Direct deposit banking question - GoFuckYourself.com

newB · 03-19-2013, 09:48 AM

I am wary about giving out my banking account info, though direct deposits would certainly make things considerably easier. It seems to me that a disreputable program might use that info to withdraw funds. I asked my banker about this and he said that it was technically possible and that I might consider adding a separate account to receive monies that I would then transfer to my actual account.

Has anyone had something like this happen to them, or am I worrying myself needlessly?

blackmonsters · 03-19-2013, 10:34 AM

You should open a different account and use that for direct deposit.
A savings account is probably free and it should work for direct deposit.

Having more than one bank is also good.

blackmonsters · 03-19-2013, 10:36 AM

You can also use greendot card for direct deposit; but there is a limit on the card.
I don't remember what it is but $1500 is close if it hasn't gone up.

SmutHammer · 03-19-2013, 10:44 AM

Anytime someone tells me they want direct deposit I move to the next designer, content producer or programmer Whatever the case is. Paypal is much easier for transferring funds.

Barry-xlovecam · 03-19-2013, 10:59 AM

Keep a small account for Debit Card purchases and ACH transactions (Direct Deposit) it's a way of limiting any loss. ($500 - $2,000 balance?)

newB · 03-19-2013, 11:02 AM

Quote:

Originally Posted by blackmonsters

You should open a different account and use that for direct deposit.
A savings account is probably free and it should work for direct deposit.

Having more than one bank is also good.

Wouldn't the savings account still be linked to the business account. So, even if the savings account had a net balance of $0, attempted withdrawals on that account would still get pulled from the operational account.

Quote:

Originally Posted by blackmonsters

You can also use greendot card for direct deposit; but there is a limit on the card.
I don't remember what it is but $1500 is close if it hasn't gone up.

I've seen those at gas-stations. I'll have to look into that as an option.

Thanks.

Just did a quick search and see that the card balance limit is $10,000 with direct deposits - though withdrawal limits are $400 per transaction via a bank teller (with a $2.50 fee per transaction), or daily $400 ATM withdrawal limit with no fee.

https://www.greendot.com/greendot/about-our-products

Certainly an option to look into.

Thanks again.

slapass · 03-19-2013, 11:08 AM

Open a second account and don't link them. If you are in the US most banks allow this. The info you give for direct deposit is the same as what is on your check. So basically if they can withdraw money that way so can anyone who has seen your check.

blackmonsters · 03-20-2013, 10:06 AM

Quote:

Originally Posted by newB

Wouldn't the savings account still be linked to the business account. So, even if the savings account had a net balance of $0, attempted withdrawals on that account would still get pulled from the operational account.

I've seen those at gas-stations. I'll have to look into that as an option.

Thanks.

Just did a quick search and see that the card balance limit is $10,000 with direct deposits - though withdrawal limits are $400 per transaction via a bank teller (with a $2.50 fee per transaction), or daily $400 ATM withdrawal limit with no fee.

https://www.greendot.com/greendot/about-our-products

Certainly an option to look into.

Thanks again.

Oh wow! I didn't know greendot can go up to $10k!

You can still do the savings account though. You would start a whole new account with
a different name. "Newb2", thats good enough. That account will not be linked to any other accounts unless you ask for it.

selena · 03-20-2013, 11:27 AM

I have a sweep account that all paypal money, direct deposits, etc, go into and come out of. It's at my same bank, but not connected to my other accounts. I just transfer stuff in/out of it as needed. I only keep around $50 in there on a regular basis.

03-19-2013, 09:48 AM	#1
newB Confirmed User Industry Role: Join Date: Jul 2006 Location: Somewhere between reality and total ape-shit bonkers. Posts: 2,870	Direct deposit banking question I am wary about giving out my banking account info, though direct deposits would certainly make things considerably easier. It seems to me that a disreputable program might use that info to withdraw funds. I asked my banker about this and he said that it was technically possible and that I might consider adding a separate account to receive monies that I would then transfer to my actual account. Has anyone had something like this happen to them, or am I worrying myself needlessly? __________________ The best Adult Affiliate Programs reviewed and indexed by niche and feature. Easily find the sponsors that suit your needs.

03-19-2013, 10:34 AM	#2
blackmonsters Making PHP work Industry Role: Join Date: Nov 2002 Location: 🌎🌅🌈🌇 Posts: 20,385	You should open a different account and use that for direct deposit. A savings account is probably free and it should work for direct deposit. Having more than one bank is also good. __________________ Make Money with Porn

03-19-2013, 10:36 AM	#3
blackmonsters Making PHP work Industry Role: Join Date: Nov 2002 Location: 🌎🌅🌈🌇 Posts: 20,385	You can also use greendot card for direct deposit; but there is a limit on the card. I don't remember what it is but $1500 is close if it hasn't gone up. __________________ Make Money with Porn

03-19-2013, 10:59 AM	#5
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	Keep a small account for Debit Card purchases and ACH transactions (Direct Deposit) it's a way of limiting any loss. ($500 - $2,000 balance?) Last edited by Barry-xlovecam; 03-19-2013 at 11:00 AM..

03-20-2013, 11:27 AM	#9
selena Confirmed User Join Date: Aug 2004 Location: On The Edge Posts: 7,992	I have a sweep account that all paypal money, direct deposits, etc, go into and come out of. It's at my same bank, but not connected to my other accounts. I just transfer stuff in/out of it as needed. I only keep around $50 in there on a regular basis. __________________ ~ Doer of Things at MetArtMoney Where Flawless Beauty Meets Art ~The MetArt Network ~ selena.delgado9

03-19-2013, 10:44 AM	#4
SmutHammer Confirmed User Industry Role: Join Date: Mar 2008 Posts: 4,134	Anytime someone tells me they want direct deposit I move to the next designer, content producer or programmer Whatever the case is. Paypal is much easier for transferring funds.

03-19-2013, 11:08 AM	#7
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	Open a second account and don't link them. If you are in the US most banks allow this. The info you give for direct deposit is the same as what is on your check. So basically if they can withdraw money that way so can anyone who has seen your check.