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From: rtp1@tank.uchicago.edu (raymond thomas pierrehumbert)
Newsgroups: comp.sys.mac
Subject: Re: CheckFree for the Mac! - Mixed News
Message-ID: <9185@tank.uchicago.edu>
Date: 8 May 90 17:28:58 GMT
References: <19489.26371d54@oregon.uoregon.edu <1262@gort.cs.utexas.edu> <7198@crdgw1.crd.ge.com> <287@garth.UUCP>
Distribution: usa
Organization: University of Chicago
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>Bad news
>No EFT.
No, that's good news.  Your savings are safe.  Did you read the fine 
print?  You have absolutely unlimited liability for unauthorized
withdrawals of any amount (even more than you have in your bank
account, even, say $100000), up until the time you inform 
CheckFree that you suspect something wrong.  They will even
help your bank defend itself if you sue it for improper withdrawal.
     What awesome security measures protect you from this 
unlimited liability?
(1)  The hope that nobody can find out your address and social
security number,
(2)  The hope that no criminal can get a copy of the CheckFree
software. (Gues they don't have phones, so they can't order 
through the 800-number).
(3)  I mighty password of ...FOUR DIGITS.  Not even letters and
digits.  Even without getting fancy, a thief could break into your
account solo in a year by trying three passwords a day.    Your 
password is sent to you ON PAPER, and you have no way to 
change it online.

This all spells TROUBLE to me, with a capital TROUBLE.  I am 
shocked that this service lacks the customer protection that
is a key part of the bank card and credit card business.
.
: