Originally Posted by rubberchicken
Originally Posted by dan_erickson
Last night i was filling out paper work online about refinancing the house with a different mortgage company. They also wanted my account number, routing number and bank name. I passed.
This is standard info for processing ACH payments. That provides a lot more oversight than userid and pw to your bank.
^Exactly^ Absolutely 100% - providing bank name, routing number and account number is the standard of making payments for autodraft.
There is nothing what so ever wrong with this and I really mean nothing, it far more secure then putting a check in the mail.
Whenever you write a check, you are already providing your routing number and account number, your check has your routing number and account number printed right on the front of the check!
So why not provide it? Its way more secure! YWhy would you send that info through the mail to some unknown payment processor someplace in the country?
As far as asking your bank name, that is to CONFIRM the routing number is correct, in the routing number, tells the name of the bank.
By the way, anyone who gives out their bank log in and password needs their head examined

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Like hello? There is a reason you have a password. So only you have access and the bank knows you are the owner of that account, if you give out your password you then allow others to be the owner of your account, why not just take the stranger to the bank itself and put the strangers on your account? Its the same thing.