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I am trying to add my bank account to my brokerage account via their web interface. It is not working because I have a non-traditional phone number as my contact number, and the webpage refuses to use it in verification (not providing details on the number, just take my word for it).

Should I tell the representative on the phone (or my company payroll department, or anyone for that matter) my bank account / routing numbers, or should I consider that bad security practice? I suppose the real question is, how sensitive are these?

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    Does this answer your question? Is it safe to give out one's bank account number?
    – yoozer8
    Commented May 26, 2020 at 21:28
  • @yoozer8 it looks like in that question he's asking about his roomate. I'm asking about people who work at my bank, or my company.
    – Ken - Enough about Monica
    Commented May 26, 2020 at 21:30
  • The answers aren't tied specifically to a roommate (as opposed to an employer or other party). The only real issue is whether you trust the recipient of the information not to abuse it.
    – yoozer8
    Commented May 26, 2020 at 21:39

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You give out your account number and bank routing number with every check written. Ask yourself if the counterparty is someone you trust enough to pay with a check.

Consider if this is a legitimate business with which you have an existing and ongoing business relationship such as a brokerage, and if you trust that they don’t put your nonpublic personal information in some easily hacked system, etc.

If you’re worried, set up some additional accounts with one of your banks and designate one as your “most outward facing” account. If you have both checking and savings, give out your demand deposit account number but not your savings account number.

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Should I tell the representative on the phone (or my company payroll department, or anyone for that matter) my bank account / routing numbers, or should I consider that bad security practice? I suppose the real question is, how sensitive are these?

Don't give them this information if they called you. It is too easy for somebody to spoof the info being shown on your caller id system. You can't even trust the number it displays.

Now if you need to give them this information to enable to link your accounts, then call them. Lookup the information on their website, or on a statement they have sent you.

Your banking information is sensitive. Yes you do give it to everybody that you send a check to. But you don't want to give it to a random person that calls you.

Yes you should tell the payroll department so that they can directly deposit your paycheck. Your brokerage needs to know so that you can move money in or out of the account. A legitimate business will protect this information.

The regular security advice applies. Only enter this information on a webpage with https. Only enter it on a site that you know is valid.

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