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Your bank allows you to move money with just a password? Change to some bank where you get a way of logging in that requires some sort of certs. Ours used to ha
by Moru 7y ago
Your bank allows you to move money with just a password? Change to some bank where you get a way of logging in that requires some sort of certs. Ours used to have a small box you had to enter a key that the website provided to you, plus your pincode. Now there is an app that displays where you are logging in and you have to enter your pin to sign. When you transfer money it needs another signature and you can see all the transactions on the same screen before you hit enter.
- hannasanarion 7y agoActually all you need to move money is an account and routing number. In US banks, that's all you need for an ACH pull. No password, no pin, no nothing. Learned that the hard way when a friend accidentally stole $5000 from me because he thought my account number was his.
- tialaramex 7y agoBut presumably you can just unwind that? In the UK the "Direct Debit guarantee" paperwork that's included with every form where you give people your account details explains that the bank promises to unwind any transactions that you decide you didn't want. Direct Debit also only works if you're an accredited recipient, because obviously under guarantee the bank is going to want to claw back that money it just refunded and so they need to know the recipient can afford that almost always. The huge global utility company won't go bankrupt if I unwind a monthly utility bill payment, but the fly-by-night vape shop might. Presumably ACH pull is the same?