FYI: identity theft

From: Joe R. <rigdonj_at_cfl.rr.com>
Date: Wed Nov 24 21:32:36 2004

At 05:52 PM 11/24/04 -0600, Jim wrote:
>I dont know if this involves direct deposit or not, but if it does, do
>not do it. In the US the law clearly gives anyone who can directly
>deposit the right to also withdraw. They claim the law is necessary
>(bankers loby) so that if someone deposits too much they can retrieve
>the excess. BUT they are not limited to only the amount of the
>orriginal deposit so they could drain your account. I dont even like
>giving the Social Security people the direct deposit ability but the
>government has now decided that if you want SS you have to get it by
>direct deposit. Same goes for my pension.
>
>The best thing to do in these cases is to have a dummy bank account,
>one that is FREE from monthly charges and keep just $5 in it. Then
>accept all payments to that account then immediately transfer the
>funds to your regular account. Today with computer banking its not
>very hard to do.



 I do that with my PayPal account because PayPal has
>the ability to withdraw from your account also.


   That's just one more reason that I refuse to accept Paypal!!!!!!! I
take checks, cash and money orders PERIOD. That way I don't have to worry
about someone draining my account.

   Joe
Received on Wed Nov 24 2004 - 21:32:36 GMT