How do banks work in the USA?

[Litargirio]

So I need to pay someone in the USA for something, and I asked for their bank number to do a money transfer, but they were like

 

We don't give out any bank account information. In the United States giving out bank account information is a very bad thing.

 

What sense does this make? What kind of evil can you do with someone else's bank account number? Where I live, people and businesses do give out their bank numbers for money transfers to be done to them (because this is the only thing you can do with a bank account number here), so this leaves me kinda confused.

[mynameajeff]

So I need to pay someone in the USA for something, and I asked for their bank number to do a money transfer, but they were like

 

 

What sense does this make? What kind of evil can you do with someone else's bank account number? Where I live, people and businesses do give out their bank numbers for money transfers to be done to them (because this is the only thing you can do with a bank account number here), so this leaves me kinda confused.

Well, in North America identity theft has a very strong presence. IF you have someones bank number you can easily target them for their password digits. 

 

If you want to pay someone I advise you to try and use paypal. It is more trusted than a straight transfer.

 

EDIT: 

 

To elaborate there is many ways to steal bank information, and the password digits are the easiest thing to get out of all the information needed. For "scammers" to make a fake bank card that accesses your account they need the physical number on your card. And unless you have a Visa/Debit than that is extremely hard for them to get at

[Litargirio]

Well, in North America identity theft has a very strong presence. IF you have someones bank number you can easily target them for their password digits. 

 

So you can withdraw moneys from an ATM with just the bank number?

[pwn_intended]

Paypay is a good option, another one is just interac e-transfer. If you use online banking, you are probably able to send money directly from your account to someone via email.

[pwn_intended]

So you can withdraw moneys from an ATM with just the bank number?

Not directly, but if you are able to get other information about them like address, DOB, or whatever you could possibly apply for loans in their name, open up a credit card, or lots of other bad things...

[Litargirio]

If you use online banking, you are probably able to send money directly from your account to someone via email.

 

Where I live, you need the other person's bank number to do dis.

[agentagent47]

why do you think paypal was made my american ? for that reason bro. i don't know how it work, but i have the same experience like that before hand. use paypal

[mynameajeff]

So you can withdraw moneys from an ATM with just the bank number?

Not just a bank number, however a bank number is a start

 

It is very interesting to see how banking is done in other places in the world.

 

Try making a PayPal account

Here

[pwn_intended]

Where I live, you need the other person's bank number to do dis.

 

Thats annoying. I can send money to someone via account number as a "transfer" but i have a completely different option that just lets me email money. PayPal will be your best bet then.

[Litargirio]

use paypal

Try making a PayPal account

PayPal will be your best bet then.

 

I do have a PayPal account. I will use it, thanks.

[ZetZet]

The struggle. Here bank number would only be useful for giving that person money. I don't understand how so many people get their identities stolen.

[Geralt]

Oh yeah what do you guys call ATMs in America btw? Is it still called ATM in the US? Purely curious is all.

[Griffscavern]

Oh yeah what do you guys call ATMs in America btw? Is it still called ATM in the US? Purely curious is all.

Yes it is still called an ATM here too.

[Geralt]

Yes it is still called an ATM here too.

 

That's good to know. Been wondering what you guys call ATMs there. Well now I know lol

[Blade of Grass]

It depends on what information you asked for, but generally transit number, institution number and account number (at least in Canada) allows you to both push (give) and pull (take) money.

Normally if you want to send money you would use some sort of email based transfer, Interact E-Transfer or Visa's (some banks also offer their own free ones).

[GeekJump]

That's good to know. Been wondering what you guys call ATMs there. Well now I know lol

 

Nah Geralt, he is lying to you! We like to call them Cash Cozies since they hold and keep our cash nice and safe (and warm? )

_______________________

 

For wire transfers and stuff people can use their bank a/c's wire # but most people here are paranoid to give even that # to random people (vs a known company). People rather use sites like Paypal for that extra level of protection.

[heathd]

Most banks have two routing numbers per account. For for direct transfers to another bank... Say for loan payments, and second for person to person transfers. The second one is supposed to be useless if leaked since it can only be initiated by the account owner and isn't used as identifying information for account recovery.

Either way, I can't say I blame the guy for not wanting to give out any such info.

[Geralt]

Nah Geralt, he is lying to you! We like to call them Cash Cozies since they hold and keep our cash nice and safe (and warm? )

 

They keep the bank's cash nice and safe. It only yours when you draw it out.

[GeekJump]

They keep the bank's cash nice and safe. It only yours when you draw it out.

 

Why you got to hit me with that realization??? Now whenever I visit a cash cozy I will remember this...

[dalekphalm]

So I need to pay someone in the USA for something, and I asked for their bank number to do a money transfer, but they were like

 

 

What sense does this make? What kind of evil can you do with someone else's bank account number? Where I live, people and businesses do give out their bank numbers for money transfers to be done to them (because this is the only thing you can do with a bank account number here), so this leaves me kinda confused.

You have several options. If you also live in America, you could send them a cheque (also known as a "check" in lazy-ass dumbass american speak lol) - preferably a certified cheque or a money order.

 

They could send you a void cheque, and you could do a bank transfer via the information on that (Which would include their bank account number).

 

Of course, the safest way, for both you and the other party, is something like PayPal. Why not use PayPal?

[toms94z71]

not very well is how they work lol. this family guy episode http://www.imdb.com/title/tt1179325/ pretty much sums up how identity theft goes in america, in other words good luck proving you are you lol.

[Litargirio]

Of course, the safest way, for both you and the other party, is something like PayPal. Why not use PayPal?

 

Paypal will be used.