What Happens When You ACH a Dead Person?

Re:What Happens When You ACH a Dead Person? by tempsy on Wednesday August 28, 2019 @03:45PM (#20823358)

Double edged sword IMO. If you use Zelle and off a digit in a phone number or email you are out of luck. No way to recover funds once sent.

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Re:What Happens When You ACH a Dead Person? by nickjj on Wednesday August 28, 2019 @04:06PM (#20823523)

If you send it to an email address that doesn't exist, does the transfer go through? If so who ends up with the money?

It's been a while since I sent funds to a new address but I am pretty sure my bank's UI provided protection against that, and now when I send future funds to the same account, I just pick them from a drop down box instead of entering it manually.

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Re:What Happens When You ACH a Dead Person? by tempsy on Wednesday August 28, 2019 @04:54PM (#20823876)

No - it’s more dangerous with a phone number, which is how I usually send/receive.

Much, much safer way to use Zelle is to ask the receiver to request a payment from you and then accept the request.

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Re:What Happens When You ACH a Dead Person? by nickjj on Wednesday August 28, 2019 @05:27PM (#20824153)

That's a good idea in both cases.

Although I'm guilty of just sending funds direct but only through email addresses which I usually copy / paste straight from what someone wrote to me.

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Re:What Happens When You ACH a Dead Person? by vinay427 on Wednesday August 28, 2019 @04:35PM (#20823727)

It cancels after a few weeks (IIRC) of remaining unclaimed.

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