handing out bank details

[hairyben]

Okay, I'm an electrician and send people invoices, they send me cheques but often request account details for these new fanged interweb banking transfers. Which is fine, and I'm thinking it'd be convenient to supply A/C no and sort code on my invoices for this reason, but am a bit worried these could be used fraudulently.

What I decided I need is an account that will only accept incoming payments that can be transferred (ideally automatically) or by me online to other accounts. Spoke to my bank, who tell me I need a business account and an apppointment with some bloke and after all this all that transpired is that a bis account is no different from a reg account. He didn't seem to think putting my account details on all my invoices would be an issue though. Is this right, ie am I being over cautious? Or should I set up a "clearing account?"

Thanks Ben

[sinizter]

Every time you write a cheque, you are giving out these same bank details.

It is possible to set up direct debits with these bank details, but that is about all.

[randlemarcus]

Didnt Clarkson do this on air, and the worst that happened was that someone set up a DD for Greenpeace. If you are worried, then perhaps a separate account at your own bank that you only use for inbound stff is a good bet.

[soad]

Do not be alarmed by this as all the details you give out are the same as those on a cheque.

randlemarcus said:

Didnt Clarkson do this on air, and the worst that happened was that someone set up a DD for Greenpeace.

Yes he did:
http://news.bbc.co.uk/1/hi/7174760.stm

[Eric Mc]

soad said:

Do not be alarmed by this as all the details you give out are the same as those on a cheque.

Only it's the reverse process.

With cheques your bank details goes to people YOU want to pay.

With electronic banking, your bank details goes to your customer so THEY can pay you.