What information can a bank not release over the phone?


Quick Answer

Banks should ask you a series of security questions in order to confirm your identity before they discuss any personal matters. Banks do not provide full account numbers, passwords or PINs. Banks cannot discuss financial matters with anybody besides yourself, your spouse or your attorney.

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Full Answer

With the rise of scams and identity theft, it is important that you use caution when conducting financial business over the phone. If you feel uncomfortable talking about finances over the phone, tell the customer service agent you will go into your local branch.

In accordance with the FDIC, banks also cannot give you any passwords, PINS or full account numbers over the phone for the same security reasons. They also will never ask you for any of this information. If they do, this is a big red flag, and it may indicate a phishing scam in progress. You should immediately hang up and call your bank. These guidelines also apply to any online help resources a bank may use.

Customer service agents may ask you to verify your date of birth, the last four digits of your social security number, your credit or debit card number, and the last few transactions on your card. Once verified, banks can discuss the amount of your debt, as well as any payment options. The bank can only discuss financial matters with you, your spouse or a verified attorney.

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