# Bank transfers



## PugIain (Jun 28, 2006)

I recently had some work done on my RCZ (stop laughing at the back there)
I had two options, only one of which was a realistic one.
Pay for the work and let the warranty company reimburse me, or let the garage keep the car until the funds cleared. Which unbeknownst to me could take up to 20 days.

Obviously I chose option one.

Now I am wanting the reimbursement from the warranty company.
They won't issue me a cheque but want to do a bank transfer. So I need to provide my account details.

I need my mind setting at ease here, I have quite a lot of money in my accounts (working, being a miserable tight git, etc etc) and would rather it didn't grow legs and go wandering. 

Is this a perfectly safe way of going about things or should I set up a new account with a zero balance to get the payment and then transfer it?


I'm expecting a flurry of "yes it's fine" "no problem" but I'm sure you can appreciate my hesitance! The work cost me £1300 which ok is £1300, but could be paid without worry. The £650 I'm due back won't be worth the not inconsiderable sums that could go from any one of the accounts I provide details for should things go awry.

Thanks.







PS : Yes OK, it was the timing chain and associated gubbins to save you wondering


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## Andyblue (Jun 20, 2017)

I had similar worries a few years ago - was getting a cash back from Canon and had sold a camera lens - decided even though pretty sure I'd be fine, I set up another account and used - still use this and it's been fine. 

Above all, it gave me peace of mind


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## Kerr (Mar 27, 2012)

It's safe, but it is worth having an account where you only keep smaller amounts of money.


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## fatdazza (Dec 29, 2010)

Generally advisable to have a current account for day to day banking (e.g wages in, bills out etc).

Any larger longer term savings should ideally be in a separate savings account.


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## jr2007 (Oct 5, 2016)

If you are only providing your account number and sort code you should be fine, it also has the added benefit of saving a trip to the bank. You only need to be wary if they start asking for your mother's maiden name, bank pin, etc.

I would echo having a separate savings account though, its inefficient to keep all of your cash in a current account.


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## Bainie (Jul 30, 2006)

Every time you write a cheque you hand these details over to someone , along with a copy of your signature ! It is as safe as any other way of getting cash, and usually quicker now as well .



Nowt wrong with an rcz btw ...


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## PugIain (Jun 28, 2006)

I do have separate accounts (5 with Barclays) but as I say they all have amounts of money in I'd rather not risk. I might be miles off the mark but I'm very selective of how I deal with money.

I don't do cheques either, think I've only ever written one!

Sent from my VFD 710 using Tapatalk


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## Deadshot (May 23, 2017)

The only thing anyone could ever do with the information account number and sort code, is pay you money. Don’t worry what so ever. It’s just the long card number you don’t give out 


Sent from my iPhone using Tapatalk


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## wayne451 (Aug 15, 2016)

Deadshot said:


> The only thing anyone could ever do with the information account number and sort code, is pay you money. Don't worry what so ever. It's just the long card number you don't give out
> 
> Sent from my iPhone using Tapatalk


They could set up a direct debit but you're then covered under the terms of the direct debit indemnity anyway.

https://www.directdebit.co.uk/DirectDebitExplained/pages/directdebitguarantee.aspx

Long card number is given out by millions of people a day when they make payments over the phone. On its own it's useless without the expiry date and last 3 digits from the signature strip (and the numbers from your postcode/house number in some cases too!).


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## slim_boy_fat (Jun 23, 2006)

No need to over-complicate what is now a very simple transaction. As others have said, as long as they only get your sort code & account number you'll be OK.


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## Gek (Aug 8, 2012)

It should be grand - For money in you aren't really giving them much information. It's a very well established procedure.

Usually if you want to transfer money out they will need to know how to get into your account online (if you are online) then after that to transfer money to another account most banks have some sort of authentication e.g. they need your psychical card to put into a reading device which gives them a code to approve the transaction. 

Sure you should probably have some sort of other account for storing funds but the reality is if someone takes money out of your account the bank will flag it and refund quickly enough.


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## kingswood (Jun 23, 2016)

Deadshot said:


> The only thing anyone could ever do with the information account number and sort code, is pay you money. Don't worry what so ever. It's just the long card number you don't give out
> 
> Sent from my iPhone using Tapatalk


as im poor as  and anyone can have all my debt i arent bothered about sharing sort and account numbers with pals and stuff for internet banking.

altho i'll always remember a story by jermery clarkson where he had the same question and said its safe as houses giving ur sort and account number out as all people could do is take money out. so he published it in his column

thats untill someone took £500 of his money and gave it to charity!

but if its a warranty company and all you give is payment details you'd be covered by the bank


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## Kerr (Mar 27, 2012)

Another ancient thread bump by a new member?


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## Itstony (Jan 19, 2018)

Well, as I have stumbled on this I can add, I have always been surprised why anyone would not want to share their bank details. 
As with all Banks, there is no restrictions or security checks sending or depositing dough in any account. 
Maybe I would get lucky and someone will in mine .


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