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I don't think any responsible bank would let you withdraw using just an account number. What kind of security would that be? My bank certainly doesn't - allowin

I don't think any responsible bank would let you withdraw using just an account number. What kind of security would that be? My bank certainly doesn't - allowing a debit requires me to authorise via 2FA - they obviously can't just take money.

gruez 5y ago
>I don't think any responsible bank would let you withdraw using just an account number What do you think a check is? It's a piece of paper with your account number, who to pay, and how much. There's a signature field, but it's not checked too closely (I don't think my bank even asked for a signature sample when opening my account) and signatures are trivial to forge.
- chrisseaton 5y ago
  > What do you think a check is? My bank doesn't give me a cheque book any more - haven't see a person use a cheque in about a decade. I can't believe they'd let someone cash a random cheque with no authorisation.
  - kylebyproxy 5y ago
    Just guessing by "cheque", are you outside the US? The checking system & ACH might be more of a US-centric phenomenon. It's been busted forever, but it's just how we do things around here.
    - CRConrad 5y ago
      > It's been busted forever, but it's just how we do things around here. Which is why the rest of the developed world wonders: So why don't you stop that and catch up to, say, the 1990s?
  - easton 5y ago
    I do that when people send me money for birthdays once a year. Stick the check in the atm, i get money and the person wasn’t asked.
    - greenyoda 5y ago
      My bank allows me to deposit a check just by photographing it with their smartphone app. No more visits to ATMs needed.
kylecordes 5y ago
This is every bank in the United States. Our payment infrastructure ... has some legacy features.
TuringNYC 5y ago
>> I don't think any responsible bank would let you withdraw using just an account number. That is literally how checking works in the united states. You can withdraw money from a bank account if you have a routing number and bank account number and "permission." The permission could be a signed check, it could be an auto-pay ACH you set up by handing a paper form to someone, it could be a web-form you signed without looking over the fine-print. Most extractive companies (e.g., gyms, verizon) have so many fine print and so many lawyers that they can literally take anything from you without recourse. You'd spend tens of thousands in lawyer fees without getting the money back. You could go to the attorney general's office for your state. Good luck with that, unless its a common issue, you just have to eat the cost as part of being American. Or it could be nothing. In this case, its still on you to figure it out and get the money back in time.
- KennyBlanken 5y ago
  My state prohibits gyms from requiring ACH exactly to prevent this sort of abuse. It doesn't stop them from trying, or structuring their fees. The gym industry is very predatory and it needs far more regulation. It should be noted that in the US, some banks will allow you to request a default ACH block/lock on your account, and I highly encourage you to ask for such.
- jokethrowaway 5y ago
  That's not only a States thing. Direct debit works similarly in Europe. That said I haven't heard of companies or fraudsters abusing it
  - Symbiote 5y ago
    Direct Debit in Europe has strong guarantees in favour of the customer, e.g. reversing charges. "A no-questions-asked, fast and simple Refund procedure available within eight weeks of the debit date." Within 8 weeks of the charge, you just phone (or otherwise) your bank and ask them to undo the charge.
  - CRConrad 5y ago
    > That's not only a States thing. Direct debit works similarly in Europe. Maybe it still works that way in some parts of Europe, but in others it has been changed to work differently, or doesn't exist anymore and has been replaced by other systems, depending on how you want to put it.
sumedh 5y ago
> I don't think any responsible bank would let you withdraw using just an account number. It happens in Australia as, just fill up a direct debit form which has the client's name, account number and sign.
- worthless-trash 5y ago
  Are you talking about the paper forms you find at banks, because they dont work that way.
  - sumedh 5y ago
    I got the form from the rental agency which directly debits from my bank account for the rent.

gruez 5y ago

>I don't think any responsible bank would let you withdraw using just an account number What do you think a check is? It's a piece of paper with your account number, who to pay, and how much. There's a signature field, but it's not checked too closely (I don't think my bank even asked for a signature sample when opening my account) and signatures are trivial to forge.

chrisseaton 5y ago
> What do you think a check is? My bank doesn't give me a cheque book any more - haven't see a person use a cheque in about a decade. I can't believe they'd let someone cash a random cheque with no authorisation.
- kylebyproxy 5y ago
  Just guessing by "cheque", are you outside the US? The checking system & ACH might be more of a US-centric phenomenon. It's been busted forever, but it's just how we do things around here.
  - CRConrad 5y ago
    > It's been busted forever, but it's just how we do things around here. Which is why the rest of the developed world wonders: So why don't you stop that and catch up to, say, the 1990s?
- easton 5y ago
  I do that when people send me money for birthdays once a year. Stick the check in the atm, i get money and the person wasn’t asked.
  - greenyoda 5y ago
    My bank allows me to deposit a check just by photographing it with their smartphone app. No more visits to ATMs needed.

kylecordes 5y ago

This is every bank in the United States. Our payment infrastructure ... has some legacy features.

TuringNYC 5y ago

>> I don't think any responsible bank would let you withdraw using just an account number. That is literally how checking works in the united states. You can withdraw money from a bank account if you have a routing number and bank account number and "permission." The permission could be a signed check, it could be an auto-pay ACH you set up by handing a paper form to someone, it could be a web-form you signed without looking over the fine-print. Most extractive companies (e.g., gyms, verizon) have so many fine print and so many lawyers that they can literally take anything from you without recourse. You'd spend tens of thousands in lawyer fees without getting the money back. You could go to the attorney general's office for your state. Good luck with that, unless its a common issue, you just have to eat the cost as part of being American. Or it could be nothing. In this case, its still on you to figure it out and get the money back in time.

KennyBlanken 5y ago
My state prohibits gyms from requiring ACH exactly to prevent this sort of abuse. It doesn't stop them from trying, or structuring their fees. The gym industry is very predatory and it needs far more regulation. It should be noted that in the US, some banks will allow you to request a default ACH block/lock on your account, and I highly encourage you to ask for such.
jokethrowaway 5y ago
That's not only a States thing. Direct debit works similarly in Europe. That said I haven't heard of companies or fraudsters abusing it
- Symbiote 5y ago
  Direct Debit in Europe has strong guarantees in favour of the customer, e.g. reversing charges. "A no-questions-asked, fast and simple Refund procedure available within eight weeks of the debit date." Within 8 weeks of the charge, you just phone (or otherwise) your bank and ask them to undo the charge.
- CRConrad 5y ago
  > That's not only a States thing. Direct debit works similarly in Europe. Maybe it still works that way in some parts of Europe, but in others it has been changed to work differently, or doesn't exist anymore and has been replaced by other systems, depending on how you want to put it.

sumedh 5y ago

> I don't think any responsible bank would let you withdraw using just an account number. It happens in Australia as, just fill up a direct debit form which has the client's name, account number and sign.

worthless-trash 5y ago
Are you talking about the paper forms you find at banks, because they dont work that way.
- sumedh 5y ago
  I got the form from the rental agency which directly debits from my bank account for the rent.