4 ms·
> In the US your public bank account number is effectively a password to debit your account! There’s literally no authorisation at all! Don't you also need the
by vageli 4y ago
> In the US your public bank account number is effectively a password to debit your account! There’s literally no authorisation at all!
Don't you also need the routing number? How does this differ in other countries or anywhere that checks are used?
- chrisseaton 4y agoYes the public account number and routing number. Which are printed on my card, statements, might be read out loud, etc. My bank in the UK would not let you debit my account with just the numbers. I’d need to authorise it. How do you stop people debiting your account with whatever they want?
- xur17 4y ago> How do you stop people debiting your account with whatever they want? Short answer: you don't. Long answer: robust "fraud" controls. It's a shit-show.
- astrange 4y agoPart fraud controls (which don't necessarily work), part being able to undo transactions. Being able to undo mistakes means far more than anything else; it means it's permanently superior to all ""web3"" tech no matter how much fancier they may make that look.
- the_svd_doctor 4y agoThe routing number of each bank is public :-)
- vageli 4y agoYes but banks can have several routing numbers.
- bzxcvbn 4y agoA check needs a signature and has some security feature built-in. You might argue that it's not sufficient, but it's the same deal as paper money for example. The cost/benefit ratio is too low for counterfeiting checks to be useful, most of the time.
- deleted 4y ago[deleted]
- deleted 4y ago[deleted]
- pbreit 4y agoThe routing and account numbers are printed on every paper check in the US. Those are all that you need to process an ACH. The onus is on the ACH originator to make sure the numbers are not stolen.