to online or mobile banking, you may only see the last four digits of your account number displayed. Some banks, however, display the full bank account number online and in the mobile app.

Another possibility for getting your bank account number online is downloading a copy of your electronic or paper statement. Depending on the bank, your full account number may be included here, though again, some banks may only provide the last four digits.

How to Find Your Bank Account Number by Contacting the Bank

If you can’t view your bank account numbers online and you don’t have checks, you could ask the bank for the number. Again, you could do this by phone or in person.

Be prepared to provide proof of identity to verify your status as the account owner first. This may mean providing your Social Security or driver’s license number or answering one or more security questions.

How to Manage Routing Numbers vs. Account Numbers

Knowing your bank routing number and account numbers is important if you ever need them for specific financial transactions. But like any other financial information, it’s important to keep your details safe.

Someone could, for example, use your bank routing number and checking account number to order fraudulent checks. Or they may be able to initiate a fraudulent ACH withdrawal of money from your account.

Here are a few tips for managing routing numbers and account numbers securely:

  • Avoid writing down account numbers. Similar to your Social Security number or debit card PIN, you’re better off committing your account numbers to memory if possible.
  • Destroy voided checks. If you have to void a check for any reason, then be sure to destroy it rather than tossing it in the trash.
  • Don’t share account information. Giving out your bank account numbers to individuals or entities you don’t know can be risky. If you’re asked to share your account information, first verify that the request is coming from a trusted source.
  • Be selective about the apps you use.Personal finance apps can make managing your money easier. But they can also be targets for hackers and scammers who may use malware or phishing attacks to steal your information. So, before linking your bank accounts to an app, make sure it’s legitimate.

Aside from security, it’s also important to make sure you’re entering your routing number and account numbers correctly. Entering an incorrect routing number or account number could result in money being sent or received to the wrong account. Double-checking each set of numbers in situations where you’re required to share them for a financial transaction can help avoid banking headaches.

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Источник: https://www.forbes.com/advisor/banking/routing-number-vs-account-number/

To collect the deceased person's cash assets and to have a way to pay the bills, you'll need a bank account for estate funds. Here's how it works.

Once you have been appointed executor by the probate court, you'll probably want to open a bank account in the name of the estate. Usually, an account for an estate is registered this way, or something similar: "Estate of Gerald S. Smith, Deceased, Pamela S. Smith, executor."

What Kind of Account to Open

You'll want an account that allows you to write checks, so you can pay the deceased person's final bills and court costs and eventually distribute monetary gifts to beneficiaries. Which kind of account is right for you depends on your circumstances.

During a typical probate, which lasts less than a year, a basic checking account will work. You can deposit any estate income into it and use the funds to pay debts and expenses. Especially if a significant amount of money is involved, try to find an account that pays at least a small amount of interest.

If you think the estate may be open longer, a checking account might work, but it might be a better idea to set up a single account that can handle both investments and cash. For example, companies such as Fidelity, Charles Schwab, Vanguard, and others offer combined brokerage and cash accounts that let you write checks. Everything shows up on one statement, which greatly simplifies your record keeping.

Don't open an out-of-state account. If you live in a different state than the deceased person did, you may be tempted to open an estate account close to you instead of where the person lived. Don't do it. If the estate earns income in your state, you may have to file a state tax return for that state, too.

Getting a Taxpayer ID Number From the IRS

To open any bank or investment account, you'll need a taxpayer ID number for the estate, which is itself a taxpayer. You can apply for an ID number online, at www.irs.gov. You need to complete a simple form with a confusing title: IRS Form SS-4, Application for Employer Identification Number. Obviously, you're not an employer, but nevertheless this is the form you need.

You can also get a copy of the SS-4 form from Social Security offices or post offices. Fill it in and then either call the IRS (phone numbers are listed on the back of the form) or mail in the form. If you mail in a paper form, you should get your ID number (EIN) back in about four weeks. If you call, the IRS will assign a number over the phone that you can use immediately. You'll still need to write that number on the SS-4 form and mail or fax it to the IRS.

Using the Account

Once you've opened the account, transfer the funds from all the deceased person's bank accounts to it. (But don't touch payable-on-death accounts, which go directly to the named POD beneficiary and are not part of the estate, or joint tenancy accounts, which belong to the surviving joint owner.) Also deposit all income you receive on behalf of the deceased person or that is generated by estate assets—stock dividends, refunds, or rental income from an apartment building, for example.

You can use the money you deposit to pay debts, taxes, and expenses of administration, such as probate court filing fees, and lawyer or other professional fees.

Keep good records of every transaction. When you deposit money, note the amount, date, and source in the checkbook. (If there's not enough room, keep a separate ledger.) When you write a check, write down the amount, date, recipient's name, and purpose.

If more money than you'll need for expenses over the next few months starts piling up in the account, you should probably transfer the surplus to a federally insured interest-bearing account or safe investments such as short-term government obligations. Any new accounts you open should, of course, be held in the name of the estate.

If you incur bank fees because of your own carelessness—an overdraft charge, for example—you'll be personally responsible.

Never mix personal and estate funds. If you ever find it absolutely necessary to pay expenses with personal funds and then reimburse yourself from estate assets, keep meticulous records. For example, say you find yourself at the court clerk's office without the estate checkbook and need to pay a fee. If you write a check from your personal account, be sure to get a receipt and put it in your files. And when you reimburse yourself from the estate account, note exactly why.

For More Information

If you're just getting started as an executor, spend some time looking through the articles we have filed under settling an estate.

Источник: https://www.alllaw.com/articles/nolo/wills-trusts/opening-bank-account-estate-funds.html

Is it safe to give out one's bank account number?

I think the answer depends very much on where you are.

I believe the other answer covers north america.

On contrast, in (continental) Europe, giving the account and bank number (IBAN and BIC) is a (the most) common way to enable someone to send money to you.

E.g. in Germany, you need much more than account number and bank number to withdraw money:

To "push" money to another account (wire transfer from your account to someone who gave you the other account + bank numbers), you either have to hand-sign a certain form, or (online) certain credentials (e.g. login & password / PIN + TAN) are needed. I.e. for defrauding you, the other would need to get your online credentials (for mTAN also your mobile phone, for chipTAN a TAN generator of your bank [easy] and your bank card, for (i)TAN your TAN list) or fake your signature.

There are also ways to allow someone to pull money from your account, see e.g. direct debit

For that you sign that the other side is allowed to withdraw specified amounts of money (at specified dates). This is either

  1. between you and the other (i.e. your bank cannot check and doesn't reject withdrawals that are not authorized). However, the other side needs to have signed a contract with their bank that they'll only try to withdraw money they're entitled to.

  2. or you sign such a thing with your bank (then they do know whether the other side is allowed to withdraw money, and you can tell the bank that you won't accept any further withdrawals from XYZ).

In the first case, the withdrawal technically still needs your approval. In order not to create a huge risk of fraud, the rejecting here is really easy: If you tell your bank that you reject the payment,

  • the bank will immediately roll back the transaction.
  • You need not give a reason for rejecting such a payment,
  • the bank is not allowed to charge you anything for the rejection, and
  • has to give you the interest you'd have gotten if the money had stayed on your account.
  • However, the bank can charge fees to the other side who tried to withdraw money from your account without approval.
  • And of course, it's criminal to try defrauding someone.
  • As the banks are much interested that this procedure is accepted as a safe way of payments, they're much after persons who try to defraud by this procedure.
  • But even if the one who tried to withdraw money was entitled to the money (and you just say "I don't pay"), the bank rolls back the transaction. In that case the other has to go to a civil court to get his money.

The practical rule is that the payment is approved if you didn't reject within the first 6 weeks after the bank sent the account statement. In other words, until 4 1/2 months after the withdrawal (in case you have a bank that does only quarterly account statements), the one to get the money cannot be really sure that he actually has the money.

I think (but I'm not completely sure, maybe someone else can comment/edit) that these two possibilities are also what is used with debit card payments (EC/Maestro card - these are much more common here than real credit card payments).

-- end of Germany specific example --

Источник: https://money.stackexchange.com/questions/15218/is-it-safe-to-give-out-ones-bank-account-number

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When using wire transfer forms, remember to use the correct account number formats to ensure proper delivery.

For Checking accounts, Money Market accounts and Health Savings Accounts (HSAs), the proper account number format is 14 digits long, beginning with 746. Your account number can be found at the bottom of your check, or by clicking or tapping on your account in Patelco Online™ and then selecting the Account Details tab.

 

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Источник: https://www.patelco.org/member-support/digital-banking-services/money-movement

Recycled bank accounts can mean sending money to the wrong person

A chartered accountant and his wife are £1,100 out of pocket after discovering that their son’s old bank account number has been given to someone else. The couple have learned to their cost something that every person who banks online should know: it’s not just things such as paper and glass that are recycled. Banks can, and do, recycle closed account details.

David and Lyndsay Boyack from the Scottish city of Stirling are the latest people to discover that transferring money via online banking can be fraught with peril. But this wasn’t a fat finger error, whereby you erroneously key in the wrong account number and the money goes to an unintended recipient; and it also wasn’t one of those nasty email scams where someone is duped into paying money to a fraudster posing as their builder/carpenter etc.

In this case, Lyndsay made several separate payments into what she thought was her 33-year-old son’s current account, but is actually now someone else’s account – and this person is refusing to give the money back.

