What Bank Details Do I Give to Receive Money?

When preparing to receive money, understanding which bank details to share is important for a smooth and secure transaction. The specific information required can differ significantly based on whether the funds are coming from within the same country or from abroad. Providing accurate details ensures that your money reaches your account without delays or complications. Accurate details safeguard your financial information and facilitate the transfer.

Key Details for Domestic Transfers

For transfers originating within the same country, several pieces of information are generally needed to direct funds to your account. This includes your bank’s official name. The full legal name of the account holder, exactly as it appears on the bank account, is also required to verify the recipient’s identity.

A unique account number identifies your specific bank account. This number, typically between 8 and 14 digits, ensures funds are credited to the correct individual account. Additionally, a nine-digit routing number is essential for electronic transfers. This routing number identifies your bank to facilitate the movement of funds between different financial institutions.

Key Details for International Transfers

Receiving money from outside the country requires additional layers of information to navigate the global banking system. A SWIFT/BIC (Bank Identifier Code) is often necessary for international transactions. This 8 or 11-character code identifies your bank globally, specifying its country, city, and sometimes a particular branch.

For transfers from many European countries and other regions, an International Bank Account Number (IBAN) is frequently used. An IBAN is a standardized code that uniquely identifies an individual bank account for cross-border payments. While the United States does not use the IBAN system for domestic transfers, it is a common requirement for international incoming funds from countries that do. The physical address of the recipient’s bank branch and the recipient’s full physical address are also often requested in international transfers.

How to Locate Your Bank Details

You can find your bank details. If you have a physical check, your routing number is typically the first set of nine digits at the bottom left, followed by your account number.

For digital access, logging into your online banking portal or mobile app provides access to your account and routing numbers. Most banks display this information within the account summary or details section. Bank statements also contain your account number. If you cannot locate the necessary details through these methods, contacting your bank’s customer service or visiting a local branch can provide the information.

Protecting Your Banking Information

When sharing your banking information, only provide the details necessary for the transaction. Avoid sharing sensitive information like your online banking passwords, PINs, or the security code on the back of your debit or credit cards. Legitimate institutions will never request these details.

Always verify the legitimacy of the person or entity requesting your bank details before sharing any information. Using secure communication channels and avoid transmitting sensitive data over unsecured public Wi-Fi networks. Be vigilant for common red flags associated with phishing attempts or money transfer scams. Regularly monitoring your bank statements for any unauthorized activity after sharing your details provides security.