Subject:
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Re: X.com... good idea, lousy execution?
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Newsgroups:
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lugnet.market.theory
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Date:
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Fri, 28 Jan 2000 17:32:55 GMT
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Viewed:
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1418 times
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FYI:
MONEY MOVES MADE EASY BY ONLINE BANK
As financial institutions continue to develop online innovations (see
stories below), electronic banking got some bad news when it was discovered
that the software used by the online X.Com Bank allowed customers to
transfer funds from the account of any person at any U.S. bank. All they had
to know was the person's account number and bank routing information.
According to the company, the dollar amounts involved in fraudulent transfer
were "not significant," and the security flaw has now been corrected. But
security expert Elias Levy says, "Anyone with half a clue could perform
these unauthorized transfers for over a month via their Web site and create
some real financial problems for other people." The company's Web site
boasts that its use of technology "makes accessing and moving your money
easy." (New York Times 28 Jan 2000)
http://www.nytimes.com/library/tech/00/01/biztech/article...
Larry Pieniazek <lar@voyager.net> wrote in message
news:388E0282.D3CBC00A@voyager.net...
> However here's my question. Is it just me or is everyone else who's
> tried this latelyt had some hiccups too?
>
> Is this a viral marketing success story that has swamped the company? Or
> is it just me?
>
> At this point I am nervous about asking people to pay this way, if I
> don't see the money show up in my account, they are stuck and so am I.
>
> Note that if someone says "it worked fine 2 weeks ago" that doesn't
> count, that was then... this is now. X may be in an exponential growth
> curve so I'm interested in TODAY's experiences. Or at least yesterdays,
> anyway.
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Message is in Reply To:
 | | X.com... good idea, lousy execution?
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| I see where X.com is now suggesting that people use it to settle auction payments. This answers the question that some folks had about whether you could refer your customers and get the bonus. You can. https://www.x.com/pa...ctions.asp (...) (25 years ago, 25-Jan-00, to lugnet.market.theory)
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