moderated Re: check writing software?

Sieghard Weitzel <sieghard@...>

Only difference seems to be that with Interac email money transfer you don't have to set up any account, the option is simply there on your online banking just like you can pay your telephone bill or transfer money from one account to another.

The only thing you should probably ask first is whether the recipient is OK with an email money transfer, as I said, there still are a few people who don't use online banking.

If the recipient has auto deposit enabled it is usually not possible to recall the transfer, but if they don't then you can recall it as long as they haven't manually accepted it using the answer to the security question you specified.

There have been cases where email money transfers have been highjacked when a recipients email address was hacked and the hacker happened to see a notification of an incoming email money transfer. If the hacker than is able to guess the answer to the security question they can of course deposit the money into their account no problem. One case which was in the news was of a woman who sent her friend a few thousand Dollars to repay her for the shared expenses of a trip they took together. The security question was "Who is my favourite Beatle" and of course there is a very limited set of answers so the person who had access to her email didn't have too much trouble guessing it and the money was gone. The bank initially said it was her problem for not using a more secure password, but then we have a sort of investigative branch of the CBC (Canadian Broadcasting Service) who sometimes takes on cases like that and after they published the story the bank refunded her the money because the banks advertise email money transfer as very secure and so on.

If I send on which requires a question my question is not really a question, it's usually "As discussed" which means the password is what I discussed it to be with the recipient over the phone or in person and I never use one that doesn't at least consist of a word with upper and lower case characters and some numbers. Not having any clue in the form of a question it would be virtually impossible for a hacker to guess that. Of course auto deposit is the solution to this entire issue since then the money is simply deposited and the only "email" or "text" component is the notification the recipient receives letting them know they received X amount of Dollars from so and so.



From: <> On Behalf Of Brian Vogel
Sent: July 31, 2021 8:44 AM
Subject: Re: check writing software?



Interac and ZellePay sound very similar indeed.  The only difference being that you have to have set up a ZellePay account on both ends of the equation and the deposit is always instant.  The biggest problem with this system, if you consider it one, is that the transaction is instant and cannot be recalled once you've completed it, so you need to be absolutely certain you haven't fat fingered the email address of your recipient.  If you do, the transaction will fail if that address does not have a ZellePay account, but if it happens to be associated with one that money is in that address's associated bank account the moment you hit the button to pay them.

And, as you noted, you can associate a mobile phone number with a given bank account along with an email address or instead of an email address.

I've had a PayPal account for decades (plural, I think, but definitely well over 10 years if not) but haven't established a ZellePay account because it's just not nearly so popular in the USA.  I have one client, and a senior citizen, who uses it and loves it and asked me if I accepted Zelle payments the last time I did a job for her.

Brian - Windows 10, 64-Bit, Version 21H1, Build 19043  

It is the function of creative men to perceive the relations between thoughts, or things, or forms of expression that may seem utterly different, and to be able to combine them into some new forms--the power to connect the seemingly unconnected.

    ~ William Plomer

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