eChecks
- From: JC Dill <jcdill@xxxxxxxxx>
- Date: 31 May 2006 21:24:56 +0200
Can those in the banking/credit union comment on the eChecks issue
mentioned here:
<http://radar.oreilly.com/archives/2006/05/the_tenyear_fallback.html#comments>
<quote>
Every time you write a traditional check to somebody, they have ALL
the info they need to run as many eChecks against your account as they
wish.
Unbelievable but true. And perhaps most surprising of all, once you
start seeing fraudulent eChecks appearing in your account, there is
*NOTHING* the bank can do to block more eChecks from being presented
to the same account and PAID!!
When (not if) this happens to you the only option is to close your
account and open a new one. I speak from experience about this new
Hotness.
</quote>
I find it a bit disconcerting to learn that a bank can't block future
eChecks. Is this for real?
I'm *really* glad I don't use checks very often anymore.
jc
--
"The nice thing about a mare is you get to ride a lot
of different horses without having to own that many."
~ Eileen Morgan of The Mare's Nest, PA
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