| Pages in topic: < [1 2] | Asking for bank details? Thread poster: Kristen Canavan
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| Giving out bank details is usually not the issue | May 27, 2020 |
Asking for bank details is a common feature in many scams. Scammers of the infamous "African prince" or "Microsoft lottery" variety were already doing it decades ago. As I understand it, it wasn't done to outright steal them (which should be impossible with proper bank security anyway) but rather to get one more data point that indicates they have ensnared a compliant and trusting person. When such a victim is hit with the good ole overpayment scam, they are more willing to go along with the ins... See more Asking for bank details is a common feature in many scams. Scammers of the infamous "African prince" or "Microsoft lottery" variety were already doing it decades ago. As I understand it, it wasn't done to outright steal them (which should be impossible with proper bank security anyway) but rather to get one more data point that indicates they have ensnared a compliant and trusting person. When such a victim is hit with the good ole overpayment scam, they are more willing to go along with the instructions and not become suspicious and start asking too many inconvenient questions.
Edit: As an experiment, you could try making up something ridiculous, such as "Thee van Krook Commercial Bank" and send it back to them. There is a distinct possibility they won't bat an eye and just go on with their plan.
[Edited at 2020-05-27 11:41 GMT] ▲ Collapse
| | | | Tom in London
United Kingdom
Local time: 17:53
Member (2008)
Italian to English
| When to do it | May 27, 2020 |
As a general principle, applicable in all situations, you should never give anyone your bank details other than on an invoice for work completed.
| | | | Sheila Wilson 
Spain
Local time: 17:53
Member (2007)
English
+ ...
Anyone who gets one of these jobs where the client is very happy to accept your quote and even suggests an upfront payment needs to be very wary. It could be legit but it's more likely to be the classic overpayment scam. Do please check out the Scam Centre on this site.
There are some checks suggested in the Risk Management Wiki in the education section of the site. When you suspect a scam, also do some Google searches for the person's email address, name, etc., each time along wi... See more Anyone who gets one of these jobs where the client is very happy to accept your quote and even suggests an upfront payment needs to be very wary. It could be legit but it's more likely to be the classic overpayment scam. Do please check out the Scam Centre on this site.
There are some checks suggested in the Risk Management Wiki in the education section of the site. When you suspect a scam, also do some Google searches for the person's email address, name, etc., each time along with the word "scam". Ask for phone number, website, postal address etc. and check them (if you get them).
If you've already given your details, don't panic. There's nothing to suggest anything bad will come of it. You just need to avoid wasting your time, and certainly don't refund any money! ▲ Collapse
| | | | | IBAN is enough | May 27, 2020 |
Tom in London wrote:
Direct bank transfer is better than PayPal but to do it (between European countries) the payer needs:
Bank name and address
Account no.
Sort Code
name of account holder
IBAN (international bank account number)
IBAN BIC (SWIFT)
I believe that within the SEPA banking system, which covers most of Europe, the payer does only need the IBAN and nothing else. All other data are included in the IBAN or can be referenced by the executing/receiving bank. For reasons of tax compliance, you also should give the name of the account holder/beneficiary, and your VAT ID. But these data are really all a payer ever needs if both of you are in Europe/SEPA countries.
And here's my usual warning: Whenever a prospective client is more interested in the paying process than in the actual job/service, it screams scam.
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| Asking for bank details | May 27, 2020 |
The indication of your bank details : name of holder, IBAN and SWIFT, is necessary for all bank transfers and there's nothing wrong with that.
The payment of 50% upfront seems correct to me too. The only problem is if they will complete the payment after the work is done and delivered.
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