Value of an old IBM PS2 CL57 SX Laptop 3330
It seems the whole of the US system is making a glorious mess of the "pull" based system. There must be something that can be done; at least an encapsulation; i.e. only allow pull from explicit account which is only transferred the required amount of money from another, non-check arrcount.
Also, contracts should be formed so court action could be taken against embezzlers.
Fortulatly, we don't have the pull system. This system is fundamentally push, even on the debit cards.
Bills are received into the internet banking system, and I can have a pre-authorised amount for every supplier-month. It they exceed that I get an e-mail directly; and the bill is placed on hold for me to act on.
I can also send a return notice of "disputed bill" and a comment about what is disputed. If the dispute is about a minority amount I must still pay the remainder of the bill.
Value of an old IBM PS2 CL57 SX Laptop 3331
Our Congress critters at work again. They've forgotten the mess made with S&Ls. I've thought about this. It will only work well when all people start to do 'credit card' transactions. I estimate it's...
They have to put out a physical bill reminder if I don't pay on time; but they can charge 2% penalty interest and add a $7 charge on it. This does not apply to disputed items; corporations have to answer these if the bill is not just to lapse, and I will then have a 60 day grace period to take other action before it can be collected.
On the debit side the issuing bank has to authorise all pin validations and individual transactions. It works; the "debit cards for minors" will not work to buy booze. After validation there is a giro transction from the paying bank to the receiver.
Value of an old IBM PS2 CL57 SX Laptop 3332
And the "certain minimum" is not zero ? If this is in a separate account, and they misbehave, why not cry "fraud", go to small claims court with the charge times three, and possibly even...