Checking debit

William H. Geiger III whgiii at amaranth.com
Mon Jan 13 15:15:02 PST 1997


-----BEGIN PGP SIGNED MESSAGE-----


In <199701130446.UAA13794 at ns2.accesscom.com>, on 01/11/97 at 12:46 AM,
   geo2 at usa.net said:


>DEBIT YOUR CUSTOMERS' CHECKING ACCOUNTS ... COLLECT CHECK PAYMENTS FROM YOUR WEB PAGE,
>OVER THE PHONE, OR AS AN AUTOMATIC MONTHLY DEBIT!

>Close sales at your Web site, close telephone sales immediately, ship
>merchandise immediately(!) ...by drafting the customer's checking account.  

>No more waiting in vain for "checks in the mail."  This service increases
>your cash flow, and reduces the cost of billing, mailing, bookkeeping, and
>collections associated with your customers who pay by check...for far less
>than the cost of accepting credit cards! 

>For more information about this new service, please click "reply" to respond to me at
>geo2 at usa.net.

Be afraid, be very afraid.

I didn't think one could debit a bank account without signed documentation
by the holder of the account giving permision to do so. Personaly I would
never give somone such authorization to do so.

If they are capable of getting access to funds in an account just by a phone
conversation this is truly a sad state of affairs for the banking community.

Could somone here with more banking background clarify this?

Thanks,
- --
- -----------------------------------------------------------
William H. Geiger III  http://www.amaranth.com/~whgiii
Geiger Consulting    WebExplorer & Java Enhanced!!!
Cooking With Warp 4.0

Author of E-Secure - PGP Front End for MR/2 Ice

Look for MR/2 Tips & Rexx Scripts
Get Work Place Shell for Windows!!
PGP & MR/2 the only way for secure e-mail.
                          
Finger whgiii at amaranth.com for PGP Key and other info
- -----------------------------------------------------------
 
Tag-O-Matic: MASOCHIST: Windows SDK programmer with a smile!

-----BEGIN PGP SIGNATURE-----
Version: 2.6.2

iQCVAwUBMtrB/Y9Co1n+aLhhAQFJcAP+JeSnUrXGBabuPQdTrueKmur0dGjphf4w
0TpMK5DOKhy5avJPymgjgVbasCU0VuiBS9nQuUURa8lF5XOtkuV+HC5Y4aCPJVq+
cx1Or6LwBgECMfuoVvIykZfd8IVy8Ro148bfRFBEMYgI5sSF5R6kZ2RDLkX1wPLU
KLmWMcEorFU=
=xS35
-----END PGP SIGNATURE-----







More information about the cypherpunks-legacy mailing list