LvHWizard
- Edited
So in order to enhance security and privacy, do any of you utilise some of your 25 accounts for that purpose?
If so, do you mind sharing how? :)
Example configurations that I mean:
- Holding account, containing your funds - you never share this IBAN with anyone. This account should never be used to pay for anything. For enhanced security, you can put a very low daily limit so it always requires you to up that first before sending a payment larger than X. (For security purposes, this is one of those things it would be nice for to have more control over Face/TouchID & iPhone passcode. ;))
- Generic payment account, containing enough funds for your direct debits and/or for example PIN, direct debit and/or online transaction, OR splitt this up as well:
-- PIN account, if you want to separate it from your payment account for direct debits
-- Online account, if you want to separate it from your PIN and/or Payment account, only to be used for online or manual payments (Such as iDeal)
-- Direct debit account, solely used for direct debits, if you want to separate this from PIN/Online/Manual transfers
- Temporary account IN. An account number to share with others so you don't reveal your other IBAN's. Any money going in should instantly be transfered to your Holding account and shouldn't hold a balance for anytime longer than needed for you to transfer the funds away from it. (It would be awesome if bunq adds a feature to automate this!).
- Temporary account OUT. An account number to use when sending manual payments to others, so you don't reveal your other IBAN's. This account should never contain more than what you're about to send. (Again, also for this it would be awesome if bunq can automate this some way. Eg "Use IBAN x to send funds out for accounts y and z" -> Bunq tops up the temporary account for the amount required from the account you initiated the payment from, then sends the payment from this temporary account.)
- Account dedicated to your MasterCard Debit
- Account dedicated to other online facilities, such as PayPal, Skrill, et cetera. Create as needed.
- Dedicated account for online trading (Marktplaats, eBay, Tweakers V&A, whatever)
- Dedicated account for (online) parties you don't trust a lot (with your data). (eg: Alibaba, Amazon, CJIB (just kidding :P), whatever)
- Extra's: of course, you can also create separate accounts for various direct debit mandates so not all parties have the same "Payment account" IBAN (nice when there's a breach!), or you can rotate them once in a while. :)
- Disposable accounts. You create on demand when needed for a one-time payment (send or receive).
Some might wonder "why go through this trouble", "you're crazy even suggesting this" or "tinfoil hat much?". ;)
But it's pretty simple: because its hardly difficult at all to take some or all of these measures and may prevent some attacks (notably social engineering, which is troublesome as some parties take your bank account for verification purposes :/) from taking place, plus it enhances your privacy in some respects. :)
Not saying I do all of the above by the way. :P That's just a long list of examples and depends on how many layers/separations you want to create.
The single point of failure remains your phone and your own wits/awareness of scammers, but compartmentalising your funds can surely lead to some extra security and privacy - even if you only take 2 or 3 of the potential measures above. (Eg: a holding account (secret) + an online/companies payment account (direct debit, iDeal and manual payments only) + a generic payment account ("public"))