Advice on direct deposit

L

lulu68

Cathlete
Hi,

I provide home daycare from working mothers from my home. One of the mothers has asked if I be willing to give her my bank account # so that she could do a direct deposit into my account. I don't know If I feel conforable doing this. If I was to decide to give it to her would it be safe? Thanks!!!

Lourdes
 
Hmmm...

Why can't she just do online payment? You don't need a person's bank account number to do that!

I'm self-employed, and one of my clients pays direct deposit, but they're a huge multi-national corporation so I'm not too worried. Also, they have my corporate account, not my personal account.

I don't think I'd feel comfortable giving out my bank account info... and you really don't need it to pay somebody electronically anyway.
 
Three words....Don't Do It! (When you are a trusting person, unfortunately with finances you should be extra careful!)
 
If you've ever written a check to anyone, you have already given them your Bank Number and the Bank's Routing number. That's extra. ;)

As far as giving someone the account number specifically for direct deposit, I'm with Kathryn, I think there are other ways to do that without having to have a person's bank account. You might check with your bank and see if there is a way to set up a transfer without giving out your information or you might utilize one of the payment websites online - of course then you're giving your bank info. to some unknown entity instead of just some lady you babysit for. Like I said before though, anytime you write a check to anyone, you've already given out all of this information already.
 
Even though our account info is on our checks, it would still freak me out a little if someone asked specifically for it.

I agree with Amber. There has to be a way that your bank can set something up that she could pay into but not have access to your account info. If I pay any of my bills online, I am giving them my account info to pay the bill, but am never given the payee's account info.

I guess the choice would be if the bank would charge a fee for that then you would have to decide if you would want to go that route.
 
Fit_mommy said:
If you both sign up for Paypal you can do it that way and she will never see your information. HTH!
Click to expand...

I understand that you can pay somebody through PayPal without their having to sign up... but PayPal is an excellent suggestion and I use it for business and personally too.

Liann is right about having already given out the number when you write a check.... I hadn't thought of it that way.
 
I set up my DD's preschool tuition as an automatic payment on my bank's bill payment system (which is free). Each month it's automatically deducted from my account and a check sent to her school. It's then up to the school to deposit it. This should work for your mom if she just wants to automate the payment from her end without having to have your account info.

PS: I use to work in the back office of a bank and there are a lot more people seeing your account number than just the person you wrote the check to.
 
If you don't feel comfortable with giving it out, don't do it. I wouldn't. I know that in this day and age everyone wants to do things electronically but how hard is it to write a check once a week? I have 2 kids in a home run daycare and I write a check out every week. It takes only a few minutes to do. The babysitter gives her DH the check and he deposits it. If anything she should do what is easiest for you not the other way around. If she was really nice she would give you cash or make the check payable to cash.
 
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