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While its generally safe to share your bank account number and sort code, the risk arises when these details are combined with other personal information. If a scammer gets hold of additional sensitive data like your Social Security number, address, or name, they can potentially steal money from your account.
If a criminal has both your routing number and account number they can potentially steal money from your account through fraudulent ACH transfers and payments.
The Preferred account is designed to help you save money on the things youre already paying for and protect what matters most.
What is Scotia Preferred Package and what are the benefits? The Preferred Package offers our most popular features packaged for our customers everyday banking needs. Preferred Package account holders can take advantage of various fee waivers and preferred rates across other product categories.
Frauds: This is the biggest reason for not giving your bank account number to just about anyone. Banks clearly suggest not sharing your bank account details unless you are expecting a fund transfer. Even in the case of fund transfer, make sure that the person crediting your bank account is trustworthy.

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If someone gains access to your bank account and routing numbers, they can use the information to fraudulently withdraw or transfer money from your account. They can also create checks, claim your tax return or commit other forms of financial fraud.
Bank account numbers typically consist of eight to 12 digits, but some account numbers could even contain up to 17 digits. You can find your account number on your checks or by accessing your account on your financial institutions website or by contacting the bank directly.
Your bank account number is used for routing funds, but it doesnt provide access to your account balance or other sensitive information. Accessing your account balance would require more secure authentication methods, such as a PIN, password, or other verification processes provided by your bank.

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