Check if US ACH is really chargeback risky

[ManfredKarrer]

Gather clear information about the chargeback risks of ACH payment in the US. We have it deactivated because we considered the chargeback risk too high.

[pranay01]

Would like to explore this. Do I need to get it assigned to me before working on it? Also, what is the nature of output expected - just a report based on research?

[mrosseel]

assigning is not needed, just indicate on this ticket you will be working on it and when you think you can finish it. A report based on research is indeed the expected output.

If you're unsure feel free to ask further questions on this ticket or in slack!

[cbeams]

Would like to explore this.

Great!

Do I need to get it assigned to me before working on it?

No, but I've just invited you to join the @bisq-network org and can assign it to you if and when you accept.

Also, what is the nature of output expected - just a report based on research?

Yes, a write up on your findings is good for a start, and you can submit that as a comment here, or write it up in a Gist or other doc that you link to from here.

Of particular interest in that report would be research into LocalBitcoins' support for ACH/WIRE and what kind of issues users there have run into.

/cc @flix1

[pranay01]

Ok. @cbeams Have joined @bisq-network
I will be working on it and plan to finish it within a week.

[cbeams]

Great, @pranay01. I've assigned you to this issue. Looking forward to your findings!

[ManfredKarrer]

@pranay01 Did you find out something?

@flix1 Do you know about the risk of ACH or if there is a way to avoid that ACH can be used for a local bank transfer in the US, thus forcing a WIRE transfer which seems to have less chargeback risk.

[pranay01]

@ManfredKarrer Added my research on ACH chargeback risk
https://docs.google.com/document/d/1vf7vhZbIOTgFHkJk0zRlv0_55nbOWTufNTIRnoaN-cI/edit?usp=sharing

[ManfredKarrer]

Great thanks! Can you compare it to Zelle or Quickpay regarding chargeback risk?

[ManfredKarrer]

@cbeams @flix1
Could you have a look to that screen if the data fields are correct?
We have the requirement that the routing nr has 9 numbers and the account number 4-17 numbers.
Account types are checking and savings.