How ACH works: A developer perspective
This made me cringe:<p>> <i>Your [bank] will set you up with a secure FTP server onto which you’ll upload ACH files.</i><p>Automated financial transactions, with lots of money involved. Secure. <i>FTP server.</i><p>Of course I know that FTP is still considered "secure" for some business applications but this is absurd. With all the security (mis)features the banks have put forward with card payments in order to shift liability to account holders, the very core of inter-bank transactions then runs on something as insecure as FTP.<p>The shoemaker's children have no feet.