Checking debit

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@usa.net.

Best wishes,

-George

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


In <199701130446.UAA13794@ns2.accesscom.com>, on 01/11/97 at 12:46 AM,
   geo2@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@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!!!
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Author of E-Secure - PGP Front End for MR/2 Ice

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William H. Geiger III wrote:
> 
> I didn't think one could debit a bank account without signed
> documentation by the holder of the account giving permision to do
> so.

Your thinking is incorrect.

> Personaly I would never give somone such authorization to do so.

If you have a credit card, call up customer service, and ask if you
can do a check by phone. There are a dozen services that do it. A
verbal agreement is all that's necessary. I'm not even sure the calls
are recorded; I recall no telltale beeps, which are required in 
California and other states. Western Union may do such transfers for
a fee.

> 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.

I quite agree. Sad, but true.
 
> Could somone here with more banking background clarify this?

I don't have a banking background, but I've done exactly the above as a 
standard-issue idiot consumer. All they need is your account number, a 
unique check number, and the central bank routing information. And your 
SSN, which your credit card company has already (how convenient). Oh, 
and I'm sure they need a hell of a lot of liability insurance.

-rich

William H. Geiger III wrote:
> 
> >DEBIT YOUR CUSTOMERS' CHECKING ACCOUNTS ... 
> >Close sales at your Web site, close telephone sales immediately, ship
> >merchandise immediately(!) ...by drafting the customer's checking account.
> 
> 
> 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?

  From view of my own past experience, this seems to be much easier than
lugging all that acetylyne equipment into the bank in the middle of the
night.
  Sounds to me like the people using this scheme need to get ahold of
fuck@yourself.up and get a mailing list of the gullible folks who
ran the executable that he made available to the CypherPunks.
  Perhaps they could combine their projects. First you get the mark's
banking info, then you crash his hard drive to keep him busy while
you drain his account.

Toto