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FYI anyone can dip into your checking account anytime they want to. AFAIK there is literally zero security, all you can do is dispute unauthorized transactions
by Merad 8y ago
FYI anyone can dip into your checking account anytime they want to. AFAIK there is literally zero security, all you can do is dispute unauthorized transactions after the fact. Even with a paper check all the info on the check (including recipient and amount) is effectively just a paper trail to be referenced during a dispute.
- jjeaff 8y agoNot only that, but you only have 60 days to dispute. So don't miss a bank statement or you could be eating the fraudulent charge.
- dmihal 8y agoIt's crazy how our modern banking system has almost zero security systems in the way of someone draining your account. The account numbers aren't even secret, they're written on the bottom of every check!
- dd36 8y agoYes! And you have to catch it within 60 days. I use examples from a bad embezzlement in my pitch deck. Checks are a joke.