Recycling Bank Account Numbers


#1

Hi BNZ! I was having a read of this article and wondered if you guys do the same thing?

http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/11798573/The-pitfall-lurking-in-your-online-banking-that-sets-up-strangers-as-approved-payees.html#disqus_thread


#2

Really great question Allan. Had to hunt out the real experts round here to answer as I’d never thought about it but in short, we don’t recycle numbers. Once a number has been used, it can’t be re-used. Thanks, Anna


#3

I had an old bank account that was closed for more than a year or so. I had opened a new account with the same bank. The new bank account number was completely different including the base number. I unfortunately fell into hard times and the IRD without notice cleaned out my entire new bank account. The order it sent to the bank was against the old closed account number. Its not the same as recycling but its useful to be aware that the IRD don’t need a current active bank account number to literally clean you out. As long as you still bank with the same bank any bank account number you had in the past will do.