Paying Bills with Secret Accounts at the Federal Reserve is Illegal!
Misinformation is circulating on social media platforms falsely claiming that consumers can use certain routing numbers and their Social Security Numbers (SSNs) to pay bills from “secret accounts” at the Federal Reserve, government agencies or some banks.
Consumers who follow this advice are putting themselves in legal jeopardy by attempting to pay bills from non-existent accounts. Worse, the bills will remain unpaid and the consumer will be subject to late charges, increased monitoring and possible prosecution.
State Bank’s advice is simple: Do not attempt to pay bills from secret accounts that you read about on the Internet. The accounts do not exist. The people who share, re-post or promote such information should know better and are spreading falsehoods.
Information adapted from NACHA ACH Operations Bulleting #3-2017