putting bank details on website
- Thread starter Victoria-Slinglady
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Parrot Hosting
Considering the ability of hackers and on-line thieving you would be bonkers to even allow your banking information to be made public. I do remember in the old days we used to put the banking information on invoices we sent out to corporate clients so they could arrange payments directly to our account. however I certainly wouldn't do that in todays climate.
As serasan says 'be careful' but honestly? just don't do it.
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- Original Poster
- #8
i have a paypal set up but reading some peoples anguish over paypal think it would be a good idea to have a safety net.
I am livid when i set up my business account i was told it is safe to give out account number and sort code. I have just spoken to the bank and the confirm what you say that yes someone could set up a direct debit. Why would the business advisor tell me its perfectly safe, will be visiting the bank on Monday
I am livid when i set up my business account i was told it is safe to give out account number and sort code. I have just spoken to the bank and the confirm what you say that yes someone could set up a direct debit. Why would the business advisor tell me its perfectly safe, will be visiting the bank on Monday
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Because they work for banks!
You must understand that the most profitable business is banking!
All banks have never been there for small businesses, they only like to help people that have money, not people that need money. Paypal is exactly the same.
I try to avoid using Paypal and ask my customers either for a cheque or ask them to do an online bill payment. It is easy for me as most of my customers book online and I see them in their houses.
I understand your frustrations, dealing with banks, we all have them.
You must understand that the most profitable business is banking!
All banks have never been there for small businesses, they only like to help people that have money, not people that need money. Paypal is exactly the same.
I try to avoid using Paypal and ask my customers either for a cheque or ask them to do an online bill payment. It is easy for me as most of my customers book online and I see them in their houses.
I understand your frustrations, dealing with banks, we all have them.
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Parrot Hosting
If you are concerned about PayPal it might be a good idea to have a chat with them. Most peoples problems occur with PayPal when they don't follow the rules (the same rules as all the other CC and payment houses) or they don't set up their businesses properly so leave themselves open to abuse or accusations of abuse.
PayPal has been my main banking system for 15 years with various business interests. I trust them to be strict and fair and they have served me very well and I use them for PDQ, Direct debits, Subscriptions and countless other transactions. My whole on-line business revolves around their services.
I have in that 15 years used many land banks but in every case I have found them less than reputable in managing my affairs, expensive and dictatorial and in come cases, very biased.
I know a lot of people don't trust them but, I think they probably don't understand that PayPal are bound by much stricter rules than landbanks because they work in instant transfers of multi-currencies and have to work seamlessly across all national borders and therefore abide by different national regulations.
If you wanted HSBC, Barclays or NatWest to work that fast and seamlessly they would piss themselves.
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- Original Poster
- #11
i have major problems trawling through all the terms and conditions i find them very confusing and worried i would find myself very much out of pocket.
I think if i get in touch with the business link advisor will be able to go over it all. Still going to pop in to the bank and let them know i am not happy. It was said in a business link course too so i have witness
I think if i get in touch with the business link advisor will be able to go over it all. Still going to pop in to the bank and let them know i am not happy. It was said in a business link course too so i have witness
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It is safe - bear in mind that every time you write a cheque out, it has your sort code and account number on it...
John
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D
Deleted member 61074
Alot of banks give out card readers nowadays to stop unauthorised people from setting up standing orders/DD/transfers etc.
I can't set up a transfer on my acct without my reader. I must admit I wouldn't put bank details on a website though. If you are serious about online sales you need a psp as others have said the easiest to set up is paypal. You could look at google checkout or worldpay have an option without your own merchant acct.
Otherwise you need a merchant acct (try streamline if you are a member of FSB)
I can't set up a transfer on my acct without my reader. I must admit I wouldn't put bank details on a website though. If you are serious about online sales you need a psp as others have said the easiest to set up is paypal. You could look at google checkout or worldpay have an option without your own merchant acct.
Otherwise you need a merchant acct (try streamline if you are a member of FSB)
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Parrot Hosting
John, how can you say its safe? have you ever heard of identity theft? do people shred their personal papers pointlessly? is there a reason why banks as said above now give out cardreaders to authenticate transactions? would they do this if it was 'safe' are we all imagining the increase in electronic theft of data and money? Do the nigerian fraudsters ask you for your banks details (the same details you reckon are safe) because they cannot do anything with them?
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easiprint
So if cheques are being phased out, and it is not safe to give your customers your bank details, how are we expected to receive payments from our customers? I personally use bank transfer wherever possible, but this does mean you have to give out your bank details. All my suppliers give out bank details, with most putting them on their invoices, as indeed do we on the invoices we supply to our customers.
