PayPal now requiring us to give our bank logins to a third party

[Toothpick]

My banking has been linked for years and I‘ve never once been asked for my bank login info. Not even recently. Not even today when I transferred money. Now….don’t get crazy, I’m not suggesting what is being said here is false. Merely saying what is being said here doesn’t affect me, and potentially doesn’t affect many more people. As far as asking for bank login info that is. Maybe that’s because it’s already linked. Who knows. But when the time comes they require my bank login info I suppose that’s the time I will do my online payment business elsewhere. Until then if someone wants to pay me via PayPal I‘m not going to turn it down just because they might ask for my bank login info at some point down the road. Why would they even need that info? They already have the routing and bank account number??

More and more retailers and online shops are accepting Apple Pay. I love that. So whenever that’s an option I always use it. Also the added benefit of 2% cash back with the Apple Card.

 

[Hachet]

My banking has been linked for years and I‘ve never once been asked for my bank login info. Not even recently. Not even today when I transferred money. Now….don’t get crazy, I’m not suggesting what is being said here is false. Merely saying what is being said here doesn’t affect me, and potentially doesn’t affect many more people. As far as asking for bank login info that is. Maybe that’s because it’s already linked. Who knows. But when the time comes they require my bank login info I suppose that’s the time I will do my online payment business elsewhere. Until then if someone wants to pay me via PayPal I‘m not going to turn it down just because they might ask for my bank login info at some point down the road. Why would they even need that info? They already have the routing and bank account number??

More and more retailers and online shops are accepting Apple Pay. I love that. So whenever that’s an option I always use it. Also the added benefit of 2% cash back with the Apple Card.

So firstly, as mentioned, this affects people (including myself) who have had a linked and verified bank account since first signing up years ago. Secondly, "doesn't affect me" really isn't helpful and really doesn't need to be said, as it obviously doesn't affect that many people currently. Thirdly, I don't think anyone here is suggesting that anyone drop PayPal in anticipation of this happening to them. Also, it doesn't affect anyone's ability to accept payments. That wasn't brought up here and it wasn't in any of the customers' comments found on the web. The new Yodlee verification only seems to occur when a customer tries to send a direct payment (without any explanation as to why.) And I completely agree that it makes no sense for them to ask for our bank account login info (to hand over to a third party no less!) when they already have our account and routing numbers that were used to verify our linked accounts years ago, which is pretty much the point I'm making here; It's absurd that this is PayPal's new official policy. It punishes customers for not handing over their bank login. I'm certainly not going to do that, so I'm one of the unlucky individuals who no longer gets to send direct payments through PayPal. Meanwhile, PayPal seems to have no problem with me using their service to buy whatever I want online at places that accept PayPal. Drafts right out of my linked verified account as it always has.

 

[cleanshaved]

The issue is not limited to debit cards as some people have replied. If you read other people's experiences you'll find that this problem seems to pop up for no reason at all (meaning it doesn't take a trigger to pop up) and it affects people in different ways. For example, One customer doesn't even have a bank account linked to his PayPal account and thus cannot provide the login details they are asking for. He has some kind of relay and of course, if he tries to attach a bank account now, after all these years, he'll be asked to give up his bank login to Yodlee since that's their new policy. Also, another customer signed up over a decade ago and there was no electronic banking (through a website) at that time, and thus, he has never even had an online account to access his banking institution. He is dead in the water because he has no login information to provide. Others reported that they experienced the same problem even with a credit card attached. This is clearly an [intentional] oversight by PayPal to weed out those who will not comply with ridiculous, nay, DANGEROUS demands for bank login credentials. Also, as I pointed out on the BST thread, saying things like, "Doesn't affect me!" doesn't add anything to the conversation. The fact is that this is PayPal's new policy and it's only a matter of time before it DOES affect you. Not caring now won't protect you in the future. Anything can happen. Your bank account could be seized or you may need to switch banks... anything can happen. When it does happen, you will be asked, like us, to hand over your bank login and they will most certainly tell you that if you don't like it, you can go elsewhere (and they DEFINITELY do not mean within PayPal's ecosystem.)

Many people are stating they are not having this issue which contradicts what you're saying, me included yet you don't want to except that fact.
Actually saying it does not effect me does add to the conversation. It may not be what you want to hear but it adds to the fact that this is not effecting everyone.

 

[Hachet]

Many people are stating they are not having this issue which contradicts what you're saying, me included yet you don't want to except that fact.
Actually saying it does not effect me does add to the conversation. It may not be what you want to hear but it adds to the fact that this is not effecting everyone.

What on earth are you talking about? It CLEARLY does not affect everyone. I not only accept that, I have STATED it. I don't "not want to hear it." It's a fact.