Her son’s name, account number and sort code were among the list of payees saved on her system, but unbeknown to her they were no longer her son’s banking details. In fact, he had closed that account some years previously and subsequently opened another one with the same bank, the Clydesdale. What shocked the couple were the revelations that both the same account number and sort code from their son’s old account had been given to someone else, and that no one within the banking system seems to be able to compel this individual to hand back money that isn’t theirs.

The Boyacks’ experience shines a spotlight on the little-known world of current account recycling. Did you know, for example, that your bank account could be “second-hand”? Very little information is available on this, but it is understood that banks typically wait at least three years before recycling closed account details. Clydesdale has confirmed that once one of its accounts has been closed for four years, both the number and sort code can be given to a new customer.

Not all banks do this – HSBC doesn’t, and neither does Santander. And it may be the case that of those banks that do do it, some split the account number and sort code. If all old accounts were recycled to different branches, this would presumably have prevented the Boyacks’ error.

If proposed new rules for online payments outlined last month were in place now, what happened to the Boyacks would not have been able to occur. In future, when a bank customer transfers some money, they will receive a message matching the sort code and account number with the name of the recipient account holder, so they can double check they are paying the right person (see below).

David Boyack, who is 64, admits the whole experience has left the couple frustrated. However, he says they will continue their efforts to recover the money because otherwise it would suggest to him and his wife that “crime does pay”.

The Boyacks made four online transfers of funds from the couple’s Royal Bank of Scotland account over a period of 15 months, unwittingly using the details of their son’s old account, which he had closed in 2006 after moving to Glasgow. The first transfer was £50 in December 2014, followed by £100 in February 2015, £150 in December 2015, and £800 in February of this year.

Recycling account numbers is common practice due to a limit on the amount of numbers available

The couple only realised there was a problem when their son told them the £800 had not arrived. They then realised the same thing had happened three times previously. Initially the couple thought they were the victims of a fraud, and contacted their bank, RBS. When it became clear what had occurred they complained to the Clydesdale. It eventually told them in August that it was unable to give them any more help. In a letter it said it had written twice to the customer who now has those account details to request the money back, “but we have had no response”. The Boyacks then wrote a letter which they asked to be forwarded to the customer, but again there was no reply.

Intriguingly, through a spot of detective work they managed to get hold of the customer’s name and also where he works (a cafe in the Manchester area), although they don’t know his home address. “He’s a young chap and we imagine he has spent the money,” says David. His son managed to contact the man via Facebook, without joy, and now David has sent him a recorded delivery letter, to his workplace, asking him to pay back the debt at a rate of £75 a month or £20 a week.

The couple took their complaint to the Financial Ombudsman Service, but it ruled that the Clydesdale “hasn’t done anything wrong in this situation” and had “made a reasonable attempt to try to retrieve the funds”.

David told Guardian Money that “we do accept some contributory negligence … we [made the transfers] four times”. He acknowledges that if their son had noticed that the first £50 had not arrived then they wouldn’t be where they are now. But he says the FOS has shown itself to be “toothless”, with no solution offered to prevent a recurrence.

“Clydesdale ‘made a reasonable attempt’ – I would have expected more. They contacted their client twice. He did not provide debit authorisation, so that’s it?” he says. “The recipient’s crime is that of unjust enrichment, and I am very keen that he pays back what he has ‘taken’ from us.”

Boyack adds: “Why is there no flag on recycled accounts? Or better still, why is there not a split of the old account number for re-use with a different sort code? Is there no way to validate the recipient’s name as well, to avoid depositing funds in the wrong account in error?”

In a statement Clydesdale Bank told us: “The issues raised have been investigated thoroughly and, while we sympathise with Mr Boyack, regrettably, given the circumstances, we could not provide a refund, and despite our efforts we were unable to retrieve the funds in question. The Financial Ombudsman also upheld our decision not to refund.”

It adds that recycling account numbers is “common practice due to a limit on the amount of numbers available. In this case, the account number had not been used for eight years”.

New safety measures

A system is being introduced in the UK aimed at preventing people from sending payments to the wrong account, either by accident or as a result of a scam. But the bad news is that it isn’t due until 2018-2020.

The “confirmation of payee” system will mean that when someone types in a sort code and account number to transfer some money, they will receive an instant message saying something like “Is ‘Joe Smith’ the person/business you intended to send the money to?” Crucially, this will appear before the money leaves the person’s account.

Many people are unaware that currently the name of the person/company they are paying is effectively irrelevant as banks don’t do any cross-checking.

As the proposals require a major systems change to enable banks to instantly identify recipients, it will be a couple of years before people see it. So what can they do now? As Clydesdale Bank says: “Always double-check the account details you are sending funds to, and check the recipient has received those funds.”

Perhaps it is time to do an end-of-year spring clean of your list of payees and check that everyone’s bank details are up to date.

Источник: https://www.theguardian.com/money/2016/dec/17/recycled-bank-accounts-send-money-wrong-person

How to Attach a Garnishment on a Debtor's Bank Account

By Jason Gillikin

Bank levies may lead to unexpected surprises at the teller's window.

If a court grants you, as a creditor, a judgment in a contested debt case, then the debtor is legally obligated to repay the debt under court order. If debtors do not make good on their obligation, a creditor can file a request for a garnishment to seize part of the debtor's wages. The same process, when used against a bank account instead of a paycheck, is called a "levy" instead of a garnishment.

Obtain an order of judgment from a district court. This order usually follows a lawsuit related to a contested debt, including loan defaults, unpaid rent or outstanding government fees.

Contact the debtor to arrange a payment plan. Most states require a minimum of 30 days after a judgment before any additional legal action to collect the debt will be authorized by a judge.

Return to the court to request proof that you have the right to collect. The name of the document varies by state, but it is typically called a "writ of execution," "writ of garnishment" or "writ of attachment."

Research the possible places your debtor may do his banking. Although banks will not provide account numbers for their customers, you can sometimes verify whether a person has an account--especially at a larger commercial bank.

Visit the local sheriff's office with a copy of your writ and a list of banks to visit. Explain your collection procedure. You may also include a "memorandum of explanation" that details any additional funds you will recover, such as interest or research fees. If your sheriff's office declines to process levies, contact a licensed process server in your community. The process server can also serve a levy.

Wait for your funds to be sent to you by the sheriff's office. You could wait as long as a full month--many banks hold levied funds for up to 21 days before submitting them to the sheriff, and the sheriff may hold them for an additional 14 to 21 days before sending payment to the creditor. This is because the debtor has the right to file a "claim of exemption" to contest your right to take his money.

References

Resources

Tips

  • If you cannot locate any information about your debtor, ask the court to convene a debtor examination hearing. This hearing compels the debtor to appear in court with a list of all of his banking accounts, assets and other sources of income, to make it easier to file a garnishment or levy. If the debtor fails to comply, he can be held in contempt of court and a bench warrant may be issued for his arrest.
  • Depending on your relationship with the debtor, you may wish to employ a process server instead of a sheriff to precisely time the execution of the levy to bank officials. For example, if you know your debtor pays his rent on the first of the month, present the levy on the that day so that you can take your money before his check to his landlord can clear the account. Beware, though--this is a hardball tactic that can further erode a debtor's financial standing.

Warnings

  • Levies can get messy if the debtor has shared bank accounts or commingles ordinary income with income that is exempt from garnishment or levy, such as a pension or child-support payments. Consult with an attorney if you must handle these more complicated cases.

Writer Bio

Jason Gillikin is a copy editor and writer who specializes in health care, finance and consumer technology. His various degrees in the liberal arts have helped him craft narratives within corporate white papers, novellas and even encyclopedias.

Источник: https://smallbusiness.chron.com/attach-garnishment-debtors-bank-account-11973.html

Recycled bank accounts can mean sending money to the wrong person

A chartered accountant and his wife how to find a persons bank account number £1,100 out of pocket after discovering that their son’s old bank account number has been given to someone else. The couple have learned to their cost something that every person who banks online should know: it’s not just things such as paper and glass that are recycled. Banks can, and do, recycle closed account details.

David and Lyndsay Boyack from the Scottish city of Stirling are the latest people to discover that transferring money via online banking can be fraught with peril. But this wasn’t a fat finger error, whereby you erroneously key in the wrong account number and the money goes to an unintended recipient; and it also wasn’t one of those nasty email scams where someone is duped into paying money to a fraudster posing as their builder/carpenter etc.

In this case, Lyndsay made several separate payments into what she thought was her 33-year-old son’s current account, but is actually now someone else’s account – and this person is refusing to give the money back.

Her son’s name, account number and sort code were among the list of payees saved on her system, but unbeknown to her they were no longer her son’s banking details. In fact, he had closed that account some years previously and subsequently opened another one with the same bank, the Clydesdale. What shocked the couple were the revelations that both the same account number and sort code from their son’s old account had been given to someone else, and that no one within the banking system seems to be able to compel this individual to hand back money that isn’t theirs.

The Boyacks’ experience shines a spotlight on the little-known world of current account recycling. Did you know, for example, that your bank account could be “second-hand”? Very little information is available on this, but it is understood that banks typically wait at least three years before recycling closed account details. Clydesdale has confirmed that once one of its accounts has been closed for four years, both the number and sort code can be given to a new customer.

Not all banks do this – HSBC doesn’t, and neither does Santander. And it may be the case that of those banks that do do it, some split the account number and sort code. If all old accounts were recycled to different branches, this would presumably have prevented the Boyacks’ error.

If proposed new rules for online payments outlined last month were in place now, what happened to the Boyacks would not have been able to occur. In future, when a bank customer transfers some money, they will receive a message matching the sort code and account number with the name of the recipient account holder, so they can double check they are paying the right person (see below).

