Why is the Government changing my bank account numbers??

Ripley

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Sat Mar-26-05 04:44 PM
Original message

Why is the Government changing my bank account numbers??

Anyone else get this type of letter? I've had multiple accounts in this federal credit union for 15 years.

Safeguarding member information is very important to us. In response to new government regulations, XXXX is required to change some member account numbers. Thus, we will begin a systematic conversion of selected account numbers over the next few months.

The conversion will remain transparent to you, for the most part. You will not need to fill out any forms or change the way you currently bank with XXXX. Etc....

(Emphasis mine because WHY ISN'T IT ALL TRANSPARENT?, and I WAS selected, just received the new numbers.)

WTF? Is this Homeland Security or what? Why was I selected to have my long-held account number changed? Is the government now going to monitor the way I use my account? Isn't that illegal? I suppose it will only be a minor pain in the ass to change my account number with my online bill paying service, but the point is...

:wtf:

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BuyingThyme

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Sat Mar-26-05 04:46 PM
Response to Original message

1. One of mine was just changed.

I didn't know it had something to do with the gov't.

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Ripley

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Sat Mar-26-05 04:48 PM
Response to Reply #1

4. What was the reason they gave you for changing it?

I've never had a problem with any of my accounts, never overdrawn or anything.

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BuyingThyme

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Sat Mar-26-05 04:54 PM
Response to Reply #4

7. I just looked at the letter.

I says they're upgrading their operating system.

No mention of gov't, but that doesn't mean anything.

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MADem

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Sat Mar-26-05 04:48 PM
Response to Original message

2. Maybe they KNOW your info was compromised

Check and make sure it is a legit letter, first off. Second, call the credit union and talk to someone in management to try to get the full story. They may well lie to you to avoid exposure to liability, but you just may get someone to tell you the truth....

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Ripley

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Sat Mar-26-05 04:52 PM
Response to Reply #2

6. Yeah, it's legit.

I called to verify the other day and it was confirmed. Just today I received my new numbers with this letter:

At XXXX we are serious about the confidentiality and security of your financial information. As you know, XXXX is responding to government regulations and changing your account number from your SSN to a new, unique number that is less vulnerable to fraud and identity theft.

AHA! I just got it....the old number did include my SSN, but also had other numbers added onto it. Well, now that makes a little more sense. But it still bothers me that they didn't ask me if I wanted it changed. Why is the government in this business?

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sbj405

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Sat Mar-26-05 04:48 PM
Response to Original message

3. Did your account # contain some or part of your SSN?

I know that a lot of things (health plans, etc.) have had to stop using SSN as an ID number.

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Tesibria

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Sat Mar-26-05 04:49 PM
Response to Original message

5. did your acct # have social-security related numbers in it?

i.e., was your social security number part of the acct number?

If so - that's why they're changing it - a bunch of states have past laws prohibiting use of social security numbers in employee IDS and other account info to cut down on identity theft, etc.

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Ripley

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Sat Mar-26-05 04:55 PM
Response to Reply #5

8. Yes! I just re-read the letter and caught that.

Problem solved. Thanks, I didn't catch the SSN part in the most recent letter.

Just can't be too sure about this dangerous and sneaky government.

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IndianaGreen

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Sat Mar-26-05 04:57 PM
Response to Reply #5

9. They are doing the same thing with driver's licenses

In Indiana one had the choice of using the SSN or a computer selected random number as the license number. The law was changed and now all the licenses that used the SSN are being converted.

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