 

[Toothpick]

So firstly, as mentioned, this affects people (including myself) who have had a linked and verified bank account since first signing up years ago. Secondly, "doesn't affect me" really isn't helpful and really doesn't need to be said, as it obviously doesn't affect that many people currently. Thirdly, I don't think anyone here is suggesting that anyone drop PayPal in anticipation of this happening to them. Also, it doesn't affect anyone's ability to accept payments. That wasn't brought up here and it wasn't in any of the customers' comments found on the web. The new Yodlee verification only seems to occur when a customer tries to send a direct payment (without any explanation as to why.) And I completely agree that it makes no sense for them to ask for our bank account login info (to hand over to a third party no less!) when they already have our account and routing numbers that were used to verify our linked accounts years ago, which is pretty much the point I'm making here; It's absurd that this is PayPal's new official policy. It punishes customers for not handing over their bank login. I'm certainly not going to do that, so I'm one of the unlucky individuals who no longer gets to send direct payments through PayPal. Meanwhile, PayPal seems to have no problem with me using their service to buy whatever I want online at places that accept PayPal. Drafts right out of my linked verified account as it always has.

Alright then. I’m going to continue to use PayPal until this Yodlee thing asks for my bank info.

Thanks for the info!

 

[luvmysuper]

Meanwhile, PayPal seems to have no problem with me using their service to buy whatever I want online at places that accept PayPal. Drafts right out of my linked verified account as it always has.

It sounds like somehow, for some obscure reason, you got caught up in some actuarial table criteria which caused them to do this. It's unfortunate that they are unlikely to ever share why that is.
Is it possible for you to send money from your linked account to your PayPal balance, then pay your seller from your PayPal balance rather than your bank account?
More steps, but possibly an option?

The reason that drafts from your linked account to online retailers are successful is that vendors who offer a PayPal option for payment are by default automatically creating an invoice.
If a seller sends an invoice through PayPal, whether it be through the "PayPal Button" or by manually creating one, the buyer doesn't even need to have a PayPal account to pay, just a valid credit card.

 

[Hachet]

It sounds like somehow, for some obscure reason, you got caught up in some actuarial table criteria which caused them to do this. It's unfortunate that they are unlikely to ever share why that is.
Is it possible for you to send money from your linked account to your PayPal balance, then pay your seller from your PayPal balance rather than your bank account?
More steps, but possibly an option?

The reason that drafts from your linked account to online retailers are successful is that vendors who offer a PayPal option for payment are by default automatically creating an invoice.
If a seller sends an invoice through PayPal, whether it be through the "PayPal Button" or by manually creating one, the buyer doesn't even need to have a PayPal account to pay, just a valid credit card.

These are valid points. I was going to explore adding funds to my PayPal account and then trying a direct payment again since I noticed that this is the first time (that I'm aware of) in a very long time that I do not have a large PayPal balance when trying to send money. My PayPal account is usually plenty full from accepting payments for goods and services. Also, I didn't even consider requesting an invoice. Very good idea. Thanks!

 

[Toothpick]

Secondly, "doesn't affect me" really isn't helpful and really doesn't need to be said, as it obviously doesn't affect that many people currently.

I‘m also just curious what exactly would be helpful here? Since you’ve said that numerous times here when quoting people’s posts.

If this thread is just an informational thread to alert people that Yodlee is hooked up with PayPal and will potentially ask for your bank account login at some unknown point in the near or distant future that’s fine. Thanks for the info. You will just have to accept that people are free to post things that, in your opinion, might not be helpful (also, IDK how you get to decide what is helpful and what isn’t??).

But, if this is your attempt to mount your defense, grab your soapbox, and sway people away from PayPal perhaps that would be better suited for another online forum. I think you’ve made your point - Yodlee asks for your bank login info. That’s bad. We all get it.

 

[Hachet]

I‘m also just curious what exactly would be helpful here? Since you’ve said that numerous times here when quoting people’s posts.

If this thread is just an informational thread to alert people that Yodlee is hooked up with PayPal and will potentially ask for your bank account login at some unknown point in the near or distant future that’s fine. Thanks for the info. You will just have to accept that people are free to post things that, in your opinion, might not be helpful (also, IDK how you get to decide what is helpful and what isn’t??).

But, if this is your attempt to mount your defense, grab your soapbox, and sway people away from PayPal perhaps that would be better suited for another online forum. I think you’ve made your point - Yodlee asks for your bank login info. That’s bad. We all get it.

Why do you keep insisting that I am trying to sway people away from PayPal? It's super odd that you feel the need to defend them. Also, see the input from the last poster. That was very helpful input. I get to decide what is helpful as it is either helpful or it isn't.

I find it truly bizarre that you are offended that people are talking about having issues with a service provider to the point that you actively defend the service provider with facts that no one disputed in the first place.

I mean it is truly bizarre. If you aren't affected, then thank your lucky stars and let those of us who are affected grump about it, as you seem to be a proponent of free speech.

I for one am grateful that at least one other poster offered actual solutions to the problem instead of just repeatedly trying to get me to argue. I didn't come here to stand on a soap box. I shared my experience. Others shared theirs and some people even offered valuable comments and advice. There is no reason for you to continue to engage us here.

You're welcome (for whatever it is you thanked me for)

 

[cleanshaved]

I for one am grateful that at least one other poster offered actual solutions to the problem instead of just repeatedly trying to get me to argue. I didn't come here to stand on a soap box. I shared my experience. Others shared theirs and some people even offered valuable comments and advice. There is no reason for you to continue to engage us here.