David Boyack, who is 64, admits the whole experience has left the couple frustrated. However, he says they will continue their efforts to recover the money because otherwise it would suggest to him and his wife that “crime does pay”.

The Boyacks made four online transfers of funds from the couple’s Royal Bank of Scotland account over a period of 15 months, unwittingly using the details of their son’s old account, which he had closed in 2006 after moving to Glasgow. The first transfer was £50 in December 2014, followed by £100 in February 2015, £150 in December 2015, and £800 in February of this year.

Recycling account numbers is common practice due to a limit on the amount of numbers available

The couple only realised there was a problem when their son told them the £800 had not arrived. They then realised the same thing had happened three times previously. Initially the couple thought they were the victims of a fraud, and contacted their bank, RBS. When it became clear what had occurred they complained to the Clydesdale. It eventually told them in August that it was unable to give them any more help. In a letter it said it had how to find a persons bank account number twice to the customer who now has those account details to request the money back, “but we have had no response”. The Boyacks then wrote a letter which they asked to be forwarded to the customer, but again there was no reply.

Intriguingly, through a spot of detective work they managed to get hold of the customer’s name and also where he works (a cafe in the Manchester area), although they don’t know his home address. “He’s a young chap and we imagine he has spent the money,” says David. His son managed to contact the man via Facebook, without joy, and now David has sent him hdfc bank internet banking recorded delivery letter, to his workplace, asking him to pay back the debt at a rate of £75 a month or £20 a week.

The couple took their complaint to the Financial Ombudsman Service, but it ruled that the Clydesdale “hasn’t done anything wrong in this situation” and had “made a reasonable attempt to try to retrieve the funds”.

David told Guardian Money that “we do accept some contributory negligence … we [made the transfers] four times”. He acknowledges that if their son had noticed that the first £50 had not arrived then they wouldn’t be where they are now. But he says the FOS has shown itself to be “toothless”, with no solution offered to prevent a recurrence.

“Clydesdale ‘made a reasonable attempt’ – I would have expected more. They contacted their client twice. He did not provide debit authorisation, so that’s it?” he says. “The recipient’s crime is that of unjust enrichment, and I am very keen that he pays back what he has ‘taken’ from us.”

Boyack adds: “Why is there no flag on recycled accounts? Or better still, why is there not a split of the old account number for re-use with a different sort code? Is there no way to validate the recipient’s name as well, to avoid depositing funds in the wrong account in error?”

In a statement Clydesdale Bank told us: “The issues raised have been investigated thoroughly and, while we sympathise with Mr Boyack, regrettably, given the circumstances, we could not provide a refund, and despite our efforts we were unable to retrieve the funds in question. The Financial Ombudsman also upheld our decision not to refund.”

It adds that recycling account numbers is “common practice due to a limit on the amount of numbers available. In this case, the account number had not been used for eight years”.

New safety measures

A system is being introduced in the UK aimed at preventing people from sending payments to the wrong account, either by accident or as a result of a scam. But the bad news is that it isn’t due until 2018-2020.

The “confirmation of payee” system will mean that when someone types in a sort code and account number to transfer some money, they will receive an instant message saying something like “Is ‘Joe Smith’ the person/business you intended to send the money to?” Crucially, this will appear before the money leaves the person’s account.

Many people are unaware that currently the name of the person/company they are paying is effectively irrelevant as banks don’t do any cross-checking.

As the proposals require a major systems change to enable banks to instantly identify recipients, it will be a couple of years before people see it. So what can they do now? As Clydesdale Bank says: “Always double-check the account details you are sending funds to, and check the recipient has received those funds.”

Perhaps it is time to do an end-of-year spring clean of your list of payees and check that everyone’s bank details are up to date.

Источник: https://www.theguardian.com/money/2016/dec/17/recycled-bank-accounts-send-money-wrong-person

How to Attach a Garnishment on a Debtor's Bank Account

By Jason Gillikin

Bank levies may lead to unexpected surprises at the teller's window.

If a court grants you, as a creditor, a judgment in a contested debt case, then the debtor is legally obligated to repay the debt under court order. If debtors do not make good on their obligation, a creditor can file a request for a garnishment to seize part of the debtor's wages. The same process, when used against a bank account how to find a persons bank account number of a paycheck, is called a "levy" instead of a garnishment.

Obtain an order of judgment from a district court. This order usually follows a lawsuit related to a contested debt, including loan defaults, unpaid rent or outstanding government fees.

Contact the debtor to arrange a payment plan. Most states require a minimum of 30 days after a judgment before any additional legal action to collect the debt will be eversource one time bill pay by a judge.

Return to the court to request proof that you have the right to collect. The name of the document varies by state, but it is typically called a "writ of execution," "writ of garnishment" or "writ of attachment."

Research the possible places your debtor may do his banking. Although banks will not provide account numbers for their customers, you can sometimes verify whether a person has an account--especially at a larger commercial bank.

Visit the local sheriff's office with a copy of your writ and a list of banks to visit. Explain your collection procedure. You may also include a "memorandum of explanation" that details any additional funds you will recover, such as interest or research fees. If your boone county distillery office declines to process levies, contact a licensed process server in your community. The process server can also serve a levy.

Wait for your funds to be sent to you by the sheriff's office. You could wait as long as a full month--many banks hold levied funds for up to 21 days before submitting them to the sheriff, and the sheriff may hold them for an additional 14 to 21 days before sending payment to the creditor. This is because the debtor has the right to file a "claim of exemption" to contest your right to take his money.

References

Resources

Tips

  • If you cannot locate any information about your debtor, ask the court to convene a debtor examination hearing. This hearing compels the debtor to appear in court with a list of all of his banking accounts, assets and other sources of income, to make it easier to file a garnishment or levy. If the debtor fails to comply, he can be held in contempt of court and a bench warrant may be issued for his arrest.
  • Depending on your relationship with the debtor, you may wish to employ a process server instead of a sheriff to precisely time the execution of the levy to bank officials. For example, if you know your debtor pays his rent on the first of the month, present the levy on the that day so that you can take your money before his check to his landlord can clear the account. Beware, though--this is a hardball tactic that can further erode a debtor's financial standing.

Warnings

  • How to find a persons bank account number can get messy if the debtor has shared bank accounts or commingles ordinary income with income that is exempt from garnishment or levy, such as how to find a persons bank account number pension or child-support payments. Consult with an attorney if you must handle these more complicated cases.

Writer Bio

Jason Gillikin is a copy editor and writer who specializes in health care, finance and consumer technology. His various degrees in the liberal arts have helped him craft narratives within corporate white papers, novellas and even encyclopedias.

Источник: https://smallbusiness.chron.com/attach-garnishment-debtors-bank-account-11973.html

Legal Ways to Locate Bank Accounts

  • Buy Something from the Defendant

    Have someone purchase something from the defendant's store or business. Be sure to pay by check. Naturally, this procedure works best if the defendant runs a business or service operation. If he or she does, it is a relatively simple matter to purchase something from the defendant. If the he or she performs a service, simply hire him or her to work for you. If, as an attorney, you think your subject will not fall for this method, use a third party in your place. I warn you not to involve a third party in an undercover operation if you believe there is the slightest chance for violence.

    This seemingly simple task can lead to some unusual situations. I had a case against a debtor who ran a small retail establishment. My goal was to simply go into the store and purchase something with a check so I could obtain the store's bank account number. The business was located close to Martin Luther King Boulevard in a predominately black area of town. It was quite a challenge for a white guy to look inconspicuous under these circumstances.

    Sure enough, in my next bank statement was the debtor's bank account information on the back of the check I had written him for merchandise bought in his store.

  • UCC Filings - File Copy from the Secretary of State

    A search should be made of Uniform Commercial Code filings. The find my iphone location that loaned the defendant money may be the same bank he or she uses personally.

    The debtor will probably obtain financing from a bank that he or she normally does business with. This makes sense. The debtor will usually have a better chance of obtaining a loan from a bank he or she already has a banking relationship with.
    Once the debtor's probable bank is identified, you have at least two bites of the apple in obtaining the debtor's bank account. The debtor may have applied to the same bank for a loan.

  • UCC Filing - Loan Application from the Secured Party

    Keep in mind what purpose that a UCC-1 filing serves. It is to provide notice to the public that the secured party has an interest in the debtor's property. This is generally from the secured party loaning money to the debtor. The debtor does this by filling out a loan application and financial statement. This information should contain the debtor's bank account information.

  • UCC Filings - Check from the Secured Party to the Debtor

    In a loan situation the bank will issue a check to the debtor. The debtor will deposit the check in his or her bank account. As the check makes it's way back to the issuing bank the debtor's bank account number will be on the back of the check issued by the bank. If you subpoena the secured party for a copy of this check it will show the document trail including the name and account number of the bank the debtor actually deposited the check.

  • UCC Filing - Copy of the Debtor's Checks

    The debtor is obligated to pay the secured party back for it's loan each month--presumably with how to find a persons bank account number check. All you have to do is subpoena the targeted bank for the above information--any loan applications and/or financial statements of the debtor, any checks the bank issued to the debtor, and the debtor's checks over a period of several months.

  • Previous Landlord-- Rental Application

    Subpoena the previous landlord of the defendant for a copy of the rental application to see where the defendant banked. Most people are usually creatures of habit. Once a banking relationship is established, it generally remains the same.

  • Previous Landlord-- Security Deposit, Canceled Check

    Now, the above information may be outdated. However, there are two additional sources of records that the landlord has regarding the debtor's bank account. One is the security deposit and cleaning refund check that was given to the tenant / debtor upon move out. The debtor may have deposited this check in his bank account. The landlord or the landlord's bank has a copy of this check. The debtor's bank account information should be on the backside.

  • Previous Landlord-- Copies of the debtor's Rent Checks

    During the rental period the tenant/debtor probably paid the landlord by check. The landlord may cooperate or you may have to subpoena him to obtain this information. The landlord will claim he does not have access to these checks. This may be a true statement. The fact of the matter that the bank microfilmed every check the landlord deposited in his account. This includes the Debtor's rent checks.

  • Blanket Levy

    This technique involves serving a Writ of Execution and a Bank Levy on every bank in the area. This procedure assumes that you will hit an account eventually and that the debtor will bank within only a few mile radius of his home or work. It is rumored that the IRS has used this tactic in the past. For obvious reasons, this technique works best in a small town.

  • Debtors Examinations

    At this proceeding you can demand that the debtor tell you where his bank account is. The unfortunate effect of this procedure is that the defendant can take most (if not all) of his money out of the account before you can get to it. However, do not dismiss the usefulness of the examination too quickly. Not all debtors are Einstein's. Some debtors do not think to empty their bank accounts. Additionally, there is actual value in finding a bank account with only a few bucks in it or even one that has already been closed. The value is in the microfilmed records the bank will retain on the account.

    Just think about it for a second. What documents would a debtor deposit in his bank account? If you answered any of the followings: the debtor's payroll check, the debtor's spouse's payroll check, stock dividend checks, rental income checks, you would be right! Each category of information is extremely valuable to a creditor enforcing a judgment. What is more, the debtor will probably take the funds from his now defunct account and--probably in the form of a check from his old account--deposit it in a new account.

  • Employer

    If you know the debtor's employer you may consider serving a Business Record Subpoena on the employer to obtain a copy of a payroll check the debtor has "cashed". The check should have the defendant's account number and possibly the name of the bank on the back of it.

  • Current Landlord--Rental Application

    The current landlord probably has a rental application on file that show the defendant's bank account.

  • Current Landlord--Past Check

    Subpoena from the current landlord a copy of the defendant's past month's rent check.

  • Current Landlord--Current Rent Checks

    Subpoena from the current landlord a copy of the defendant's current month's rent check.

  • Trash Search

    Some investigative agencies such as the IRS, FBI, local law enforcement agencies, and private investigators will conduct trash searches. The information obtained will reveal the bank where the defendant has an account in addition to probably more information than you ever wanted to know about the defendant. In fact, a trash search tells so much about a debtor that it is absolutely scary. Think I am kidding? Tell you what, to every person who reads this and for an instant thinks this technique will not work, I have an exercise for you. Go through your own trash for a one week period. Write down everything that you can conclude about your household--likes and dislikes in foods keybank mobile banking app cosmetics, medications, personal correspondence, etc., etc. Are you now considering incinerating your own trash?

  • Yard Sale

    This is an unusual procedure reserved for the stout of heart. It will not work if the defendant knows you on sight. The way it works is to send post cards best online stock trading platform in nigeria everyone who lives on the defendant's block. The post card should read something like, first tennessee bank volunteer parkway bristol tn yard sale this weekend". Put up a few signs directing traffic on the appropriate day. The defendant will be caught up in the excitement and open his garage to sell his unwanted items. First, this is a great chance to view the defendant at home, up close and personal. Take covert inventory of the defendant's assets. Second, buy something from the defendant and pay by check.

  • Telephone Records (Search Warrant Required)
  • State Sales Tax Permits

    The application for a Sales Tax permit requires that the business list it's bank account. This is certainly true of the current sales tax permit for California. It is probably true for other states as well.

  • Employment Development Department Permit

    The Employment Development Department application, an permit that allows an employer to hire employees, normally requires that the business list it's bank account.

  • Divorce records, community property settlement

    Sometimes these records contain a wealth of financial information, including:  the name and account number of checking, savings, brokers, stocks, credit cards and bonds account. Often the description and address of private property and the make, model and license number of vehicles also are included in the divisions of property papers.

  • Источник: http://www.ckfraud.org/banksearch.html

    Money Movement

    Ways to move your money

    Discover the best option for your needs.

    Options

    Speed

    Fee

    Best For

    Member to Member

    Within minutesNoTransfers between Patelco members

    Zelle®

    Typically within minutes1NoSplitting costs and sharing money with family and friends2

    Apple Pay

    Within minutesNoQuick payments at stores and online

    Google Pay

    Within minutesNoQuick payments at stores and online

    Bill Pay

    Up to 3 business days (electronic)
    Up to 7 business days (check)
    NoPaying routine bills

    Bank Transfers

    1-2 business daysNoTransferring between institutions

    Between Your Patelco Accounts

    Within minutes, often instantlyNoTransferring between your own Patelco accounts

    Wire Transfer

    Same day if before 1pm PT (weekdays)Outgoing: $203 (domestic)

    Incoming: $103 (domestic)
    $15 (international)
    Large payments
    • We’ve made it easier to transfer money with another Patelco member.

      Learn more about transfers between Patelco members

    • Transferring money between your own Patelco accounts is easy. Just log in to Patelco Online™ and select the TRANSFERS widget. Most transfers will post instantly or within a few minutes .

    • Transferring money between your Patelco account bank of america mobile app iphone another bank or credit union is now faster. You can initiate the transfer either at Patelco or at your other institution.

      Learn more about transfers with another institution

    • Making a one-time or recurring bill payment online is most convenient with our Bill Pay transfer option.

      Learn more about Bill Pay

    • To send or receive money from family or friends, you can use Zelle®, Apple Pay, or Google Pay.

      Learn more about Zelle®

      Learn more about Apple Pay/Google Pay

      For larger payment amounts, you may want to consider a wire transfer. At this time, Patelco supports incoming wire transfers (from domestic or international banks) and outgoing wire transfers to domestic banks.

      Learn more about Wire Transfers

      If you need to send money internationally, we suggest our partner Xoom™ at xoom.com

    • Sent within minutes
    • Limits are available in Patelco Online™ under the HELP section of the TRANSFERS widget
    • Available at online banking and the Mobile App
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    • Typically sent within minutes1
    • To review your available sending limit, go to the SEND MONEY WITH ZELLE® widget and select Send, then Limits.
    • No limits on how much you can receive
    • Available at online banking and the Mobile App
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    • Typically delivered within 3 business days
    • Limits are available in Patelco Online™ under the HELP section of the BILL PAY widget
    • Available at online banking and the Mobile App
    • No fees

     

    • Typically delivered within 2-3 business days
    • Limits are available in Patelco Online™ under the HELP section of the TRANSFERS widget
    • Available at online banking and the Mobile App
    • No fees

     

    • Funds will be sent from Patelco accounts the same day, if the transfer request is made before 1pm on weekdays
    • Submit your request at your local branch or by faxing our domestic outgoing wire transfer form to 925.847.1977 (along with a copy of your valid driver's license or other government-issued ID such as a passport)
    • Outgoing: $20, Incoming: $10 ( both waived for Commitment Household members)
    • Domestic incoming wire transfers to Patelco accounts should be directed as follows:
      Patelco Credit Union
      3 Park Place
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      ABA/Routing Number: 321076470
      Member's full name (as it appears on Patelco statements)
      Member's full account number (find your account number in Patelco Online™ by selecting the Account Details tab of the account you want to use to receive the transfer)

     

    When using wire transfer forms, remember to use the correct account number formats to ensure proper delivery.

    For Checking accounts, Money Market accounts and Health Savings Accounts (HSAs), the proper account number format is 14 digits long, beginning with 746. Your account number can be found at the bottom of your check, or by clicking or tapping on your account in Patelco Online™ and then selecting the Account Details tab.

     

    Limits are based on funds availability.

    Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

    1US checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes and generally do not incur transaction fees.

    2In order to send payment requests or split payment requests to a US mobile number, the mobile number must already be enrolled with Zelle®.

    3Waived for Commitment Household members.

    Sign up for Patelco Online™

    Manage your money securely from virtually anywhere.

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    Источник: https://www.patelco.org/member-support/digital-banking-services/money-movement

    I would like to be able to have my friend or family member help with my bill-paying and banking. What are my options?

    Informal help with money management

    If you are still able to handle your banking and bill-paying but would like some help going through the bills and budgeting, a friend or family member can review your bills with you and help you figure out which ones to pay and when. Under this arrangement, you still sign your checks and no one else is authorized to make account transactions.

    If you have no friends or family members to help you with informal money management, there are organized programs that provide trained staff members or volunteers to help. To locate a money management program in your area, try contacting your local Area Agency on Aging.

    You may also be able to find a money management program along with other resources for Older Americans by contacting the Eldercare Locator or by calling 1-800-677-1116.

    If you get help from a money management program, check on whether the program has insurance or bonding so your money is protected in a worst case scenario involving mismanagement or theft by the person assisting you.

    Joint account
    If you would like to enable a friend or family member to write checks and make deposits on your behalf, you may open a joint account. Generally, everyone whose name is on a joint account can write checks, withdraw money, and make transactions. Similarly, if one of the account holders owes money, the creditor can try to collect from money in the joint bank account.