IF accepting bank transfers opens you up to possible fraud, and the banks are getting rid of cheques, then I think the banking industry needs to very quickly introduce more security measures for setting up these standing orders and other withdrawals.
IF accepting bank transfers opens you up to possible fraud, and the banks are getting rid of cheques, then I think the banking industry needs to very quickly introduce more security measures for setting up these standing orders and other withdrawals.
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Of course I have, I worked for a bank for 9 years - I was pointing out the fact that your bank details are on EVERY cheque you write out and hand over and yet people still feel that it is dangerous to give out sort codes and account numbers.
So you've never written a cheque out and handed it to someone?
Card readers are becoming more prevalent as, even if someone falls for a phishing scam which results in them giving out their password, the card reader adds that additional, physical, level of security.
John
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And, as the direct debit was unauthorised, the bank was obliged to refund the whole lot...
John
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Sure, but what if they cleared out your account before a bunch of genuine direct debits, standing orders, cheques were due to go out - how would it affect your reputation with your suppliers etc if their payments bounced... not to mention the time and hassle of sorting it out with the bank.
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Yes, it would be a hassle but, if that happened and the bank debited my account without my authorisation I'd make absolutely certain that everyone was made aware of the fact that it was the banks fault - this isn't something that is suddenly a new problem...
Ultimately, the point I'm making is that people suddenly seem to think that giving out a sort code and an account number is a huge issue despite the fact that we do it all the time with cheques without giving it a second thought...
John
Ultimately, the point I'm making is that people suddenly seem to think that giving out a sort code and an account number is a huge issue despite the fact that we do it all the time with cheques without giving it a second thought...
John
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Parrot Hosting
There are two avenues here.
The first is direct distribution to pertinent need - as on invoices and cheques. In both cases directly handed from giver to receiver (obviously via post and offices but still with a reasonable level of security/trust/restriction). I wouldn't do this today although I have done it often in the past. Now, I do this by direct request rather than through uncontrolled paperwork (it takes out a lot of the unknown and puts access directly in the hands of the accounts staff or payee).
The second, is publicly broadcasting to everyone in the whole world who you bank with, your personal details and everything necessary to steal your identity and rob you blind.
Prudence, commonsense and personal protection says - don't give out unnecessarily anything that will put you at a disadvantage in terms of your personal and business security. nothing less makes sense.
The first is direct distribution to pertinent need - as on invoices and cheques. In both cases directly handed from giver to receiver (obviously via post and offices but still with a reasonable level of security/trust/restriction). I wouldn't do this today although I have done it often in the past. Now, I do this by direct request rather than through uncontrolled paperwork (it takes out a lot of the unknown and puts access directly in the hands of the accounts staff or payee).
The second, is publicly broadcasting to everyone in the whole world who you bank with, your personal details and everything necessary to steal your identity and rob you blind.
Prudence, commonsense and personal protection says - don't give out unnecessarily anything that will put you at a disadvantage in terms of your personal and business security. nothing less makes sense.
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Our account details are on all invoices and on the payments section of our website. They have been this way for years.
We have a separate payments only account. It us only in place to accept customer payments and is cleared every day with a sweep to our main account. Ask you bank to set-up a separate account to handle incoming payments.
We have a separate payments only account. It us only in place to accept customer payments and is cleared every day with a sweep to our main account. Ask you bank to set-up a separate account to handle incoming payments.
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Parrot Hosting
That sounds like a good compromise if you absolutely HAVE to put your information on the site.
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I think the key issue is whether customers would want to pay by bank transfer anyway. This is my preferred method of payment to my suppliers but I would find it highly unusual to pay this way when I'm buying from a website as a customer. We used paypal to start with and a lot of people seemed happy with that, we still offer paypal as an alternative now which is used by about 10-15% of our customers. Are you hoping that offering another payment method will increase your conversion rate? If so, there are other things you could look at first which would probably help more.
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- Original Poster
- #34
I get about 5% of customers who want to use postal orders or post me the cash,As they dont have paypal accounts or just have a cash card for various reasons I find this very long winded and open so many things going wrong, so rather than wasting there time and mine and being told bank transfers are safe i offer this payment method.
Iam looking for a payment method to add to my website, I have just discovered yesterday that i can use a paypal button that i can add onto my website that accepts cards for free which does sound to good to be true going to go a re read all the terms and conditions not that i ever seem to understand them all
Iam looking for a payment method to add to my website, I have just discovered yesterday that i can use a paypal button that i can add onto my website that accepts cards for free which does sound to good to be true going to go a re read all the terms and conditions not that i ever seem to understand them all
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