Comment by praptak
Comment by praptak 12 hours ago
Fortunately I can review direct debit consents and revoke them via my bank's web app UI.
Comment by praptak 12 hours ago
Fortunately I can review direct debit consents and revoke them via my bank's web app UI.
Mercury's personal banking product allows you to reject ACH transactions before they clear. They also allow you to generate virtual account numbers, so you can easily cut off an entity without having to change your main account number. Unfortunately Mercury charges a monthly fee.
That's pretty cool! I didn't know about that.
For anyone curious, the fee is $240/yr.
I used Mercury when I had an LLC and had a great experience. It feels like they're the only bank that's not 10 years behind in technology. I've never tried their personal banking, but the ACH denial power makes me a lot more curious.
SEPA Direct Debit (the standard way to debit accounts within the SEPA, i.e. roughly "Europe/Eurozone") gives you 8 weeks to revert a debit that you disagree with. Whether a bank exposes this in the UI or not depends on the bank.
Probably every EU bank: https://docs.adyen.com/risk-management/chargeback-guidelines...
Every bank in Germany allows you to dispute transactions done with Debits.
At ING it's just a button click. It's directly next to the transaction on their app.
I've seen such features on business accounts (Wells Fargo ACH Fraud Filter, JPMorgan ACH Debit Block, etc).
What bank allows that on a consumer account?