TELECOM Digest OnLine - Sorted: Re: Last Laugh! Purely Spam! MY PRESENTATION TO YOU

Re: Last Laugh! Purely Spam! MY PRESENTATION TO YOU

Tim@Backhome.org
Tue, 16 Nov 2004 05:40:47 -0800

Dan Lanciani wrote:

> I wonder who actually ends up paying in cases like these? Are there
> any posted accounts that tell whether the bank absorbed the loss? Or
> whether they were able to pull the money back? These might provide
> some ammunition to argue with banks that universally refuse to block
> ACH debits on consumer accounts (as that would be inconvenient for
> businesses) and claim that they can clean up any fradulent withdrawals
> after the fact.

The banks love to act like innocent conduits when it comes to any issue
about ACH debits. Nonetheless, with any given transaction, if the account
holder affirms on a timely basis that it's either fraud or simply not
authorized, the bank has no choice but to charge it back.

Banks hate the concept of consumers knowing that.

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