What's stopping someone from stealing money from my bank account electronically with my ACH numbers?

Question

I moved money from my regular checking account to a new one by typing in the ACH numbers from the bottom of my checks (and the amount to transfer). What's to stop someone else from taking my money that way? Every time I write a check, I give someone those magic ACH numbers.

I'm guessing there's a safety mechanism to prevent this theft, I just don't know what it is.

At the bank from which the money was withdrawn, I didn't tell them anything in advance to authorize the transaction, but they did it.

Answer 1

Absolutely nothing stops them... Here's what happened to me once.

I payed my husbands car payment once by check over the phone and I used a starter check #110 because I just opened an account. Well the very next month my account was negative and I was told his car company pulled money out for a second payment which I did not authorize. I dug deep to the bottom and the bank said there was nothing they could do because they had the numbers. I called the car company and it was a he said she said deal...my word verse theirs. I said you people state that ur phone calls are all recorded so get that tape and prove to me i authorized check #111 now. They said " mam...we really don't have recorded phone calls it just helps to say that so people will be more honest." HA right. anyways It wasn't until I said I was calling the police and reporting them for theft because thank god check #111 didn't even exist! The starter checks ended at 110. I had to prove to them that it was there withdrawl that actually caused the negative in my account and that I was not given a check 111 ever from that bank account. I had no money for an entire weekend which meant no diapers for my chilld... but I did get my money back. Only the money and the negative fee thats it! I'm sure this happens to other people too. The only reason I got lucky was because that check didn't exist. If it did then they would've gotten away with what they did because I could not prove I didn't authorize them to not the other way around. They had the right numbers...thats all they needed. Period.

Answer 2

I believe you have to authorize any removal of money from your account. Writing a check, using your debit card, or you going into your bank requesting they send an ACH (wire) payment would do this.

I work with wire payments and I don’t think we could just pull money out of a sender’s account. I can’t exactly call up the bank and say here’s an account number, could you pull $20,000 out of it for me?

Answer 3

well, its really called good will....but there are alot of privacy factors now a days. When you check out...let say online...you get a confirmation #...then they send you a confirmation email...you can set it up with your bank to have them call you, if they feel that YOU are not using your card...especially on big purchases. My CC company called me one day, I was in Las Vegas.and I made a purchase..they didnt know I was there...they said that my card had been swiped in Nevada and wanted to make sure it was legit...this was minutes after I finalized my transaction

Answer 4

Typically, they need either a signature or a recorded authorization. If in fact, someone DID access your account without your knowledge, you should be able to recuperate those funds with a simple phone call.