    If the money in your joint bank account belongs to you, is not meant to be a gift to the joint account holder, and is meant to be folded in with your other assets for distribution according to your will or estate plan, you may be taking some risks by opening a joint bank account because:

    • Your friend or family member can withdraw money for his or her own use or mismanage your money
    • Creditors of your friend or family member may use legal processes to try to satisfy their debts from your money in the account
    • When you die, depending on the terms of the account and state law, money in the joint account may be distributed by the bank to the friend or family member whose name is on your account, without regard to the provisions of your will or other estate planning provisions

    Convenience account
    A “convenience account” or “agency account” enables you to designate a family member or friend how to find a persons bank account number help you by depositing or withdrawing money and writing checks. A convenience account does not change the ownership of the money in the account or give your helper the right to keep the money when you die. Note, however, that any friend or family member you designate to help you can both deposit and withdraw money from your account, which exposes you to the risk that they might withdraw your money for their own use.

    Tip: Ask your bank about opening a convenience account or agency account. Often bank employees don’t mention these options or may not know they exist. You may need to speak with a manager.Explain that you want an account in which the money remains yours but someone else’s name will how to find a persons bank account number on the account to help you with bill paying and other transactions. Be sure to say that you don’t want the other person to have the “right of survivorship” if you don’t intend for your money to become your helper’s money upon your death.

    Power of attorney (POA) for finances
    You can name a friend or family member to act on your behalf by creating and signing a document called a power of attorney (or “durable” power of attorney). In that case, your bank account can remain in your name only, but the person you name in your power of attorney – your “agent” – can help you with banking. If you or your agent shares a copy of the power of attorney document with bank employees, they should honor the document and allow your agent to stand in your shoes to handle your bank transactions.

    Again, give considerable thought before you grant anyone power of attorney, as he or she might withdraw money from your account for reasons that you do not specify.

    Источник: https://www.consumerfinance.gov/ask-cfpb/i-would-like-to-be-able-to-have-my-friend-or-family-member-help-with-my-bill-paying-and-banking-what-are-my-options-en-1145/

    Account numbers: What they mean and how to find them

    Conclusion

    At one time, account numbers were the state of the art in securing and authenticating financial accounts. But increasingly, especially when compared with other technologies, they have become a source of errors, friction, and fraud.

    New security measures, such as tokens, biometrics, two-factor authentication, and instant account verification, can supplement and strengthen account numbers. Meanwhile, financial institutions have begun to pursue other avenues for preventing and detecting fraud. For example, predictive analytics and machine learning can be used for anomaly detection. Such measures examine email account, IP, phone, physical address, and other information for out-of-pattern behavior.

    Digital account opening has made it faster and easier for consumers to acquire new accounts. It’s also made it easier for financial fraud to occur. As the risk for financial identity theft increases, firms are challenged to invest in improved digital tools and processes to protect client account information and prevent financial fraud.

    Источник: https://plaid.com/resources/banking/account-numbers-explained/
    how to find a persons bank account number

    How to find a persons bank account number -

    What are your rights if your bank account is frozen?

    Do you look like a criminal to your bank? Thousands of people a year now fit this description, judging by the number of complaints to the Financial Ombudsman about frozen bank accounts. The greater your bank balance and your international connections, the more likely you are to match the profile.

    The decision to freeze an account often happens with no warning or explanation. Customers suddenly find they have no access to cash; their direct debits and standing orders are suspended.

    The reason? Banks find it hard to distinguish between unusual account activity and criminal behaviour. They are caught between the need to prevent money laundering, and their duty to look after their loyal customers.

    Under lockdown, financial fraud has risen sharply, and banks are on high alert for suspicious transactions. Yet at the same time, Covid-19 has limited access to in-branch services, putting increased strain on telephone helplines as customers attempt to resolve problems and ‘unfreeze’ their accounts.

    Here, FT Money looks at the steps you can take to avoid being frozen out by your bank, and your rights if it happens to you.

    Customer — or criminal?

    Not only are banks and building societies allowed to freeze accounts without any notice if they see fit, they do not have to tell customers their reasons for doing so. Most customers never find out exactly why their account caught the bank’s attention. 

    This was the case for Alex, a reader who contacted FT Money in desperation when his savings account containing an inheritance of more than £100,000 was frozen. 

    He only found out when he tried to make a £2,000 bank transfer to his sister last year, and it wouldn’t go through. He was told to call a number to discuss why, and was told there had been suspicious activity and his account had been locked. 

    “My sister shares my surname, yet the bank decided this was so suspicious it immediately locked down all my accounts and turned off my internet banking access,” Alex says. “There was nothing more to it, absolutely no suspicious activity beyond the fact that I rarely transacted on this account.”

    The fact that Alex was working in Australia made it much more difficult to resolve the problem. Staff at his bank’s call centre insisted he had to visit a UK branch with ID, and would not accept that this was not going to be possible because he was working 10,000 miles away. He had his passport and driving licence notarised by an Australian lawyer and sent these to the bank, but they were rejected. 

    As Alex was due to come back to the UK in March, he figured his only option was to wait until then and call in at a branch with the relevant ID — but the Covid-19 pandemic put pay to all that.

    By then, the need to access the money in his savings account was even greater. Having hit a dead end with his bank, Alex contacted FT Money; we called his bank; and within two hours, Alex heard his account had been released and he could now carry out whatever transactions he wanted.

    “Ultimately, I'm not sure what caused the bank to behave in the way they did, and this was one of the most frustrating aspects — their refusal to discuss the problem,” he adds.

    So why had his account been frozen? During telephone conversations with the bank, he was reminded that when he opened his first account as a child more than 30 years ago he had used his first name of Robert, even though he was already known in the family by his second name — Alex. But his savings account, opened with the same bank decades later, only used his second name.

    Could this have made him look like a criminal who had cloned someone’s identity to launder the proceeds of crime? Alex will never know, as his bank is not required to provide a fuller explanation. However, the relentless rise of banking fraud helps to explain why banks are on red alert.

    The big freeze

    Since the start of lockdown, over 5m people in the UK have fallen victim to a financial scam, or knew someone who had been duped, according to a study by Canada Life. The research found the most common financial frauds related to banking, accounting for 60 per cent of victims.

    Banking customers were swindled out of more than £450m last year via push payment fraud, where people are tricked into transferring money online to a criminal who may even be posing as their bank, or another official institution.

    Since March, the National Crime Agency has issued warnings about bogus calls, texts and emails from HMRC where victims are duped into transferring money to criminals, as well as a host of online scams involving the sale of face masks, hand sanitiser and testing kits which have never arrived.

    Last week, the Investment Association warned that over £4m had been lost to scammers selling bogus investment bonds by impersonating legitimate financial institutions.

    In all cases, the criminals need bank accounts to receive their ill-gotten gains and may target legitimate accounts held by ordinary customers.

    A spokesperson for UK Finance, the banking trade body, says: “Tackling the threat of money laundering is of the utmost importance for the financial services industry,” adding that the regulations around account freezing were “designed to balance the requirements of preventing criminals accessing the banking system while ensuring that legitimate customers and businesses are not prevented from accessing accounts.”

    “Financial sector firms may carry out additional checks or safety measures, including freezing accounts or requesting further information from their customers and clients to satisfy themselves that there is not a risk of money laundering entering the financial system,” the spokesperson adds.

    As fraud has increased under lockdown, have the instances of frozen accounts also risen?

    Neither individual banks nor UK Finance publish statistics about frozen accounts but it appears to be a growing problem, according to Resolver, the free online tool for complaints and claims.

    “The number of complaints Resolver is seeing about frozen bank accounts across both household names and smaller ‘challenger’ banks show us that this is a growing issue,” says Alex Neill, the service’s chief executive.

    In the last financial year, Resolver dealt with over 13,000 complaints about current accounts, with complaints about frozen accounts making up 8 per cent of all cases. In the current financial year, Ms Neill says, “this proportion remains higher than we have typically seen”.

    The Financial Ombudsman Service (FOS), which steps into resolve complaints for consumers after they have come to the end of their banks’ own complaints procedure, estimates it receives around “50 complaints a week that are about account closures or suspension” although it has not seen this figure increase since the start of lockdown.

    Most complaints involve cases of accounts being closed with no notice at all, or without sufficient notice for customers to make alternative arrangements. A spokesperson for the FOS says that customers are often told that their bank “closed or blocked their account because of regulatory obligations.” 

    However, account freezing appears to be a particular problem for customers of online or app-based “challenger banks”, which tend to have a higher ratio of complaints per 1,000 customers than the bigger high street names. For example, Resolver said it had seen a 153 per cent increase in complaints about Monzo in May compared with April.

    Challenging chills

    “Freezing bank accounts and denying consumers access to their money is one of the most complained-about actions taken by challenger banks and money apps,” admits one senior executive of a UK digital payments app, who spoke to FT Money on condition of anonymity. 

    One reason could be that app-based fintech companies are much more adept at using technology to flag potential issues. 

    “Spotting potential fraud is usually algorithmic, running through transaction analysis to spot unusual behaviour,” he says. 

    If a large sum has been transferred, he says his staff may well ask to see a bank statement from the originator of the payment. Innocent customers may forewarn their banks of such transactions, but this will not necessarily stop the checks. 

    “Some fraudsters would also use this tactic to make the transaction look less suspicious,” he says. 

    In the majority of cases, a temporary freeze is quickly lifted. “Customers asked to prove their identity should take it as a positive thing, as it means we are trying to protect them,” he says. 

    Yet he admits to being staggered at how well-organised criminals are in their relentless quest to exploit loopholes in the banking system. 

    “Fraud is certainly increasing, and fraudsters are very innovative. They will often share information on compromised individuals and on methods that have worked with specific institutions, but banks are often far less sophisticated [at sharing information],” he says. 

    His organisation has weekly meetings where “we share examples of how fraudsters try to open accounts; attempt to take over accounts and process fraudulent transactions” as well as circulating articles about fraud and other sources of intelligence. 

