to ask whats the maximum sum you would be prepared to write off in this situation

[user09090909E]

if you paid someone some money by mistake, they offered to refund it if you sent them your bank account details but you didn't want to give them your bank account details because you didn't trust them, what's the maximum sum you could live with as the cost of your mistake?

am in exactly this situation and am just thinking of writing it off. but unsure becauase of the amount.

I haven't had a cheque book in over ten years, and I'd only want to refund the money the same way or came in.... just in case the requester is a fraudster.

This happened 16 years ago ffs. The direct debit guarantee scheme has since been enacted which protects against this. Why are you sourcing ancient news stories to try and “correct” people 😂

If I weren't prepared to give my bank details, I would expect to have to write it all off!

But I would be grateful if they were willing to return it. Nothing unusual about giving out bank details - how do you think cheques work!!!

@user09090909E - as a previous poster suggested, why not request it via PayPal?

What do you think someone can do with your account number and sort code? it is not your PIN , the long number on your card plus the CVS and the expiry date. If you work and have your salary paid by Bank Transfer your employer will have your account name, number and sort code, I presume they are not running amok with your cash. If you are really worried phone your bank and let them talk you through the process of transfer payments

It IS a weird thread.

It's almost as if none of this actually happened and the OP just wants to know how much she can scam people out of lol.

Sort code and account number is fine. I’ve asked people lots of times, lady who cut my grass, man who took my rubbish to the dump, I couldn’t pay them electronically otherwise.

Just give them your bank name account number and sort code and stop being so stubborn. Let them repay you.

£100

Christ almighty- you know this person?

Alternatively give them your PayPal details
Or set up a monzo or revolut account

How much was it

To answer your question, £0 as the risks you cite are so remote I wouldn’t pay to mitigate them.

Do you cover your bank card every time you get it out to pay in case someone looks at the sort code and account number on the card? I’d put the risk in the same realm as that.

If I really cared, I’d open a new account with my bank to receive the money and then immediately close it.

I haven’t RTFT so sorry if this has been suggested, but why not use PayPal or pay my contacts or something similar?

If just one of those was a reputable or accurate link you might have had a point.
But they're not.

Ask them to buy you an Amazon e-gift card. It's better than writing it off due to paranoia.

(Or use Paypal like people keep telling you)

Also a good shout, my phone number is linked to my bank so I’d ask them to pay with that

If it was "not a cold out of the blue payment" are you actually saying that you meant to send it? Then changed your mind?

🤔

I would write off up to £20 because that amount or under is not worth my time to sort out, and it's my error

But I do not have any qualms whatsoever about giving people the basic info of a sort code and account number - it's just standard for transferring money. Literally dozens of people have mine and I have never had any issues

The risks you mention OP are absolutely miniscule!

1. You can't be used as a money launderer if you refuse to take any action with the money

1. I would never take a phone call from my bank and start discussing anything with a random. I would just call them back on the official number and ask.

1. My bank would let me know via my App if a new direct debit was set up

Just send them your details and get your money
How much is it and why don't you trust them?

Both of those articles you have linked are trying to sell you something.

Both of those articles also state that there is very little risk in giving out your bank details unless the recipient has other pieces of sensitive information about you. As you are so clued up, presumably you're not going to also be giving this person your NI number, or PIN or banking passwords.

No risk can ever be fully eliminated, but what you are talking about is a mundane everyday interaction with someone who wants to put right a mistake that you made, and it's vanishingly unlikely you will end up being part of some Mr Big's money laundering operation in this situation.

Weird thread. We have our own business and every month probably have about 150-200 payments into our business account. For each of those I can see name, sort code and account number. We also have their address on file. Never has it occurred to me that someone could use this fraudulently. Our details are on every account we send out. Banks are very safe places nowadays!

How did someone so financially cautious manage to send a not insignificant (I'm guessing) sum of money to the wrong person 😅

OP, I think you might be frustrated by the answers because they're not accepting your premise and giving you an actual answer to your (possibly?) hypothetical questions. You can probably safely assume that the answers translate to £0 - or a very small amount - because most people would hand over the details and don't understand why you wouldn't in this case.

Yes, you're absolutely right that there are risks in handing over your bank account sort code to someone. Those risks are far lower than handing over other details but it's not 100% safe. The sources you've linked to are absolutely right in that respect. The fact is, though, that those risks can be mitigated if you're aware of them and vigilant with your financial information. I assume most responses are from people who are confident in mitigating those risks.

No financial transaction is risk free in this day and age.

It depends- OP did you send a friend money by accident and they want to send it back

Or a totally random person and they said they’d send it back

Also depends on the amount and what’s personal to you- to me I would need anything over £500 ish back as that’s a lot to me ? Totally depends on circumstance. Also if you did send it to a random person your bank can help get it back

Oddly enough, if someone accidentally paid money into my account and then refused to give me their bank details so I could pay it back, I would wonder what they were up to 😂

It's not arrogance op, it's very simple to avoid fraud and money laundering by directly contacting your bank yourself. Though genuinely these things are usually very easy to spot for most people.

Oh dear lord. You realise if you give them your phone number they could...... phone you? 😱

You joke, but I don't know what I hate more; identify fraud or unexpected phonecalls 🤣