4 ms·

Those numbers at the bottom of a cheque? Yeah, they include your account number. There's no inherent information risk to giving out an account number that just

Those numbers at the bottom of a cheque? Yeah, they include your account number. There's no inherent information risk to giving out an account number that justifies an outdated paper-based system. Especially when one considers the accompanying fraud risk thereof. The instant I moved to Europe, I realized just how far behind consumer banking is in the US. It's pitiful.

astrange 4y ago
No, when someone sends you a check it has their account number on it, not yours…
catiopatio 4y ago
> Those numbers at the bottom of a cheque? Yeah, they include your account number. Yes, as well as the routing number. > There's no inherent information risk to giving out an account number … Of _course_ there is. In the US, the account + routing number is sufficient to perform a ACH transfer, write checks against that account, etc. The risk is enormous. > Especially when one considers the accompanying fraud risk thereof. I’m assuming you misunderstood the risk when you wrote the above. It is, in fact, extremely high.
- LadyCailin 4y ago
  >> Those numbers at the bottom of a cheque? Yeah, they include your account number. > Yes, as well as the routing number. >> There's no inherent information risk to giving out an account number … >Of _course_ there is. In the US, the account + routing number is sufficient to perform a ACH transfer, write checks against that account, etc. The risk is enormous. So… how does writing a check remove this risk then? That was the original point, that writing a check is safer than giving out your account number.
- tome 4y ago
  > It is, in fact, extremely high. Not in Europe it's not, which is monodeldiablo's point: there's no inherent risk to giving out your account number. It's only the primitive US system which makes it a risk.

4 ms·

Those numbers at the bottom of a cheque? Yeah, they include your account number. There's no inherent information risk to giving out an account number that just

by monodeldiablo 4y ago

astrange 4y ago
No, when someone sends you a check it has their account number on it, not yours…
catiopatio 4y ago
> Those numbers at the bottom of a cheque? Yeah, they include your account number. Yes, as well as the routing number. > There's no inherent information risk to giving out an account number … Of _course_ there is. In the US, the account + routing number is sufficient to perform a ACH transfer, write checks against that account, etc. The risk is enormous. > Especially when one considers the accompanying fraud risk thereof. I’m assuming you misunderstood the risk when you wrote the above. It is, in fact, extremely high.
- LadyCailin 4y ago
  >> Those numbers at the bottom of a cheque? Yeah, they include your account number. > Yes, as well as the routing number. >> There's no inherent information risk to giving out an account number … >Of _course_ there is. In the US, the account + routing number is sufficient to perform a ACH transfer, write checks against that account, etc. The risk is enormous. So… how does writing a check remove this risk then? That was the original point, that writing a check is safer than giving out your account number.
- tome 4y ago
  > It is, in fact, extremely high. Not in Europe it's not, which is monodeldiablo's point: there's no inherent risk to giving out your account number. It's only the primitive US system which makes it a risk.