To keep your information safe, we suggest only providing your BSB and account number to people you know and trust (such as family, friends or your employer etc.)
Direct Debit fraud occurs when a debit is taken from your account without the proper authority from you set out in a valid Direct Debit request. Sometimes this has happened when BSB and account numbers published online or in a public document have been used via Direct Debit to debit accounts.
If you do enter the wrong account or BSB number the payment will be made to the wrong account (unintended recipient). This is known as a mistaken internet payment. The ePayments Code sets out a process that will help consumers get your money back if it has gone to the wrong account.
It's generally considered safe to give out your account number and sort code, but you should always use common sense and avoid sharing your bank details with people you don't know or expect payments from.
What is the safest way to accept payment? Besides cash, a certified check is the safest way you can receive a payment to your business.
By and large, credit cards are easily the most secure and safe payment method to use when you shop online. Credit cards use online security features like encryption and fraud monitoring to keep your accounts and personal information safe.
The safest way to receive money from a stranger is to enquire about the money transfer service provider that they are using to send you money. Make sure that you also trust the person who's requesting the money– ensuring that they're not doing so by putting undue pressure on you to provide a monetary gift.
If fraudsters can combine your bank details and other easy-to-find information — such as your Social Security number (SSN), ABA or routing number, checking account number, address, or name — they can easily begin to steal money from your account.
Don't share your Debit / Credit cards with any one. Don't share your personal information like Debit card details/PIN/CVV/OTP/Card Expiry Date/UPI PIN, over phone mails/e mail/SMS to anyone even though some one pretending to be bank officials. Your bank never asks for such details to customers.
Be stingy with your banking information to avoid bank scams. Know that less is best when it comes to sharing info: Avoid giving your account and routing numbers to people you don't know. Another tip to prevent fraud: Go for multi-factor authentication when banking online.
Go to your notifications in the CommBank app or check your NetBank inbox and enter the password. If you don't receive it, call 13 2221. Choose the accounts you'd like to share. If a joint account is enabled for data sharing, you'll be able to select it, otherwise you'll need to enable it first (see below).
Sending money domestically or internationally via bank or wire transfer is safe to do. But only if you are 100% confident about who the recipient is. Most bank transfer fraud is done through mistaken identity – rather than a fault in the system.
A BSB (Bank-State-Branch) is a six-digit number that identifies banks and branches across Australia. Use our locator tool to find the BSB of a specific branch. Just type in the branch location then click on the branch you need the BSB for. Got the BSB but need the branch details?
No, it is not safe to send bank details by email. Emails are unencrypted, meaning hackers can easily get access to your account information. You also expose yourself to risk if you are sending your bank details to scammers.
No. Only the account holder can set up the Direct Debit Instruction.
Eight-digit account number of the account you're paying. A payment reference (often your name or customer number) to let them know the money came from you. Sometimes you'll need the name and address of the bank you're sending the money to. This helps them to check that sort code is right.
It is a secret number and a vital security feature. Never share it and be careful while using it at ATMs and PoS machines to ensure that nobody is looking over your shoulder to steal this secret from you.
Bank and credit card statements usually contain your name, address, and details about your account that can be used by identity thieves to commit fraudulent acts, while any other mail you receive may also contain similar information.
This is means that, on the whole, bank transfers are a safe way to send money, but you should also exercise caution when using them. Luckily, many forms of bank transfer have rigid security features built into them to combat fraud and avoid mistaken payments.
Bank-to-bank transfers: receiving money in your bank account. This is the most common method for receiving money in Australia and involves your sender's bank overseas to transfer the funds to your bank account in Australia. It is also referred to as a telegraphic transfer or a wire transfer.
For all domestic transactions, you'll need the recipient's full name as shown on their bank account, their BSB number, and account number. Some banks might require additional information, depending on the transaction type - and for international payments you'll usually have to provide a SWIFT code, too.
If you need to send money from Australia to a recipient in the United States of America, one of the most efficient ways to do so is via international money transfer through a licensed provider, like a bank or a specific money-transferring company.