News for hackers. Stuff that matters.

A comment on Ask HN: Why hasn't the ACH system been more abused?. Parent comment

Re:Ask HN: Why hasn't the ACH system been more abused? by kube-system on Monday August 29, 2022 @10:59PM (#32646177)
Only in the case of a mistake or fraud. So if the recipient got the right amount in their account: it’s a done deal, same day.

As opposed to ACH which could bounce or you could issue a stop payment.

[ Parent | on HN ]
Re:Ask HN: Why hasn't the ACH system been more abused? by snotrockets on Tuesday August 30, 2022 @12:43AM (#32646710)
The definition of mistake is quite broad. Not all parties may agree to what is and isn’t, requiring litigation, but the transfer itself isn’t a done deal until a very lengthy process has been exhausted.
[ Parent | on HN ]