I realize this likely varies by institution…I’m just asking this as a general question.
If one has the bank name and account number of another’s account, one will likely not be able to make a withdrawal, right? As in, other information is needed besides that?
The reason I ask is I live in a house with a group of students some of whom are a bit “unsavory” in their activities and I found the account information of a former resident stashed away in a bathroom and was concerned that they’re trying to find a way to steal his money.
I mentioned to someone else what I found and they said I should just forget about it, as banks usually require PIN, etc. to make a withdrawal. I’m just worried though as I liked the guy who used to live here, although don’t know how to get in touch with him. I was thinking of calling his bank and letting them know what I found and asking them to get in touch with him, but that might be overstepping my boundaries.
I hope this is in the right forum…my main question is the one requiring a factual answer re: is it really that easy to gain access to another person’s money.
Thanks!
**I get paperless statements so this is not something I need to worry about re: my own accounts, plus I am moving Friday.
I can easily get that information from every single person who has ever written a check to me…
You’re right…so banks must have some sort of safeguard then.
I was just disturbed by finding his account statements hidden away in a bathroom and was worried that they were cooking up a plan to go into a bank and fill out a withdrawal slip in his name.
Depends on the bank, and not just the company but also the branch. The following are my experiences at one branch.
With a card and PIN, they can withdraw some amount from an ATM, usually about $300, but this number can be changed by the accountholder. In the branch, a card and PIN lets you withdraw $500 or $1000 (memory’s hazy) I believe. Any more requires secondary ID, usually photo. You can also get by with no card if you have an ID and can provide personal information, e.g. which branch you opened the account, partial SSN, address, phone number, etc. Depending on the size/risk of the transaction, more of these might be required.
If the money is stolen, a review of the camera footage will show the thief and that the accountholder did not take the money out. This would facilitate prompt return of the money, and the account number would be changed.
If a person is really worried, they can put a alphanumeric password on the account that is useable at the teller window.
It wasn’t widely advertised, but we occasionally let someone take out $100 per day with no ID. If they seemed unsavory we could refuse. This required 5 or so pieces of ID, and if the account information showed a PIN, they had to input it anyway without a card.
You housemates should know that bank fraud can lead to years in a federal pound-you-in-the-ass prison. As the former housemate is a student, I’ll bet he has about $53.77 in his account right now; will it be worth it? I hope you have a lock on your door.
He has a few thousand in the account (I know this as I removed the info from the public area).
I appreciate the response…I’m hoping that nothing happens, and if it does, the bank notifies him of a suspicious transaction/refunds him. And I’m going to try to get in touch with him through mutual friends.
Maybe researching the punishment for that sort of thing in NYC and leaving that info out in a common area will dissuade potential criminals in my house.
And I have a deadbolt on my door!
I once ordered a box of checks from my bank. My apartment at the time had a common area where the mailboxes where. Although the box should have been big enough to fit in my mailbox, the checks never arrived. I assume the mailman left them outside of the box, and someone stole them.
All the money in my checking account was cleared out within a day. Not just by people writing checks. People were able to wire transfer money out of my account. At the time, I had a security code on my account that you had to use to authorize a wire transfer. And yet, somehow all the transfers went through. When I was at the bank throwing a fit, the lady working with me was equally perplexed about how the transfers went through. (I don’t know if wire transfer is the right term, it was some type of electronic transfer).
The bank refunded all my money, and I my account number was closed and a new one was opened for me. And yet, the bank still kept processing the forged checks written on my old account. They would just deduct it from my new account. This went on for months. It was a huge pain in the ass. They always refunded me the money, but it’s still annoying.
And for the few forged checks they did block, I started to get collection notices. That was fun.
I don’t know if this answers your question. I moved, and now I have a mailslot in my door, so I don’t have to worry about checks getting stolen in a common area. But the whole ordeal made me completely paranoid about protecting my financial info.
I don’t blame you…that’s awful.
I don’t want this to happen to that guy, so perhaps I’ll try to reach the bank tomorrow…usually banks have limited hours on the weekend and tell them that this guy’s account information was compromised. I hope they take me seriously.
It’s stupid though…when my bank sends me mail, they only print the last 4 digits of the account, but this guy’s thing had his account, his local branch, everything.
I know my boyfriends account number, his pin number, and his debit card number. I know every address he has had (except dorms), his date of birth, his social security number, his mother’s maiden name. I know every password he uses online. I know the address of the bank where he opened his account and I know all 4 of the names the bank has had since he opened his account. I balance his checkbook and pay his bills. The bank tellers at his local branch know I’m his girlfriend and that we live together.
They will NOT let me withdraw money from his account without him present.
Of course, I can always just take his debit card and go to an ATM.
Bright and Shiny’s story is awful. I have long wondered what the “Nigerians” are going to do once I tell them my account number. I’ll bet there is a crook inside the bank. When my wife’s purse was stolen, within 15 minutes, someone had charged two fur coats from the same establishments to her card. You can’t tell me that the clerk wasn’t in on it. It was transparent, they didn’t even charge us the $50 they were entitled to.
Security dork here - there’s a reason that the PCI DSS (Payment Card Industry Data Security Standard) requires encryption or truncation of account numbers. If I came across an account number and wanted to be evil, I wouldn’t need a PIN. I’d use social engineering as a first step, spear phishing second, etc. Being a bad guy isn’t difficult when most folks don’t think about security.
BTW - I consider the PCI DSS to be a horribly flawed standard, for anyone who is familiar with it.