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Ask HN: Are there any banks which offer ACH debit blocks or filters on consumer?
- bradknowles 5y agoWhat exactly are you attempting to achieve? If you want to control who can withdraw what amounts on what schedule, then note that privacy.com lets you create virtual credit cards, and each card can either be set up to be a one-time use card, or locked to the first merchant who charges to it. You can also set various limits on each card, like total limits, per transaction limits, daily limits, monthly limits, or annual limits. With these cards, you can look at approved transactions, denied transactions, cards that have no transactions at all, etc…. And you can temporarily pause cards or shut them off completely, configure notifications of when certain transactions on certain cards happen, and so on. They’ve also got decent reporting of all this data. So, tell us exactly what you’re trying to do (and why), and maybe we can help you.
- LinuxBender 5y agoIt sounds like what they are looking for is a bank that lets you filter/pre-approve who can do a wire/ACH transfer. AFAIK no banks do this today. Anyone can do an ACH transfer and you have to realize this happened, contact the bank and have them reverse the transaction. ACH/wire transfers do not have the same transfer limits/caps of credit card transfers. This is not the same as a credit card transaction. Many banks do offer some limits on credit card transactions and some fraud protection via 3rd parties and some also do virtual cards like you are describing with privacy.com. Citi has done this for a while, albeit a very antiquated bank to deal with.