    As a result, “team members regularly message the team leader with suspicions” that can lead to checks, a temporary freeze and potentially, account closure. 

    Even so, he suspects that bank fraud losses reported by UK Finance are greatly understated because many customers are “too embarrassed” to report that they have lost money “and have been made fools of”.

     “The drive to close branches of legacy banks and encourage customers to transfer to online accounts can leave an ageing demographic, which is not computer-savvy, more open to manipulation,” he adds.

    Your rights if your account is frozen

    So how should the innocent prevent their accounts from being frozen? Transferring large sums of money between accounts is likely to attract suspicion. 

    As well as receiving an inheritance, another common trigger is selling a property and paying the proceeds into a current account. Banking customers may well be asked to provide proof of the transaction from their solicitor and estate agent. 

    Solicitors are also trained to prevent money laundering — if you are buying a property, they will commonly ask for evidence of where the deposit money came from, and will need to see copies of bank statements. 

    “Inform your bank before any planned activities — including incoming large deposits — that are out of the norm,” advises Resolver’s Alex Neill. “State explicitly where the money is coming from and why.”

    This way, she says, your bank could put a note on your customer file “or request certain flags to be bypassed if it would result in your account being frozen”.

    Nevertheless, if your account has been frozen, there is no guarantee that producing ID documents and paperwork will be enough to prevent your account being closed.

    Which?, the consumer body, says that banks and building societies are entitled to close a customer’s account if they see fit.

    “Usually they would be expected to give 30 days’ notice unless there are ‘exceptional circumstances’ where fraud is suspected,” a spokesperson says. “The fact that banks are able to freeze accounts without any notice means it can be worth spreading your money across more than one institution, to avoid being in a position where you are unable to access any funds.”

    In some cases, banks decide they no longer want the business of a customer for commercial reasons. In such cases the FOS expects banks to give customers at least 30 days’ notice. The exception to this is when a bank suspects the customer of fraud or if they were threatening or abusive to the bank staff.

    If customers feel they have been treated unfairly, they can take their case to the ombudsman, who may decide that compensation for financial losses are payable.

    For example, the FOS says if a bank closes a customer’s account without giving them enough notice this might mean they fail to honour a cheque, direct debit or standing order payments. It could also lead to a direct loss in the form of interest or late payment fees and there could be indirect losses like “damage to a customer’s reputation or adverse information on their credit file.”

    The FOS in its guidance to banks says: “If we decide you were wrong to close a customer’s account, or you didn’t give them enough notice, we’re likely to tell you to reimburse them for any direct costs.

    “If you close a customer’s account without giving them enough notice, they may suffer distress and inconvenience because they can’t access banking facilities and have to find a new account.” In such cases, “we are likely to tell you to pay them compensation for distress and inconvenience”.

    One couple who complained to the FOS had a business account that was occasionally overdrawn. They did not have a formal overdraft arrangement; the bank had refused to grant one but had allowed the overdrawing and even charged fees on the account for it. 

    When a new branch manager decided their account should be closed, she gave the couple four weeks’ notice, but it occurred a few days early, leaving a number of payments outstanding. The FOS recommended the bank pay them £4,750 and to provide the business with a letter explaining that payments had not been made because of the bank’s mistake.

    The spokesperson added: “Your bank is entitled to close your bank account, but we’ll look at whether they treated you fairly in doing so.”

    Источник: https://www.ft.com/content/8fba7cac-83b3-4df3-a1a7-5b6869516085

    Money Movement

    Ways to move your money

    Discover the best option for your needs.

    Options

    Speed

    Fee

    Best For

    Member to Member

    Within minutesNoTransfers between Patelco members

    Zelle®

    Typically within minutes1NoSplitting costs and sharing money with family and friends2

    Apple Pay

    Within minutesNoQuick payments at stores and online

    Google Pay

    Within minutesNoQuick payments at stores and online

    Bill Pay

    Up to 3 business days (electronic)
    Up to 7 business days (check)
    NoPaying routine bills

    Bank Transfers

    1-2 business daysNoTransferring between institutions

    Between Your Patelco Accounts

    Within minutes, often instantlyNoTransferring between your own Patelco accounts

    Wire Transfer

    Same day if before 1pm PT (weekdays)Outgoing: $203 (domestic)

    Incoming: $103 (domestic)
    $15 (international)
    Large payments
    • We’ve made it easier to transfer money with another Patelco member.

      Learn more about transfers between Patelco members

    • Transferring money between your own Patelco accounts is easy. Just log in to Patelco Online™ and select the TRANSFERS widget. Most transfers will post instantly or within a few minutes .

    • Transferring money between your Patelco account and another bank or credit union is now faster. You can initiate the transfer either at Patelco or at your other institution.

      Learn more about transfers with another institution

    • Making a one-time or recurring bill payment online is most convenient with our Bill Pay transfer option.

      Learn more about Bill Pay

    • To send or receive money from family or friends, you can use Zelle®, Apple Pay, or Google Pay.

      Learn more about Zelle®

      Learn more about Apple Pay/Google Pay

      For larger payment amounts, you may want to consider a wire transfer. At this time, Patelco supports incoming wire transfers (from domestic or international banks) and outgoing wire transfers to domestic banks.

      Learn more about Wire Transfers

      If you need to send money internationally, we suggest our partner Xoom™ at xoom.com

    • Sent within minutes
    • Limits are available in Patelco Online™ under the HELP section of the TRANSFERS widget
    • Available at online banking and the Mobile App
    • No fees

     

    • Typically sent within minutes1
    • To review your available sending limit, go to the SEND MONEY WITH ZELLE® widget and select Send, then Limits.
    • No limits on how much you can receive
    • Available at online banking and the Mobile App
    • No fees1

     

    • Typically delivered within 3 business days
    • Limits are available in Patelco Online™ under the HELP section of the BILL PAY widget
    • Available at online banking and the Mobile App
    • No fees

     

    • Typically delivered within 2-3 business days
    • Limits are available in Patelco Online™ under the HELP section of the TRANSFERS widget
    • Available at online banking and the Mobile App
    • No fees

     

    • Funds will be sent from Patelco accounts the same day, if the transfer request is made before 1pm on weekdays
    • Submit your request at your local branch or by faxing our domestic outgoing wire transfer form to 925.847.1977 (along with a copy of your valid driver's license or other government-issued ID such as a passport)
    • Outgoing: $20, Incoming: $10 ( both waived for Commitment Household members)
    • Domestic incoming wire transfers to Patelco accounts should be directed as follows:
      Patelco Credit Union
      3 Park Place
      Dublin, CA 94568

      ABA/Routing Number: 321076470
      Member's full name (as it appears on Patelco statements)
      Member's full account number (find your account number in Patelco Online™ by selecting the Account Details tab of the account you want to use to receive the transfer)

     

    When using wire transfer forms, remember to use the correct account number formats to ensure proper delivery.

    For Checking accounts, Money Market accounts and Health Savings Accounts (HSAs), the proper account number format is 14 digits long, beginning with 746. Your account number can be found at the bottom of your check, or by clicking or tapping on your account in Patelco Online™ and then selecting the Account Details tab.

     

    Limits are based on funds availability.

    Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

    1US checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes and generally do not incur transaction fees.

    2In order to send payment requests or split payment requests to a US mobile number, the mobile number must already be enrolled with Zelle®.

    3Waived for Commitment Household members.

    Sign up for Patelco Online™

    Manage your money securely from virtually anywhere.

    Get started

    Useful links

    Patelco Online Support

    Need additional help?

    Источник: https://www.patelco.org/member-support/digital-banking-services/money-movement

    Routing Number Vs. Account Number: What You Need To Know

    Bank accounts—including checking accounts, savings accounts and money market accounts—can offer convenient and secure ways to manage your money. While you may swipe your debit card or write checks without thinking twice, it’s helpful to know how banks keep track of your accounts.

    That’s where routing numbers and account numbers come into play. Banks, credit unions and other financial institutions use routing numbers to distinguish themselves from one another. They also use account numbers to identify individual customers and accounts.

    Knowing your bank routing number and account number matters for things like scheduling electronic payments, setting up direct deposit or sending and receiving person-to-person payments. If you have at least one checking account or another type of bank account, then it helps to know how to find this information when you need it.

    What Is a Routing Number?

    A bank routing number is a nine-digit number that identifies which financial institution is responsible for the payment of a financial instrument. In other words, it’s the number banks use to identify themselves. The American Bankers Association developed the ABA routing number system in 1910 as a way to tell one bank from another.

    The ABA routing number system covers federally and state-chartered banks and financial institutions that process check transactions. It also extends to banks that participate in other activities, such as automated clearinghouses, electronic funds transfers and online banking.

    If your bank or credit union maintains an account with the Federal Reserve Bank, then it has an ABA routing number. In fact, only financial institutions that meet this requirement and have a federal or state charter can apply for a routing number with the ABA.

    The U.S. is the only country that uses routing numbers to identify banks when sending and receiving money. Foreign banks use something called IBAN instead, which is short for International Bank Account Number.

    What Is an Account Number?

    An account number is a set of digits used to identify a specific bank account, such as a checking account or money market account. Banks assign account numbers to each account you own.

    So, for example, if you open a checking account and a savings account at the same bank, you’d have two different account numbers but just one routing number. If you have checking accounts at two different banks, each would have a unique account number and a unique routing number.

    Your account number tells the bank where to add money or deduct money each time new credit or debit transactions are posted. This is similar to the way your Social Security number is used to identify you for lending and credit reporting purposes.

