Explain this to me.
I have someone who gets money wired to her from me on the last day of every month. I realized the bank charges me $12 for each wire so I decided to switch to an ACH transfer.
When I set it up it asked "credit or debit." Since I don't have a credit card tied to the account I selected debit. Unfortunately that was not what it means.
So the bank PULLS the funds out of her account.
How in the world is that allowed? What's to stop me from doing this to anyone else?
I have someone who gets money wired to her from me on the last day of every month. I realized the bank charges me $12 for each wire so I decided to switch to an ACH transfer.
When I set it up it asked "credit or debit." Since I don't have a credit card tied to the account I selected debit. Unfortunately that was not what it means.
So the bank PULLS the funds out of her account.
How in the world is that allowed? What's to stop me from doing this to anyone else?
Easy way to steal money
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