Risk in Giving Bank Account Info for Payouts

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  • cincy
    SBR Sharp
    • 09-30-07
    • 403

    #1
    Risk in Giving Bank Account Info for Payouts
    What is the risk in giving my bank account info to a sportsbook when requesting an ach electronic funds transfer to my bank account?

    If the info got in the wrong hands could money ever be deducted from my bank account without my authorization.

    If money was ever deucted from my bank account without my authorization, would I be out the money or would I be able to tell my bank so they could credit my bank account and try to get the money back?

    Is it better to tell sportsbook my savings account number or checking account number. I have always told them my checking account number because my checking balance is lower than my savings. But I wonder if a savings account has any extra protection and does not allow transfers out of the account since it is a savings account.

    I have never had any problem where money was deducted from my bank account without my authorization so I assume the risk is low but wanted to get some feedback on this.

    Does anyone work at a bank and have any input?

    Has anyone ever had money deducted from your bank account without authorization?

    Thanks.
  • Fischnasty
    SBR MVP
    • 02-10-09
    • 1931

    #2
    completely depends on the book...
    also, most banks (at least the ones i have accounts with) are fairly good about this
    Comment
    • Keith Richard
      SBR MVP
      • 07-06-06
      • 1576

      #3
      Years ago I had a small amount(29 or so) deducted from my checking account. Was told it was used to purchase porn videos.My guess it was one of the sportsbook clerks used my personal info somehow.
      Comment
      • jjgold
        SBR Aristocracy
        • 07-20-05
        • 388179

        #4
        All you do is set up a separate checking account for gambling transactions, real simple

        GL Pal
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