I do not share your concern that someone could transfer all our points to a bank account. The transfer is not completed in real time, and the banking system has more robust fraud protection than transfers between rewards programs. I am not saying that it is impossible, but improbable.
To add a bit more info , the bank account I added for the UR transfer is only in my wife's name.
I did this on purpose to test the system.
All Chase asked for was the acct # and routing #, there was no place to add the name of the new bank account.
Let's see if it goes through, if it does she could be accessing my account and "stealing" my points so I'm not sure how someone else couldn't do the same.
EDIT.........Since my original post I received an email saying cash is on the way and will be deposited by 8/12 so I'm guessing the xfer is going to go through.
Now if it was fraud you would see the email but who knows how it would play out if you missed the email from Chase.