4 ms·
Cheques can by definition can never be obsolete as they are simply "a written order directing your bank to pay money [to someone]" and don't have to be on a ban
by basicplus2 7y ago
Cheques can by definition can never be obsolete as they are simply "a written order directing your bank to pay money [to someone]" and don't have to be on a bank issued and numbered format.
- mantap 7y agoMaybe so but your bank is not going to send money to someone unless they have proof that you are the one sending the order. I doubt you can just mail a letter to your bank and ask them to send money out of your account.
- freeone3000 7y agoHave you tried? I bet you they would. Mine does it with a phone call!
- vincnetas 7y agohow do they authenticate over phone. Just curious. Key generator? Something else?
- pdkl95 7y agoBanks don't necessarily need strong authentication, because that isn't what they are trying to guarantee. Banks have contracts that often guarantee something closer to "eventual consistency", where the ability to rollback or correct transactions is more important than guaranteeing any single transaction is correct at first. In the unlikely event of a problem, they can fix it. The bank judges how much risk they want to take and uses whatever level of authentication they feel is necessary, which might be as little as asking your name and/or account number(s), or calling your phone listed on your account.
- ben509 7y agoSome will have you answer your own security questions. That's how I learned, red faced, to make sure my answers are something I'm comfortable reading over the phone.
- Daniel_sk 7y agoMy bank has audio biometry (Tatrabanka, Slovakia), they verify your voice during your call automatically. The voice sample is recorded when you open your account. Only if it fails they may ask for additional proof. But I never call the bank since all can be done through the app or web.
- ben509 7y agoIn theory, if you give a bank an instruction, you are the principal and they are the agent, and that means they have to follow your instructions pertaining to your account. If it's a written instruction, they do need to authenticate it, but they could call you to do so. Or they might charge a big fee for it. Or they might drag their heels by claiming you have to perform the transaction online because of some policy they have that you don't care about. But they definitely can't ignore a letter you send them.
- Nursie 7y agoAnd if your bank no longer accepts written orders like that, preferring modern electronic security measures?
- ben509 7y agoIt'd be interesting to see them refuse to accept it if it came on a law firm's letterhead.