What numbers do I give for someone to pay me?

The Right Numbers for Getting Paid: A Guide to Safe and Secure Payment Information

Getting paid should be simple, but sharing your financial details requires caution. Knowing exactly which numbers to provide ensures smooth transactions while protecting your sensitive information. This guide clarifies what information is needed for different payment methods, emphasizing security best practices.

The most common method for receiving electronic payments directly into your account involves providing your bank account number and sort code (or routing number, depending on your country). These numbers uniquely identify your account within the banking system, allowing payers to electronically transfer funds. This is standard practice for salary payments, reimbursements, and invoice payments for goods or services. Think of these numbers like your account’s postal address for money.

However, simply providing these numbers isn’t always sufficient. The specific requirements often depend on the payment method:

• Bank Transfers (ACH, Faster Payments, etc.): These typically require your account number, sort code/routing number, and possibly your account name (exactly as it appears on your bank statement) to ensure the funds are deposited into the correct account. Always double-check that the recipient details match your own before sharing.

• Online Payment Platforms (PayPal, Stripe, Square, etc.): These platforms generally abstract away the need to directly share your bank details. You link your bank account to your account on the platform, and the platform handles the secure transfer of funds. You usually only need to share your platform username or email address with the payer, who then uses the platform’s interface to send the payment. This is generally the safest method, as your bank details remain shielded from the payer.

• Mobile Payment Apps (Venmo, Zelle, etc.): Similar to online payment platforms, these apps typically use your phone number or email address for identification and payment transfers. Your linked bank account details remain secure within the app.

Important Security Considerations:

• Never share your bank details over unsecured channels: Avoid providing your account information via email or text message unless you are absolutely certain the recipient is legitimate and the communication channel is secure (e.g., a verified email address from your employer or a known client).

• Verify the recipient: Before sharing your banking details, always verify the identity of the person or organization requesting them. Check for official logos, contact information, and ensure you’re comfortable with their legitimacy.

• Report suspicious requests: If you receive a request for your banking details that feels suspicious or unsolicited, report it to your bank immediately.

In conclusion, while providing your bank account number and sort code (or equivalent) is often necessary for receiving direct electronic payments, understanding the context and employing safe practices is crucial. Prioritize using secure online payment platforms whenever possible to protect your sensitive financial information. Always be vigilant and cautious when sharing your banking details.