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> 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
by 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.