Quote:
Originally Posted by mineistaken
Excuse my ignorance, but what about you granting access only after check clears and funds are in your account?
I always assumed it was this way, otherwise of course risky like that, big loophole for scammers and fake/fraudulent cheques.
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I'm no expert on it myself. I just remember that we shut off the E-Check option some years ago. I can't remember the details. But it seemed like the consumers were somehow able to get their money back at any time.
I think with a credit card chargeback you can only get up to 6 months of charges or something like that. (billing nerds know more than I do).
So I THINK (if my memory serves me)...that some people were joining and then doing the E-Check equivalent of a "chargeback" for a years worth of sales.
Not sure if I'm remembering it right or not. I just know that we've done just fine without E-Checks and I don't feel like I'm leaving any money on the table.