A loan company asked for a void cheque for direct deposit , can they do more than put money in?
2007-08-25 03:18:32 · 4 answers · asked by Stephen M 2 in Business & Finance ➔ Personal Finance
not to worry you are safe -- and if they do chalk it up as cost of doing busines on line!!!
2007-08-27 14:42:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Some businesses use just a scanned copy your check to get a payment from you. Therefore a scammer might be able to use your check and a forged signature to with draw money by setting up a fake company and cashing a fake ellectronic check. However if that were to happen you should be able to get you money back with a little bit of effort.
2007-08-25 03:31:36 · answer #2 · answered by mattwbell 2 · 0⤊ 0⤋
Anyone with your account number can potentially try to defraud you. However, sending a voided check to set up automatic deposits (or withdrawals) is standard practice. Just make sure you're dealing with a reputable business.
2007-08-25 03:56:49 · answer #3 · answered by Tomel 3 · 0⤊ 0⤋
Theoretically yes, but if you are dealing with an honest company that won't be an issue. However if this is in response to a spam e-mail or offer from an unknown company on the Internet, don't do it!
2007-08-25 03:31:31 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