Is it safe to give out your bank account number?

No, it’s not safe to give everyone your bank account details.

Jeremy Clarkson of Top Gear fame believed that all people could do with his bank account number is put money into his account. He was so sure he published the details in a newspaper.

Soon after he found £500 missing from his bank account, someone had set up a direct debit from his account and donated it to a charity called Diabetes UK.

Lesson? Don’t give out your bank account details to just anyone. In fact, give out as little personal details as possible. There are so many people in the world looking for opportunities to commit fraud and to take your money, usually using what’s called identity theft.

Sometimes you have no choice, e.g. you want to sell someone an item and you want them to deposit money in your account. It’s difficult to completely avoid these situations, but keep the information as private as possible.

Read about the incident here, it’s amusing.