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Are you comfortable with the recent change in Privacy.com ? They are using Patriot Bank out of North Dakota as an intermediary. Previously Privacy.com would di
by AareyBaba 4y ago
Are you comfortable with the recent change in Privacy.com ?
They are using Patriot Bank out of North Dakota as an intermediary. Previously Privacy.com would directly debit from your checking account. In the new process you are signing up for a credit card with Patriot Bank under the hood. They pass on your checking account info to Patriot Bank and somehow money gets exchanged. I don't fully understand the process and don't trust men-in-the-middle like this.
I wasn't satisfied with the information I got from Privacy.com customer service. Has anyone researched this and confirmed there are no shenanigans in the new process. I used to use Privacy for many years but stopped because of this.
- josephcsible 4y agoWhat specifically is your concern about that new process?
- AareyBaba 4y agoOld process: Me -> Privacy.com -> My checking account New process: Me -> Privacy.com -> Patriot Bank credit account -> My checking account. My concern is I am forced to sign up for Patriot Bank credit services. Also Patriot Bank gets my checking account information.
- snoopy_telex 4y agoI actually use a bastion bank account so privacy and patriot never get my real one. I push money to the bastion bank and if they do something funky, my exposure is limited.
- moduspol 4y agoWas this part of the big change they did a few months ago to use credit card numbers that vendors can't see as temporary / prepaid? I'm not sure about what you're describing, but it's been substantially more useful to me since that change.
- thaeli 4y agoSounds like it. They would have to have a "traditional" credit card account to not show up as prepaid on the system.