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> […] and store your credentials. And doing so violates the terms of service with many banks: > You agree that you will not authorize a third party to use th
by throw0101b 2y ago
> […] and store your credentials.
And doing so violates the terms of service with many banks:
> You agree that you will not authorize a third party to use the Service or share your credentials with a third party to use the Service on your behalf except in legally authorized situations such as legal guardianship or pursuant to a power of attorney.
* https://www.bankofamerica.com/online-banking/service-agreement.go#cat4_topic2 https://www.bankofamerica.com/online-banking/service-agreeme...
- labbett 2y agoI stopped using services like Coinbase that force you into Plaid. My final straw was getting a notification that I had to relink my accounts because I had changed my bank's password. The banks are just as to blame. I'd love some basic non-SMS 2FA as a starting point, but sadly my bank is only the #6 largest in the US so they don't have the budget for it.
- joshka 2y agoOddly, BofA actually has mechanisms in place to allow non-credential sharing access to external services. Try linking a paypal account and you'll get a prompt from a Bank of America system that allows paypal to access all your banking details.
- tdignan 2y agoI’m sure that legalese is there for the event that you link a third party service and it empties your account.