Fraudulent telemarketers have found yet another way to steal your money, but this time from your checking account. Consumers across the country are complaining about unauthorized debits (withdrawals) from their checking accounts. Automatic debiting of your checking account can be a legitimate payment method; many people make mortgage or car payments this way. But the system is being abused by fraudulent telemarketers. If a caller asks for your checking account number, or other information printed on your check, you should follow the same warning that applies to your credit card number - do not give out checking account information over the phone unless you are familiar with the company and agree to pay for something.
Facts for Consumers - Fed. Trade Commission March 1996.
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