    For that reason, it’s important to keep your bank account numbers secure. Otherwise, someone might be able to use your information to access your accounts fraudulently.

    How to Find a Bank Routing Number

    There are a variety of scenarios where you may need to provide your bank routing number. For instance, you may need a routing number to:

    • Set up direct deposit with your employer
    • Receive a direct deposit of a tax refund or stimulus check
    • Send or receive a wire transfer
    • Receive direct deposit of government benefits
    • Pay your mortgage or other bills online
    • Schedule an electronic ACH payment
    • Link your bank accounts to a budgeting app
    • Send or receive money to friends and family

    In terms of how to find your routing number, there are three possibilities.

    How to Find Your Routing Number on a Check

    If your checking account comes with paper checks, this is the first place you can look for your bank routing number. So where is the routing number on a check?

    When you look at the front of a check, you’ll see a space at the bottom with a row of numbers. Specifically, you should see three groups of numbers, separated by a space or special character.

    Looking at the bottom of the check, the first group of numbers (labeled “1” in the image above) is the bank routing number. Again, an easy way to tell if it’s your bank routing number is to count the digits and confirm that there are nine. If there are more or fewer than nine digits, odds are you’re looking at your checking account number (labeled “2” above).

    How to Find Your Routing Number Online

    If you have a checkless checking account or you’ve run out of checks, finding your bank routing number may be as simple as visiting your bank’s website.

    Banks and credit unions can publish their routing numbers online as a convenience to customers. Unlike a bank account number, a bank routing number is public information and doesn’t need to be secured or protected.

    You may be able to find this number right on the main homepage of the bank’s website. But, if not, you may be able to log in to your account online or via mobile banking to check the routing number.

    How to Find Your Bank Routing Number by Contacting the Bank

    A third way to get your bank routing number when you don’t have checks or it’s not published online is to simply contact the bank.

    A teller should be able to provide your bank’s routing number over the phone, in person or at the drive-through window. This option is helpful if you want to be able to read the routing number back to them to verify that it’s correct.

    How to Find Your Bank Account Number

    If you’re entering your bank routing number for financial transactions, then you’ll most likely need to provide your checking account number as well. Again, there are a few ways to find this information if you don’t have it readily available.

    How to Find Your Bank Account Number on a Check

    As mentioned, there are three sets of numbers printed at the bottom of paper checks. The first is the check routing number that’s used to identify your bank.

    The second set of numbers should be your checking account number. This number may be anywhere from eight to 12 digits, depending on your bank or credit union.

    Your checking account number should be distinct from the routing number. The last set of numbers on your check represents the check number (labeled “3” in the image above). This is typically fewer digits than either the bank routing number or checking account number.

    How to Find Your Bank Account Number Online

    Getting your bank account number online can be tricky, as banks and credit unions may encrypt this information to protect against fraud or identity theft. For example, when you log in to online or mobile banking, you may only see the last four digits of your account number displayed. Some banks, however, display the full bank account number online and in the mobile app.

    Another possibility for getting your bank account number online is downloading a copy of your electronic or paper statement. Depending on the bank, your full account number may be included here, though again, some banks may only provide the last four digits.

    How to Find Your Bank Account Number by Contacting the Bank

    If you can’t view your bank account numbers online and you don’t have checks, you could ask the bank for the number. Again, you could do this by phone or in person.

    Be prepared to provide proof of identity to verify your status as the account owner first. This may mean providing your Social Security or driver’s license number or answering one or more security questions.

    How to Manage Routing Numbers vs. Account Numbers

    Knowing your bank routing number and account numbers is important if you ever need them for specific financial transactions. But like any other financial information, it’s important to keep your details safe.

    Someone could, for example, use your bank routing number and checking account number to order fraudulent checks. Or they may be able to initiate a fraudulent ACH withdrawal of money from your account.

    Here are a few tips for managing routing numbers and account numbers securely:

    • Avoid writing down account numbers. Similar to your Social Security number or debit card PIN, you’re better off committing your account numbers to memory if possible.
    • Destroy voided checks. If you have to void a check for any reason, then be sure to destroy it rather than tossing it in the trash.
    • Don’t share account information. Giving out your bank account numbers to individuals or entities you don’t know can be risky. If you’re asked to share your account information, first verify that the request is coming from a trusted source.
    • Be selective about the apps you use.Personal finance apps can make managing your money easier. But they can also be targets for hackers and scammers who may use malware or phishing attacks to steal your information. So, before linking your bank accounts to an app, make sure it’s legitimate.

    Aside from security, it’s also important to make sure you’re entering your routing number and account numbers correctly. Entering an incorrect routing number or account number could result in money being sent or received to the wrong account. Double-checking each set of numbers in situations where you’re required to share them for a financial transaction can help avoid banking headaches.

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    Источник: https://www.forbes.com/advisor/banking/routing-number-vs-account-number/

    I would like to be able to have my friend or family member help with my bill-paying and banking. What are my options?

    Informal help with money management

    If you are still able to handle your banking and bill-paying but would like some help going through the bills and budgeting, a friend or family member can review your bills with you and help you figure out which ones to pay and when. Under this arrangement, you still sign your checks and no one else is authorized to make account transactions.

    If you have no friends or family members to help you with informal money management, there are organized programs that provide trained staff members or volunteers to help. To locate a money management program in your area, try contacting your local Area Agency on Aging.

    You may also be able to find a money management program along with other resources for Older Americans by contacting the Eldercare Locator or by calling 1-800-677-1116.

    If you get help from a money management program, check on whether the program has insurance or bonding so your money is protected in a worst case scenario involving mismanagement or theft by the person assisting you.

    Joint account
    If you would like to enable a friend or family member to write checks and make deposits on your behalf, you may open a joint account. Generally, everyone whose name is on a joint account can write checks, withdraw money, and make transactions. Similarly, if one of the account holders owes money, the creditor can try to collect from money in the joint bank account.

    If the money in your joint bank account belongs to you, is not meant to be a gift to the joint account holder, and is meant to be folded in with your other assets for distribution according to your will or estate plan, you may be taking some risks by opening a joint bank account because:

    • Your friend or family member can withdraw money for his or her own use or mismanage your money
    • Creditors of your friend or family member may use legal processes to try to satisfy their debts from your money in the account
    • When you die, depending on the terms of the account and state law, money in the joint account may be distributed by the bank to the friend or family member whose name is on your account, without regard to the provisions of your will or other estate planning provisions

    Convenience account
    A “convenience account” or “agency account” enables you to designate a family member or friend to help you by depositing or withdrawing money and writing checks. A convenience account does not change the ownership of the money in the account or give your helper the right to keep the money when you die. Note, however, that any friend or family member you designate to help you can both deposit and withdraw money from your account, which exposes you to the risk that they might withdraw your money for their own use.

    Tip: Ask your bank about opening a convenience account or agency account. Often bank employees don’t mention these options or may not know they exist. You may need to speak with a manager.Explain that you want an account in which the money remains yours but someone else’s name will be on the account to help you with bill paying and other transactions. Be sure to say that you don’t want the other person to have the “right of survivorship” if you don’t intend for your money to become your helper’s money upon your death.

    Power of attorney (POA) for finances
    You can name a friend or family member to act on your behalf by creating and signing a document called a power of attorney (or “durable” power of attorney). In that case, your bank account can remain in your name only, but the person you name in your power of attorney – your “agent” – can help you with banking. If you or your agent shares a copy of the power of attorney document with bank employees, they should honor the document and allow your agent to stand in your shoes to handle your bank transactions.

    Again, give considerable thought before you grant anyone power of attorney, as he or she might withdraw money from your account for reasons that you do not specify.

    Источник: https://www.consumerfinance.gov/ask-cfpb/i-would-like-to-be-able-to-have-my-friend-or-family-member-help-with-my-bill-paying-and-banking-what-are-my-options-en-1145/

    Recycled bank accounts can mean sending money to the wrong person

    A chartered accountant and his wife are £1,100 out of pocket after discovering that their son’s old bank account number has been given to someone else. The couple have learned to their cost something that every person who banks online should know: it’s not just things such as paper and glass that are recycled. Banks can, and do, recycle closed account details.

    David and Lyndsay Boyack from the Scottish city of Stirling are the latest people to discover that transferring money via online banking can be fraught with peril. But this wasn’t a fat finger error, whereby you erroneously key in the wrong account number and the money goes to an unintended recipient; and it also wasn’t one of those nasty email scams where someone is duped into paying money to a fraudster posing as their builder/carpenter etc.

    In this case, Lyndsay made several separate payments into what she thought was her 33-year-old son’s current account, but is actually now someone else’s account – and this person is refusing to give the money back.

    Her son’s name, account number and sort code were among the list of payees saved on her system, but unbeknown to her they were no longer her son’s banking details. In fact, he had closed that account some years previously and subsequently opened another one with the same bank, the Clydesdale. What shocked the couple were the revelations that both the same account number and sort code from their son’s old account had been given to someone else, and that no one within the banking system seems to be able to compel this individual to hand back money that isn’t theirs.

    The Boyacks’ experience shines a spotlight on the little-known world of current account recycling. Did you know, for example, that your bank account could be “second-hand”? Very little information is available on this, but it is understood that banks typically wait at least three years before recycling closed account details. Clydesdale has confirmed that once one of its accounts has been closed for four years, both the number and sort code can be given to a new customer.

    Not all banks do this – HSBC doesn’t, and neither does Santander. And it may be the case that of those banks that do do it, some split the account number and sort code. If all old accounts were recycled to different branches, this would presumably have prevented the Boyacks’ error.

