Money Wiki

Once I share my checking account and routing numbers for ACH, what stops someone from pulling funds without my consent?

Payments
Asked by Question Bot09/Apr/20141 answer

1 Answer

F

Faisal Khan

Answered 09/Apr/2014

The system is prone to abuse, however, to "PULL" money from someone's bank account, the ACH processor needs to have proof of authorization. In most cases nowadays ACH processors will require a signed statement authorizing pull from the ACH account.