Hi all, I just want to make a deposit to an online company's bank account for a product they're selling. They've provided me with their BSB number and what I think is their bank account number.
I just wanted to know if it was possible for the company to access my account and withdraw money from it once I've made the deposit… I'm really worried about the company accessing my bank account and withdrawing all my money! What's the safest way to deposit money???
Thanks!
Transferring to a company's bank account is also safer than an individual's account too.
No, they won't know any of your account details. All they know is a reference number / name for the transaction. You provide this reference number / name when you transfer the money. It's usually your invoice number or your name or both, so they can identify who deposit the money to their account. It is a safe, easy and pouplar way to tranfer money to buissness or individuals.
Nah, pretty normal situation, done all the time, zero scariness unless you mean yourself. Recipient won't be told the depositor's account by the bank just the reference number but of course the bank keeps a record of the transaction. Relax.
Just don't be giving money to a sexy foreign man/woman, Prince in Saudi Arabia or someone on an oil rig.
So Nigerian Royalty is good?
Yeah, I did actually get my $18556295625265556 from him. Good guy.
Was it in Zimbabwe dollar?
As all have indicated above, you are worrying needlessly about this. Just because someone/company know's your account number, this does not mean they can withdraw all your money! In any case, assuming that you don't have "online banking" set up for your account, or that you don't trust that system, then there is always another option; just walk into a physical branch of the bank where the intended recipient's account is held, with the required amount of cash, and deposit it into their account via a teller/deposit slip (on which you fill in your name, as the depositor). Keeping your little "stub" bit of the deposit slip of course, which is stamped by the bank, as proof of payment. That way they have none of your account information, you have physical proof that you made the payment, and they receive the money into their account the instant you pay it.
Actually it is pretty odd for a big company to deposit money - don't they have Paypal or credit/debit?
Direct deposit predates Internet payment and is still offered by many companies and bodies, e.g. councils, because no transaction charges. It's one way to avoid getting slugged for CC payment by budget airlines for example.
To avoid any fears you may have, why don't you simply go to the company's bank and make the deposit over the counter ?
He'll probably worry about getting mugged on the way. :)
I guess we will read about the follow-up on this transaction in 2016.
there is no way they could access your account.
your user name indicates alot about your belief.