3 ms·
ACH also never took off in the US because A) You have to initiate a transfer at your bank, there's no way to use ACH independently as a consumer without a comm
by devmor 4y ago
ACH also never took off in the US because
A) You have to initiate a transfer at your bank, there's no way to use ACH independently as a consumer without a commerce setup or relying on a 3rd party (like Zelle).
B) There's no confirmation step. If someone has your Account Number and Routing Number and does have a commerce setup, they can debit your account at any time.
- chimeracoder 4y ago> You have to initiate a transfer at your bank, there's no way to use ACH independently as a consumer That's actually not true - it appears that way because in practice ACH is only used in corner cases in the US, but it is absolutely possible. > There's no confirmation step. If someone has your Account Number and Routing Number and does have a commerce setup, they can debit your account at any time. ...I have bad news for you about what the SEPA standards require!