Brace Yourself For This One.
Business By CristyInMiami Updated 12 Oct 2008 , 10:00am by sarahnichole975
I use email money transfers all the time...all the other party needs to know is what bank you bank with, your name and then you have to answer a questions about the person transfering the money (one they make up that only you would know the answer). Quick and easy and they don't have to know much info about you at all!
So true about a withdrawal but you would be surprised as to how many banks are completely automated and hardly ever even heck to see if the front of the check is signed by the writer or not!!!
So the signature card, which in most cases is kept off site in some corporate office far far away, is hardly if ever seen again once you actually sign it. So ID theft is very easy to commit if a person knows anything about a bank and how they process a transaction.
As far as endorsing a check and putting your account number on the back. I refuse to do this. The reason is just as you stated the account info is then there for the taking. And those who use a bank required or reccomended endorsement stamp (most businesses use these) it also has your banks routing number. With these two pieces of info soooooo much can be done to your account. Protect yourself and let the bank deal without your info on the back. They can still do what they need to do or they are not a very competant financial institution. Just my opinion but lets face it ID theft is getting out of hand and we have to protect ourselves.
I hate to tell you this, but when I worked at a bank and the customer didn't write their account number on the back, we were instructed to do so because that way we have recourse. You would not believe how many checks go through at times without the acct number written and it doesn't make it into the acct (check got separated from deposit slip)...how do we know what acct it goes in??
I hate to tell you this, but when I worked at a bank and the customer didn't write their account number on the back, we were instructed to do so because that way we have recourse. You would not believe how many checks go through at times without the acct number written and it doesn't make it into the acct (check got separated from deposit slip)...how do we know what acct it goes in??
This is exactly right. When deposits are processed and proofed each night the account #'s are verified (at least at the bank I worked at). There were a lot of checks not deposited due to lack of account #. Signatures are also verified, yes they are kept off site there is a department that does nothing but compare signatures when checks come through to clear.
I hate to tell you this, but when I worked at a bank and the customer didn't write their account number on the back, we were instructed to do so because that way we have recourse. You would not believe how many checks go through at times without the acct number written and it doesn't make it into the acct (check got separated from deposit slip)...how do we know what acct it goes in??
That is true if you are cashing them they always want your account number on the back. The bank can get recourse on a check as long as they have an account holder to hold accountable for the check. After managing a bank for 15 years there is a way to find recourse on just about any situation if the bank has thier ducks in a row and tellers are trained well and follow policy. 
I hate to tell you this, but when I worked at a bank and the customer didn't write their account number on the back, we were instructed to do so because that way we have recourse. You would not believe how many checks go through at times without the acct number written and it doesn't make it into the acct (check got separated from deposit slip)...how do we know what acct it goes in??
This is exactly right. When deposits are processed and proofed each night the account #'s are verified (at least at the bank I worked at). There were a lot of checks not deposited due to lack of account #. Signatures are also verified, yes they are kept off site there is a department that does nothing but compare signatures when checks come through to clear.
\\ In large nationwide corporate banks the checks fly through a processing machine and the human hand never touches them from the time they hit the machine until the time they go into a shredder after being scan to have on file. I worked for two such corporate banks and the processing line is only babysat by the attendants.
I havent been out in over a year to pay bills, everything is done via direct deposit over the net and I stopped using PAYPAL after problems with them!
NO offence but why does it seem that identity theft is so easy in the US?
I must admit that I have had my identity theft stolen years ago, however I had my purse stolen and at the time it had all my id in it including birth certificate!
Cheryl
If it is possible to take money out of an account just by knowing the account #, then you really need to demand better security at your banks.
It sounds very strange and I couldn't really imagine it happening here. I give out my account # all the time when I sell stuff.
Oh yes! Many of my transactions are thru the banks too cos a lot of times after the initial consultation about the cake my client might not have the time to come back to me physically with the money so I just get them to pay into my account and you really cannot do anything with my account than to pay in money cos every account on the bank's computers carries the pictures of each customer and a lot of other security measures that there really is no fear of anything happening.I've been running it for years now without problems!
Oh yes! Many of my transactions are thru the banks too cos a lot of times after the initial consultation about the cake my client might not have the time to come back to me physically with the money so I just get them to pay into my account and you really cannot do anything with my account than to pay in money cos every account on the bank's computers carries the pictures of each customer and a lot of other security measures that there really is no fear of anything happening.I've been running it for years now without problems!
I've already posted in this thread, but seeing as it's been bumped up... 
I used an electronic transfer this week. I had a last minute order from a customer in London who wanted a cake delivered to her daughter in Edinburgh. There wasn't enough time to post me a cheque so I gave her my business bank details and she transferred the money. She sent me a screen shot of her receipt so that I knew it had gone through. She didn't want to use PayPal so this was a perfectly acceptable method for me.
Well here in nz with the likes of trademe(auction website) you can do all the deposits online... infact most of my cakes are done exactly that way in most cases i never meet the customer bride, bday or other and they deposit the funds direct into my account.. they cant see or make withdrawls with the info given... so i see nothing wrong with the ladys request sorry
The more I read about the USA, the stranger a place it seems to me (no offense intended!). There are no such things as cheques in The Netherlands. We pay each other and bills either in cash or by giving our account details so the money can be transferred directly. So it's not strange to me at all!
There are cheques in Au but they aren't used much. Probably more in the business world but personal cheques are rarer. Most places have signs that say 'If offended easily then please don't ask for credit/pay by cheque/ask for change' To many people were paying by cheque and then the cheque bounces and you get a $30 fee from the bank plus the original charge etc. Direct Deposit is one of the safest ways and as the earlier au ladies said, very common.
I have done this plenty of times, however I am always on the phone, and I am the one that calls the bank. She gives her information and I provide my access number or checking account number. I live only 15 mins away and I have done this plenty of time, t and vice verse
When is the order for? Mailing a check would be just as easy I'd think. If she's only 1/2 an hour away, then you should get it the next day. She could even have it mailed directly from her bank. Some of the bills I pay online aren't set up for transfers, so when I pay them, my bank issues them a check and sends it to them. And the funds are withdrawn from the account when the check is cut, so no bouncing!
I can understand your hesitation, though I don't really think anything would happen. She doesn't have your ID or a match to your signature. Also, I'm pretty sure even though the signature card you sign goes into some corporate office, it's scanned into a computer and they can pull it up at a branch. Now when someone asks for your SSN....run like hell!
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