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In the US, everything needed to initiate an ACH is printed on a Check... and people feel very safe writing checks to one another and to companies. You never rea
by conductr 9y ago
In the US, everything needed to initiate an ACH is printed on a Check... and people feel very safe writing checks to one another and to companies. You never really know who sees your checks, where they are stored long-term, etc. Also, it's trivial to find a website that will sell you a box of checks, they do no verification to your identity/ownership of the accounts, they basically just print what you tell them to. Nothing is secure about banking, it really does need a modern reboot where we just sever ties to the legacy features
- feld 9y agolegally you can write a check on anything: post-it note, napkin, etc.
- mjevans 9y agoIsn't it literally a money transfer contract?
- wool_gather 9y agoAs a technicality, yes, but your bank almost certainly has a rule about what it will accept. And there's nothing illegal about that rule.