...many companies are not informing customers that they are using the ACH setup instead of your check. Two of which I have are DELL Financial Services, and Cingular Wireless. Both have done ACHs. And, I believe that the ruling or policy should be that said companies must be required to obtain written approval to do such transactions. If it is this easy to remove money from someone's account, what's stopping them or someone else from accessing your account and just taking money?
Now I guess the written check could be considered the written approval, however what if it's a forged check?
I think that I'm all for the concept after wading through a box of old bank statements that seemed to have accumulated dramatically since moving to the midwest in the late 1980's. After the shredding machine overheated, it forced me to shred the documents by hand. I was pooped. I began to realize that having the checks on hand wasn't worth the effort. Out of the thousands of checks that had accumulated, only a couple were needed to verify payments.Updated: 2003-03-26 10:24:38Updated: 2003-03-26 10:25:54
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