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Wouldn't a flag on the ACH that makes it irreversible accomplish the same goal with considerably less overhead? I think it's already possible to do this with a
by eli 7y ago
Wouldn't a flag on the ACH that makes it irreversible accomplish the same goal with considerably less overhead? I think it's already possible to do this with a wire transfer.
- ahnick 7y agoYou can't currently do that can you? If you can, please tell me how because I would love to know. :-) If you mean that this could be implemented, then great I'm all for it. From a technical perspective it doesn't seem like it should be difficult. I'm under the impression it doesn't exist most likely because the banks don't want it to. Hence the benefit of using cryptocurrency.
- roywiggins 7y agoI'm not sure these ACH transactions are actually processed like reversals. Otherwise, you wouldn't be able to reverse the same transaction twice, as happened here. They just pulled money back out.