[Cosmo]

I can imagine Mr Tibbs frustration especially given his tragic medical condition. I must say that having to rely only on a set of BSB and account numbers to transfer large sums of money is a stressful event. However recently when transferring some money through a bank (not one of the big four) I was delighted to see as I entered the BSB number the bank name and it’s address appeared and then the bank account name after I entered the account number. If a smaller bank can do this, why cant all banks do it?
I realise that international transfers may be more difficult but if I can use a debit/credit card overseas, issued by an American company (Visa) through an Australian bank and the numbers on that card identify me and my bank as I move around the world, why should identifying bank account details be so hard!
Banks need to try harder using technology already available to them to prevent honest mistakes, fraud and scams.

[Des]

So you would be happy for anyone at all to be able to find your bank account by the most basic phishing – just punching in random numbers? I swear – the public is outraged when any privacy is breached. And outraged when there are privacy provisions put in place.

[Cosmo]

Des, not so fast, I already had to disclose my own full details, name, address, drivers licence, passport numbers tax file number etc to get to the point of being able to enter the BSB and account number. Are you suggesting scammers would be prepared to reveal these details to do their deeds? Numerous companies reveal their banking details for remittances with no risk. When I give my banking details it’s always of an otherwise redundant, unlinked cheque account with around five dollars in it so what value is that to a scammer?

[Ally Morgan]

I didn’t lose any life savings, but I sought to transfer what would be my annual income from one account to another, in a face to face transfer at my bank…completely stuffed up and more personal visits and multiple phone calls later, finally sorted. At the time I thought the clerk’s attention was elsewhere, but I repeated my instructions several times and she repeated them back to me!

[Author]

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