Comments on: Internet Banking Check-Issuing Services Not Safe!

By: Dante

Dante — Sun, 31 Aug 2008 19:22:55 +0000

once you give your check to anyone, they have your account # and routing #, which is all they need to do a Ton of things, they can ach withdraw out of your account all day long, as long as they have your name and address. on top of that, your not going to be able to avoid the electronic duplication process of the signature (because thats what we are really talking about here), its been going on for some time with check 21. if you really want protection, you may want to set it up directly with the bank, you can set filters for what they will/cant accept, banks are normally willing to work with you on that

check 21 system

By: CMD

CMD — Thu, 01 Feb 2007 01:00:22 +0000

It’s completely safe. The big corporate propagandists would have you think otherwise since online check payments is an affordable alternative to HIGH PRICED credit card payment gateway. Paypal, Mastercard, Visa, and the thousands of banks that are contracted with them make BILLIONS of dollars on credit and debit card transaction fees.

The fees related to pay-by-check are zero for most transactions.

If someone is daring enough to illegally cash your check without your authorization they will most certainly leave a paper trail because they must FIRST own a checking account in order to deposit your check.

The propaganda lies that big corporations and their puppets put out about online pay-by-check is jut that - LIES. It’s a part of their global world conspiracy to dominate the world.

By: SeenItAll

SeenItAll — Fri, 07 Oct 2005 21:02:38 +0000

This is yet another example of the consumer being sacrificed on the altar of corporate profits. The security provided by requiring paper checks with verifiable (but rarely verified!) signatures was not great, but security has now gone to zero as Big Business cuts their costs by increasing ours.

By: John Anderson

John Anderson — Thu, 06 Oct 2005 00:02:55 +0000

The only way is actually tto arrange with your bank that no ouutgoing electronic transfer payments are to be made from your checking or savings account, except via your debit card. But good luck with that.

Why do I say “good luck”? Well, when I opened my checking account, I was offered “overdraft protection”. I told the manager I did not want it, I’d rather pay the ten bucks for bouncing a check and deal with whoever I had written the check to.

Then I wrote a check for $0.09 more than was in my account. Oh-oh.

The bank, instead of bouncing it (and charging me the $10), paid it. With a $25 charge for overdraft. And, since I did not know about it until the next statement went out (no, they did not send me snail-mail, let alone EMail), also charged $5/day (after the first 5 days, apparently covered by the first $25).

Total I had to pay? $40. And yes, I complained. And was told they do it as a “service” - and no, there was no way to opt out. I asked if they’d cover a check for $2 million - of course not (there went my plan to live in Bazil). So how much would they cover, exactly? Policy does not specify - seems to be up to whatever person is on duty.

Do other banks do the same thing? Yep. Ask the manager at YOUR bank.

By: Charlie Sauer

Charlie Sauer — Mon, 03 Oct 2005 10:04:48 +0000

Auntie, Qchex is the tip of the iceberg. I’m glad to see you pointing out an aspect of what has seemed to me a glaring problem. Basically, anyone who knows your routing number and account number can exploit your checking account without constraint. So far as I can tell, the only safeguard is to monitor your checking account DAILY. So far, I’ve not been victimized, but as far as I can see that is fortuitous, not anything associated with technology/reasonable procedures. Charlie