For many people, their financial lives are guided by what they know: checking in at the local bank, getting a statement, writing a cheque, paying money. For others, however, their financial lives are led by what they don't know: their bank account number and routing number, for example. For these people, a mystery that is often the subject of late-night television adverts can become a real worry. The danger is that identity fraud can result. If someone assumes your account number and routing number, or any part of it, is safe to steal, they could be opening a new line of credit in your name, costing you hundreds, maybe thousands of pounds more in overdraft charges over the next few months.

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Knowing what can someone do with my bank account number and routing number is not as simple as answering a single question: don't tell anyone else. You must take precautions against identity theft, but you should never make your account publicly accessible. Banks may not reveal your details to anyone, including creditors, unless compelled to by law (see the Financial Services Authority guidance on FSA Notice of Authorisation for unleashing commercial bank details). They may also refuse to share your details with anyone for a variety of reasons, including keeping your account secure and keeping your account balance low. However, if a problem does arise, your bank should inform the police.

 

Another good reason to keep your account number and routing number private is to protect your credit rating. An unscrupulous thief could try to use your account number and routing number to apply for credit in your name, leaving you with a poor credit rating and debts you cannot pay. This would damage your credit rating and your ability to get loans. However, if you are careful and make payments on time, it is very difficult for anyone to make use of your account numbers or routes to gain access to your accounts. If you are concerned about what can be done with your account details by another person, then you should contact your bank immediately.

What Can Someone Do With My Bank Account Number and Routing Number?

 

You may also wish to keep your account information secure. This can be achieved by applying for a PIN, which is a five-digit code that is assigned to you when you open an account. It is often the best option to use your account number and routing number when you apply for a PIN. In addition to being easily remembered and easy to insert, your PIN is subject to security check once it is stored inside the banking machine. The checks will reveal whether your PIN is being actively used to make purchases and therefore reveal whether someone has access to it.

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Another way of protecting your account information is to change your password every so often. For safety reasons, it is advisable not to use your account number or routing number for your password, as it could be intercepted by a thief if they were smart enough to crack the combination. If you must, use a different password for each one. Some people like to use different passwords for different accounts. It is also possible to have special passwords that banks offer customers in order to save their account numbers and routing numbers.

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Your bank can also help you protect your identity from identity theft. All transactions made with your account are recorded and sent to your banking institution, where they are scrutinized for any unauthorized transactions. If your account information gets into the wrong hands, it could be used to commit fraudulent activities. Banks sometimes install fraud detectors on their telephone systems to prevent this from happening.

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If you suspect that you have been the victim of identity theft, then you should inform the police immediately. They will look into your case and either file charges against the person who broke into your house or recover whatever money was taken from you. You might wonder, though, what can someone do with my bank account number and routing number if I do not report the incident to the police right away? You can file a report for a residential fire or robbery. You can also file a report if your phone is taken during a purse snatching.

 

For phone security, you should keep your routing number encrypted so that it cannot be read by anyone. This will prevent the thief from knowing where to make a phone call from. Your banking information should also be kept encrypted so that it cannot be read on a computer, whether by a thief trying to access it on your home computer or a company that does background checks on employees. This will ensure that your banking information cannot be misused.

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