I do believe I suggested they were saying use another Paypal option which you quickly rebutted, cap locks and all.
Glad you have now been able to see one of the other PayPal options available that may work for you. Hope it works out.

 

[Toothpick]

Why do you keep insisting that I am trying to sway people away from PayPal? It's super odd that you feel the need to defend them. Also, see the input from the last poster. That was very helpful input. I get to decide what is helpful as it is either helpful or it isn't.

I find it truly bizarre that you are offended that people are talking about having issues with a service provider to the point that you actively defend the service provider with facts that no one disputed in the first place.

I mean it is truly bizarre. If you aren't affected, then thank your lucky stars and let those of us who are affected grump about it, as you seem to be a proponent of free speech.

I for one am grateful that at least one other poster offered actual solutions to the problem instead of just repeatedly trying to get me to argue. I didn't come here to stand on a soap box. I shared my experience. Others shared theirs and some people even offered valuable comments and advice. There is no reason for you to continue to engage us here.

You're welcome (for whatever it is you thanked me for)

I’m not offended at all or trying to defend PayPal. I’m just saying I will continue to use them until this yodeling company asks for my bank stuff. Sorry you couldn’t read though my non-helpful reply and see that I thanked you for informing me (and others) that Yodlee wants access to your bank.

And let’s not fool ourselves - this is a privately owned website where the concept of free speech is just an illusion.

In an attempt to be helpful - here’s an article on how to close your PayPal account for those interested.

How do I close my PayPal account? | PayPal US

We'd love to have you in the PayPal community. Plan to use your account in the future? We recommend keeping it open.

www.paypal.com

 

[Hachet]

I do believe I suggested they were saying use another Paypal option which you quickly rebutted, cap locks and all.
Glad you have now been able to see one of the other PayPal options available that may work for you. Hope it works out.

While it may be true, the rep didn't offer any such suggestions but did eventually just say what I suspected he meant, which was to use a different service provider. And just saying, "they were just telling you to try something else" is not nearly as helpful as what another poster added (an actual suggestion.) But I don't care if people want to take credit for things they didn't really do. The fact is that someone did post helpful suggestions and hopefully this thread will survive for posterity's sake.

 

[cleanshaved]

While it may be true, the rep didn't offer any such suggestions but did eventually just say what I suspected he meant, which was to use a different service provider. And just saying, "they were just telling you to try something else" is not nearly as helpful as what another poster added (an actual suggestion.) But I don't care if people want to take credit for things they didn't really do. The fact is that someone did post helpful suggestions and hopefully this thread will survive for posterity's sake.

I'll just have to disagree with you.

 

[Hachet]

If I want to express my opinion of them I’m free to do so just as you are free to express yours.

this is a privately owned website where the concept of free speech is just an illusion.

It always comes down to this when people disagree on a public forum. Mods and site operators like to remind us how we don't get to disagree with them.

 

[Toothpick]

It always comes down to this when people disagree on a public forum. Mods and site operators like to remind us how we don't get to disagree with them.

This isn’t helpful. Just saying ”we can’t disagree with mods and site operators” doesn’t need to be said. I get to decide what is helpful as it is either helpful or it isn't. And this isn’t.

 

[luvmysuper]

I noticed that this is the first time (that I'm aware of) in a very long time that I do not have a large PayPal balance when trying to send money. My PayPal account is usually plenty full from accepting payments for goods and services.

It is possible that they have previously experienced a number of people who maintained larger PayPal balances, who drew down on their balance and then made purchases that later went sour. That's what I meant previously about specific flagging criteria. It's crazy sometimes what otherwise innocent actions can put regular people into weird special loops.
Like ordering "Fully Automatic Rifle and 200 rounds of Ammo Soap". You may chuckle, but I have seen products that are not THAT far away from such a name.

 

[Hachet]

It is possible that they have previously experienced a number of people who maintained larger PayPal balances, who drew down on their balance and then made purchases that later went sour. That's what I meant previously about specific flagging criteria. It's crazy sometimes what otherwise innocent actions can put regular people into weird special loops.
Like ordering "Fully Automatic Rifle and 200 rounds of Ammo Soap". You may chuckle, but I have seen products that are not THAT far away from such a name.

There is undoubtedly something fishy with their algorithm. It feels like they've flagged me but offer no explanation as to why. Not even a way to fix it. Those work arounds are doable if they do in fact work.

 

[luvmysuper]

There is undoubtedly something fishy with their algorithm. It feels like they've flagged me but offer no explanation as to why. Not even a way to fix it. Those work arounds are doable if they do in fact work.

Yeah, no way are they going to say what it was. For a business, that's giving out a recipe for nefarious people to try to hide their deeds and expand their opportunities.
If it got out how to avoid the flags, the crooks would be right there to exploit it.

 

[Doc4]

 

[Hachet]

Yeah, no way are they going to say what it was. For a business, that's giving out a recipe for nefarious people to try to hide their deeds and expand their opportunities.
If it got out how to avoid the flags, the crooks would be right there to exploit it.

Makes sense. Good point.