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You are correct on the technical side. On the legal side, there is clear support to protect fraudulent use of a written check. If you go to your local police

You are correct on the technical side. On the legal side, there is clear support to protect fraudulent use of a written check. If you go to your local police station and try to file a criminal report on someone abusing your Visa or PayPal account, your most likely going to get puzzled looks as to what to do. The laws are so strong that they have been co-opted in a seedy way to support the "payday check" industry. You write a post-dated check and if the money is not in the account by that date and the check bounces, the payday company uses your local sheriff's office to arrest you. This is a terrible abuse of public services but shows how strong the laws are.

patio11 17y ago
If you go to your local police station and try to file a criminal report on someone abusing your Visa or PayPal account, your most likely going to get puzzled looks as to what to do. I'm looking for a piece of information in your profile like "I live in rural Afghanistan" which would make this crazy story sound plausible, but not finding it. If you live in a first world country like, e.g., the US, your local police department is quite familiar with the notion of credit card fraud. They'll tell you a) fill out this police report and b) bring it to the attention of your bank to get the charges reversed and c) the odds of us catching the guy are slim, which (they will not tell you) is the same as almost all financial crimes, including most fraudulent uses of checks.
generalk 17y ago
There are similar laws for credit fraud, of course, so the stated benefit of "I don't have to give someone my details!" is confusing. In any kind of "pull" system where I have to give someone else credentials to access my account, there's going to be the potential for fraud. A "push" system, where you have the ability to deposit into an account but not withdraw from it, sounds much more secure.
- jhancock 17y ago
  I agree, the stated benefit of I don't have to give my details, is not just confusing but plain wrong. Checks leak as much if not more information. I was replying the parent post of why checks do have some value. The laws for check fraud are different than credit fraud and the like. In most cases (each U.S. state is different), check fraud laws are old and quite strict. These laws have statutory obligations to fulfill to enable criminal prosecution. These requirements in turn force law enforcement and banks to take action. This may not always happen, but there is a framework for pushing it to happen.
- HeyLaughingBoy 17y ago
  You can create one if you like but it's a bit inconvenient. Open a checking account and deposit enough cash into it to avoid fees. Now call up the bank and tell them you lost some of your checks and you need to close the account against withdrawals (you may need to do this in person). Now you or anyone else can deposit all the money you want to into that account, but the only way to get money out is if you go to the bank and show ID. It's not quite "hacking the bank" but it may be useful to know in a small set of cases.

patio11 17y ago

If you go to your local police station and try to file a criminal report on someone abusing your Visa or PayPal account, your most likely going to get puzzled looks as to what to do. I'm looking for a piece of information in your profile like "I live in rural Afghanistan" which would make this crazy story sound plausible, but not finding it. If you live in a first world country like, e.g., the US, your local police department is quite familiar with the notion of credit card fraud. They'll tell you a) fill out this police report and b) bring it to the attention of your bank to get the charges reversed and c) the odds of us catching the guy are slim, which (they will not tell you) is the same as almost all financial crimes, including most fraudulent uses of checks.

generalk 17y ago

There are similar laws for credit fraud, of course, so the stated benefit of "I don't have to give someone my details!" is confusing. In any kind of "pull" system where I have to give someone else credentials to access my account, there's going to be the potential for fraud. A "push" system, where you have the ability to deposit into an account but not withdraw from it, sounds much more secure.

jhancock 17y ago
I agree, the stated benefit of I don't have to give my details, is not just confusing but plain wrong. Checks leak as much if not more information. I was replying the parent post of why checks do have some value. The laws for check fraud are different than credit fraud and the like. In most cases (each U.S. state is different), check fraud laws are old and quite strict. These laws have statutory obligations to fulfill to enable criminal prosecution. These requirements in turn force law enforcement and banks to take action. This may not always happen, but there is a framework for pushing it to happen.
HeyLaughingBoy 17y ago
You can create one if you like but it's a bit inconvenient. Open a checking account and deposit enough cash into it to avoid fees. Now call up the bank and tell them you lost some of your checks and you need to close the account against withdrawals (you may need to do this in person). Now you or anyone else can deposit all the money you want to into that account, but the only way to get money out is if you go to the bank and show ID. It's not quite "hacking the bank" but it may be useful to know in a small set of cases.