Re:Standard Treasury (YC S13) Aims To Make Software That Eat...
by vshastry on Tuesday July 09, 2013 @01:36PM
(#6013936)
> b) allows you to debit a bank account w/o any verification or micro-deposits
That's an extraordinarily bad idea. If you gave a fraudster access to something like that, they could just pull money out of accounts where they had the routing and account #. You'd also be at risk if the customer fat fingered entry of those numbers and you debited the wrong account.
The US ACH rails lack a lot of necessary features to enable debits without verification of ownership of the account. Unless you want to be on the hook for the above scenarios of course.
That's an extraordinarily bad idea. If you gave a fraudster access to something like that, they could just pull money out of accounts where they had the routing and account #. You'd also be at risk if the customer fat fingered entry of those numbers and you debited the wrong account.
The US ACH rails lack a lot of necessary features to enable debits without verification of ownership of the account. Unless you want to be on the hook for the above scenarios of course.