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Well, this is different in the sense that I have to initiate a payment (or schedule a payment if the amount is fixed). The other side cannot just access my acco
by muststopmyths 6y ago
Well, this is different in the sense that I have to initiate a payment (or schedule a payment if the amount is fixed). The other side cannot just access my account to withdraw money.
- sukilot 6y agoThey actually can. That's all a check is -- giving them the info they need (account number) to just access my account to withdraw money. The only difference is legal in case of later dispute: the check is evidence of how much you authorized them to take, and vendor autopay usually has fine print saying you agree to whatever. But in case of unauthorized theft, there is no difference. That's why Don Knuth stopped sending checks.
- deleted 6y ago[deleted]
- the_pwner224 6y agoThe check has the account and routing numbers printed on it (near the bottom usually?). These uniquely identify your account, and via ACH they allow you to deposit or withdraw money electronically without the account owner's prior approval.