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Not unless they either have physical check from you, OR are enrolled into MSP (merchant service provider). But MSPs will monitor fraudulent activity just like p
by joering2 9y ago
Not unless they either have physical check from you, OR are enrolled into MSP (merchant service provider). But MSPs will monitor fraudulent activity just like providing CC in any online store gives them access to empty your CC doesnt mean they will get away with it :)
- droidist2 9y agoBut isn't the same the info you provide to companies like Coinbase (account and routing number) on the bottom of all of your checks? Oh, but if they're a merchant they have different abilities?
- wmf 9y agoYeah, normal people cannot initiate ACHes but merchants can.
- mnm1 9y agoNo, all one needs to do is have access to the routing / account number and one can start withdrawing funds, paying bills, etc. There is nothing in place to prevent that and nothing else is needed.
- njarboe 9y agoAnd the police will do nothing about it. Even if the fraudster uses your checking account to pay for their power bill. Good luck getting the police in a big city to head over to the house and investigate.
- acdha 9y agoThat might be true in isolated cases with dysfunctional police departments but there are a lot of people in jail for charges like check kiting who’d disagree with you.