    If proposed new rules for online payments outlined last month were in place now, what happened to the Boyacks would not have been able to occur. In future, when a bank customer transfers some money, they will receive a message matching the sort code and account number with the name of the recipient account holder, so they can double check they are paying the right person (see below).

    David Boyack, who is 64, admits the whole experience has left the couple frustrated. However, he says they will continue their efforts to recover the money because otherwise it would suggest to him and his wife that “crime does pay”.

    The Boyacks made four online transfers of funds from the couple’s Royal Bank of Scotland account over a period of 15 months, unwittingly using the details of their son’s old account, which he had closed in 2006 after moving to Glasgow. The first transfer was £50 in December 2014, followed by £100 in February 2015, £150 in December 2015, and £800 in February of this year.

    Recycling account numbers is common practice due to a limit on the amount of numbers available

    The couple only realised there was a problem when their son told them the £800 had not arrived. They then realised the same thing had happened three times previously. Initially the couple thought they were the victims of a fraud, and contacted their bank, RBS. When it became clear what had occurred they complained to the Clydesdale. It eventually told them in August that it was unable to give them any more help. In a letter it said it had written twice to the customer who now has those account details to request the money back, “but we have had no response”. The Boyacks then wrote a letter which they asked to be forwarded to the customer, but again there was no reply.

    Intriguingly, through a spot of detective work they managed to get hold of the customer’s name and also where he works (a cafe in the Manchester area), although they don’t know his home address. “He’s a young chap and we imagine he has spent the money,” says David. His son managed to contact the man via Facebook, without joy, and now David has sent him a recorded delivery letter, to his workplace, asking him to pay back the debt at a rate of £75 a month or £20 a week.

    The couple took their complaint to the Financial Ombudsman Service, but it ruled that the Clydesdale “hasn’t done anything wrong in this situation” and had “made a reasonable attempt to try to retrieve the funds”.

    David told Guardian Money that “we do accept some contributory negligence … we [made the transfers] four times”. He acknowledges that if their son had noticed that the first £50 had not arrived then they wouldn’t be where they are now. But he says the FOS has shown itself to be “toothless”, with no solution offered to prevent a recurrence.

    “Clydesdale ‘made a reasonable attempt’ – I would have expected more. They contacted their client twice. He did not provide debit authorisation, so that’s it?” he says. “The recipient’s crime is that of unjust enrichment, and I am very keen that he pays back what he has ‘taken’ from us.”

    Boyack adds: “Why is there no flag on recycled accounts? Or better still, why is there not a split of the old account number for re-use with a different sort code? Is there no way to validate the recipient’s name as well, to avoid depositing funds in the wrong account in error?”

    In a statement Clydesdale Bank told us: “The issues raised have been investigated thoroughly and, while we sympathise with Mr Boyack, regrettably, given the circumstances, we could not provide a refund, and despite our efforts we were unable to retrieve the funds in question. The Financial Ombudsman also upheld our decision not to refund.”

    It adds that recycling account numbers is “common practice due to a limit on the amount of numbers available. In this case, the account number had not been used for eight years”.

    New safety measures

    A system is being introduced in the UK aimed at preventing people from sending payments to the wrong account, either by accident or as a result of a scam. But the bad news is that it isn’t due until 2018-2020.

    The “confirmation of payee” system will mean that when someone types in a sort code and account number to transfer some money, they will receive an instant message saying something like “Is ‘Joe Smith’ the person/business you intended to send the money to?” Crucially, this will appear before the money leaves the person’s account.

    Many people are unaware that currently the name of the person/company they are paying is effectively irrelevant as banks don’t do any cross-checking.

    As the proposals require a major systems change to enable banks to instantly identify recipients, it will be a couple of years before people see it. So what can they do now? As Clydesdale Bank says: “Always double-check the account details you are sending funds to, and check the recipient has received those funds.”

    Perhaps it is time to do an end-of-year spring clean of your list of payees and check that everyone’s bank details are up to date.

    Источник: https://www.theguardian.com/money/2016/dec/17/recycled-bank-accounts-send-money-wrong-person

    Is it safe to give out one's bank account number?

    I think the answer depends very much on where you are.

    I believe the other answer covers north america.

    On contrast, in (continental) Europe, giving the account and bank number (IBAN and BIC) is a (the most) common way to enable someone to send money to you.

    E.g. in Germany, you need much more than account number and bank number to withdraw money:

    To "push" money to another account (wire transfer from your account to someone who gave you the other account + bank numbers), you either have to hand-sign a certain form, or (online) certain credentials (e.g. login & password / PIN + TAN) are needed. I.e. for defrauding you, the other would need to get your online credentials (for mTAN also your mobile phone, for chipTAN a TAN generator of your bank [easy] and your bank card, for (i)TAN your TAN list) or fake your signature.

    There are also ways to allow someone to pull money from your account, see e.g. direct debit

    For that you sign that the other side is allowed to withdraw specified amounts of money (at specified dates). This is either

    1. between you and the other (i.e. your bank cannot check and doesn't reject withdrawals that are not authorized). However, the other side needs to have signed a contract with their bank that they'll only try to withdraw money they're entitled to.

    2. or you sign such a thing with your bank (then they do know whether the other side is allowed to withdraw money, and you can tell the bank that you won't accept any further withdrawals from XYZ).

    In the first case, the withdrawal technically still needs your approval. In order not to create a huge risk of fraud, the rejecting here is really easy: If you tell your bank that you reject the payment,

    • the bank will immediately roll back the transaction.
    • You need not give a reason for rejecting such a payment,
    • the bank is not allowed to charge you anything for the rejection, and
    • has to give you the interest you'd have gotten if the money had stayed on your account.
    • However, the bank can charge fees to the other side who tried to withdraw money from your account without approval.
    • And of course, it's criminal to try defrauding someone.
    • As the banks are much interested that this procedure is accepted as a safe way of payments, they're much after persons who try to defraud by this procedure.
    • But even if the one who tried to withdraw money was entitled to the money (and you just say "I don't pay"), the bank rolls back the transaction. In that case the other has to go to a civil court to get his money.

    The practical rule is that the payment is approved if you didn't reject within the first 6 weeks after the bank sent the account statement. In other words, until 4 1/2 months after the withdrawal (in case you have a bank that does only quarterly account statements), the one to get the money cannot be really sure that he actually has the money.

    I think (but I'm not completely sure, maybe someone else can comment/edit) that these two possibilities are also what is used with debit card payments (EC/Maestro card - these are much more common here than real credit card payments).

    -- end of Germany specific example --

    Источник: https://money.stackexchange.com/questions/15218/is-it-safe-to-give-out-ones-bank-account-number

    How to Attach a Garnishment on a Debtor's Bank Account

    By Jason Gillikin

    Bank levies may lead to unexpected surprises at the teller's window.

    If a court grants you, as a creditor, a judgment in a contested debt case, then the debtor is legally obligated to repay the debt under court order. If debtors do not make good on their obligation, a creditor can file a request for a garnishment to seize part of the debtor's wages. The same process, when used against a bank account instead of a paycheck, is called a "levy" instead of a garnishment.

    Obtain an order of judgment from a district court. This order usually follows a lawsuit related to a contested debt, including loan defaults, unpaid rent or outstanding government fees.

    Contact the debtor to arrange a payment plan. Most states require a minimum of 30 days after a judgment before any additional legal action to collect the debt will be authorized by a judge.

    Return to the court to request proof that you have the right to collect. The name of the document varies by state, but it is typically called a "writ of execution," "writ of garnishment" or "writ of attachment."

    Research the possible places your debtor may do his banking. Although banks will not provide account numbers for their customers, you can sometimes verify whether a person has an account--especially at a larger commercial bank.

    Visit the local sheriff's office with a copy of your writ and a list of banks to visit. Explain your collection procedure. You may also include a "memorandum of explanation" that details any additional funds you will recover, such as interest or research fees. If your sheriff's office declines to process levies, contact a licensed process server in your community. The process server can also serve a levy.

    Wait for your funds to be sent to you by the sheriff's office. You could wait as long as a full month--many banks hold levied funds for up to 21 days before submitting them to the sheriff, and the sheriff may hold them for an additional 14 to 21 days before sending payment to the creditor. This is because the debtor has the right to file a "claim of exemption" to contest your right to take his money.

    References

    Resources

    Tips

    • If you cannot locate any information about your debtor, ask the court to convene a debtor examination hearing. This hearing compels the debtor to appear in court with a list of all of his banking accounts, assets and other sources of income, to make it easier to file a garnishment or levy. If the debtor fails to comply, he can be held in contempt of court and a bench warrant may be issued for his arrest.
    • Depending on your relationship with the debtor, you may wish to employ a process server instead of a sheriff to precisely time the execution of the levy to bank officials. For example, if you know your debtor pays his rent on the first of the month, present the levy on the that day so that you can take your money before his check to his landlord can clear the account. Beware, though--this is a hardball tactic that can further erode a debtor's financial standing.

    Warnings

    • Levies can get messy if the debtor has shared bank accounts or commingles ordinary income with income that is exempt from garnishment or levy, such as a pension or child-support payments. Consult with an attorney if you must handle these more complicated cases.

    Writer Bio

    Jason Gillikin is a copy editor and writer who specializes in health care, finance and consumer technology. His various degrees in the liberal arts have helped him craft narratives within corporate white papers, novellas and even encyclopedias.

    Источник: https://smallbusiness.chron.com/attach-garnishment-debtors-bank-account-11973.html

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