To: newgeezer
He can stop payment on a check, yes. But can he go to your bank after the check has cleared and take it back out of your account? That is what I am talking about.
8 posted on
06/14/2005 8:52:09 AM PDT by
The Ghost of FReepers Past
(Legislatures are so outdated. If you want real political victory, take your issue to court.)
To: The Ghost of FReepers Past
But can he go to your bank after the check has cleared and take it back out of your account?That's exactly what happens if he stops payment on a paper check after you've deposited it in your account. As long as he stops payment before it clears HIS account, you lose, just like the ACH process you're talking about. One is electronic; the other is paper.
11 posted on
06/14/2005 8:56:45 AM PDT by
newgeezer
(Pessimists are often right—and are delighted to be proved wrong. --Geo. F. Will)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson