[a-saleh]

Is this a US specific thing? Why would you need to keep your SSN and bank account number private?

Ok, I know US citizens are not automatically given ID cards, so if everybody takes the SSN you give them at face value, I get that.

I don't understand the bank account especially. Like I have some automatically deducted monthly payments, but I remember I needed to specifically authorize the receiving account to be able to ask for the money with my bank.

With cards,the standards are starting to get there, i.e: I can enable with my bank that every time I use the card for internet payment, I need to confirm my identity with code they send me in sms. As far as I know, I could ask for different second factor of authentification, I know my dad has standard rsa token.

Unfortunately I had problem using this with some foreign site (I think it was Amazon?), so I had to disable it. I live in Czech Republic.

[toast0]

> Is this a US specific thing? Why would you need to keep your SSN and bank account number private?

For SSN, if you have good credit, you a SSN and a name is basically all that's needed to open a new account connected to your general credit record. If the account was opened in your name without your consent, it's a lot of work to get it disassociated from you.

For bank account numbers, most payments are processed through the 'automated clearing house', which is fancy check clearing. In the old days, maybe your bank would look at the check presented and return it without payment if they could tell it wasn't legitimate / your signature wasn't right. With an electronic withdrawl, there's not really any information provided to them to check anything.

[eru]

The poster you replies to knows the answer you've given. The question was rather: `Why is the system set up in such a way that this is the case?'

[XorNot]

The automatic withdrawal system has always seemed ridiculous to me because it inverts the dependency chain for my finances but still provides no one any guarantee they get their money.

It's a constant pain that there isn't a common standard scripting language for finances so I can automate this stuff sensibly.

[hayksaakian]

for example, someone could take your SSN and then go apply for loans at the bank under your name