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Same reason I refuse to use Venmo. Yes, I know that Venmo is owned by the banks. No, that doesn't mean I'm going to type my bank account's credentials into your
by kibwen 3y ago
Same reason I refuse to use Venmo. Yes, I know that Venmo is owned by the banks. No, that doesn't mean I'm going to type my bank account's credentials into your app.
- prepend 3y agoI use Venmo and have never entered my bank login. I just have my routing and account number.
- onlyrealcuzzo 3y agoSince when did you have to do this to use Venmo?
- kibwen 3y agoLast time I tried was years ago. I'd love to be wrong, because checks are a pain in the ass.
- Rietty 3y agoYou don't AFAIK. Mine just asked for a routing and account number.
- burkaman 3y agoYou don't, you can use Plaid but you can also just given them a routing and account number. https://help.venmo.com/hc/en-us/articles/221073067-Verifying-Your-Bank-Account https://help.venmo.com/hc/en-us/articles/221073067-Verifying...
- Terr_ 3y agoI mainly use it with some friends to re-balance "who's paying for the meal this time", so I just offer to pay the bill when my Venmo balance gets low. Granted, this gives Venmo a small amount of cash to theoretically make interest off-of, but to me it's worth not entangling it with the routing-numbers of any important accounts.
- nradov 3y agoVenmo is owned by PayPal. You're thinking of Zelle, which is owned by banks. Both are terrible.
- tzs 3y agoVenmo is owned by PayPal. You were probably thinking of Zelle, a similar service owned by several banks. Many of the banks that own Zelle have it built into their banking apps, so if you use one of those you may have Zelle access without any extra credential entering.
- FireBeyond 3y agoI am philosophically opposed to ever using Zelle. The banks behind Zelle openly stated in Zelle's planning that one of the motivations behind it was liability shifting, away from the banks, on to consumers. Other benefits to the consumer are just to make the platform more appealing.
- xyzelement 3y agoWhat kind of liability can we be talking about here?
- FireBeyond 3y agoAgainst fraudulent transactions.