Timeline for answer to Unauthorized Withdrawal After Sharing Bank Details: Questions on Risk and Prevention by abligh
Current License: CC BY-SA 4.0
Post Revisions
3 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| yesterday | comment | added | Brian | A slightly tweaked alternative sometimes used in the US is "reverse positive pay." Here, all outgoing transactions are blocked until they are manually reviewed by the accountholder. Larger companies (who cut more checks) normally use traditional "Positive Pay" instead. This is the same as reverse positive pay, but the outgoing transactions are pre-authorized, possibly via the same system that is cutting the checks. This mostly eliminates the review process. | |
| yesterday | comment | added | Zuriel | This sounds a good option! I wish I could open a bank account that only allows deposits, as well as withdrawals by me only. | |
| yesterday | history | answered | abligh | CC BY-SA 4.0 |