Mpb my banking info (Page 5): Actually, what I find hard to believe is that the management company in Atlanta has “hundreds of tenants” that pay with monthly drafts for $700/month rent...

TriX Loc: Raleigh, NC

MDI Mainer wrote:

Whenever I have done this with SunTrust now Truist... (show quote)

Actually, what I find hard to believe is that the management company in Atlanta has “hundreds of tenants” that pay with monthly drafts for $700/month rent in Atlanta, GA.

Frankly, I was amazed this could happen and rather than tracking down the miscreant, the only recourse from the banking system was to close the account because this “could happen again” (the bank manager’s words). I was completely surprised that the system could be subverted this easily without recourse. My guess is that it’s easier for the bank to eat the loss rather than to pursue the issue and have the perpetrator arrested and prosecuted.

picturemom

I have sold a camera and 2 lenses. Two different transactions and gave them my checking account and had no issues,. They told me they could send me a check, but it would take longer. So I was nervous at first but after others on UHH said they had no problem with giving them their bank account, so I did the same. No issues, money went into my bank.

IDguy Loc: Idaho

kpmac wrote:

Never give out your banking info. Never.

Silly comment. You give it out every time you give someone a check. Check the bottom line on the check. That is all they want.

rook2c4 Loc: Philadelphia, PA USA

kpmac wrote:

Never give out your banking info. Never.

Every time you make a payment with a personal check, the recipient gets your banking info (bank name, account and routing numbers), as this is printed right on the check. And when you pay by credit card, the payee is supplied with your credit card number and cvv code. Nowadays, paying by cash just isn't always possible.

trapper1 Loc: Southside Virginia

I do a lot of buying and selling on the internet and was concerned about potential problems in providing my banking information. I simply opened a second checking account at a different bank and run all internet transactions through that account so my main banking account cannot be compromised. I deposit in the second account only enough to cover what I am buying and immediately withdraw any money deposited in that account as proceeds from the sale. I only keep a minimum amount in that account to keep the bank happy.

MDI Mainer

TriX wrote:

Actually, what I find hard to believe is that the ... (show quote)

At least you seem to have been made whole for your out-of-pocket losses, although the angst and trouble were likely uncompensated.

anotherview Loc: California

Thanks for advice.

stanikon wrote:

You should be able to use PayPal, if you have a verified account there, or even if you don't. That way you don't have to give them your bank information. All they need is your email address.

And you are right...in this day and age you can't be too careful. If they won't go the PayPal route then I would look elsewhere. Legitimate outfits will use PayPal all day long.

TriX Loc: Raleigh, NC

MDI Mainer wrote:

At least you seem to have been made whole for your out-of-pocket losses, although the angst and trouble were likely uncompensated.

I was, by my bank after signing several affidavits. - no idea if they recovered it from the perpetrator. It was a royal PIA though. I had to change a dozen accounts - everything from Paypal to SSN and utilities and then had to check each day for previously written checks or debits on the old, now closed account that might bounce. Actually I almost never write a check now. I use electronic transfers and drafts to pay tall my bills, use a 2% back (free) CC for all purchases, transfer funds between accounts electronically and receive rent from my tenants, pay from my employer and SSN payments electronically, and I pay my any service workers in cash.

ggttc Loc: TN

TriX wrote:

I have just provided an actual example above when an unauthorized ACH transfer/withdrawal took place (by a complete stranger) using my account and routing number and repeated verbatim what my bank manager said about the possibility of it happening again. That does NOT prevent me from providing that information to a Payee (such as MPB), but I am now much more careful who I write checks to.

When I withdraw money from MY acct and transfer it via telephone or computer I have to verify the transaction with a text sent to my phone which I have to manually enter.

smussler Loc: Land O Lakes, FL - Formerly Miller Place, NY

cmc4214 wrote:

Acct no. and routing no. are on every paper check you write (assuming you still write checks)

smussler Loc: Land O Lakes, FL - Formerly Miller Place, NY

chikid68 wrote:

With the account number and the routing number all they or anyone else can do is to deposit money in.

Nonsense. I've signed up for autopay with all my utilities. Each of them withdraws from my checking every month with no intervention from me.
They use Routing Number, My Account Number and Name on my account, and type of account.

no12mo

ClarkJohnson wrote:

That’s right. This is not secret information. What you are doing is letting them deposit money, not take it out. All sorts of organizations use direct deposit, from the IRS and Social Security to eBay and PayPal.

My bank allows me to create a whole account on the fly. If you are talking a lot of $$ you don't want to lose. Perhaps your bank can help you set up an account for this outfit to do the transfer. After you get your $$ transfer it to your regular account and then close out the account you set up for this transfer.

If they can use PayPal and you have an account - that would be the ultimate, safe way to get your $$

Elliern Loc: Myrtle Beach, SC

tkgraves wrote:

Hi folks, I just sold some equipment to mpb and they are ready to pay me for it but here’s my issue, they only want to pay me by transferring the funds to my banking account, they want my banking account number and routing number, I have bought things from them years ago, and it seems a lot of you folks like them and give them really good ratings, but do you feel it’s ok to just give out that info with the way things Are nowadays, thanks for your input, topkat.

I just had the same issue with them and called and spoke with a rep. He said
They only need the public number that is on your checks. It only allows for deposit, does not allow withdrawal.
He said every time you pay with a check you are putting the exact same information out there.
I did copy the numbers from the front of my check. They did deposit the money in my account. I had no problems but it was unusual.

Sidwalkastronomy Loc: New Jersey Shore

We've been writing checks for 100 yes with that info public

frankraney Loc: Clovis, Ca.

tkgraves wrote:

Hi folks, I just sold some equipment to mpb and they are ready to pay me for it but here’s my issue, they only want to pay me by transferring the funds to my banking account, they want my banking account number and routing number, I have bought things from them years ago, and it seems a lot of you folks like them and give them really good ratings, but do you feel it’s ok to just give out that info with the way things Are nowadays, thanks for your input, topkat.

The only thing anyone can do with your account and routing numbers is deposit funds to that account.

It's completely different with a credit card, which can go either way.