Anyone have Sears MasterCard limit decreased

toedtoes wrote:
Here is the information on Automatic Debit Scams. As you can see, they have to obtain your bank account number (not your debit card number).

This is "inaccurate" also.

They do NOT have to have your actual bank account number.

Your debit card info, when used, 'includes' your bank account number within the transaction taken, because it is attached to that account. That is how the money is taken out.

The company's that 'auto' debit you for a bill pay or where you might purchase something using the debit card, does not physically need to have your bank account number just the info that is on the debit card.

I just set up 4 bill pays over the phone and all that was required was my debit card number and expiration. Only one of the four asked for the code on the back.

My bill pay for my car insurance and YMCA did require one of my checks signed with void across it to set up auto bill pay. They were the ONLY ones that required the actual check/acct number.

There are 2 ways a company may ask you for to set up an automatic bill pay.

1. A real check with void across it physically provided to company.
2. Debit card info.

Yup in the 'old days' they needed your bank account number. Fast forward to today and they don't need it. Just the info on your debit card.

So if you loose it, or put the info on the internet for a purchase someone can get just those two bits of info and use it for an 'auto' debit if they are capable of doing so.

Technology is at warp speed and they left a gaping security hole regarding 'auto pay debits' for the unscrupulous to use if they choose to.

You can't tell me that no one here on this forum has set up 'auto bill pay' for your cell, cable etc, by just giving them their debit card info?? :B