- This topic has 16 replies, 1 voice, and was last updated 1 week, 6 days ago by Def_Notta-throwaway.
- Thursday, November 24th, 2022 at 05:56 #409713treetreegoParticipant
If you have a bank account linked to Coinbase that was linked manually instead of using instant verification aka Plaid, Coinbase has unlinked it. Here’s the text of the reply I received when I asked why it happened.
“As part of our continued effort to ensure the safety and security of our customers, we’re updating the payment method linking system for all banks that support instant verification system (Plaid). Any customer bank accounts that support Plaid will no longer be allowed to use the older, test deposit method.
For those customers whose bank accounts have already been unlinked from their Coinbase account, we understand this may have caused some confusion. Your bank account will need to be relinked using our instant verification system to ensure your payment method utilizes the safest, most reliable service.
If your current bank account is supported by Plaid, but your bank was originally linked via test deposit, please be aware that your account may be unlinked in the near future to support instant verification.
For relinking a Plaid supported bank account, you can verify your account by entering your online banking credentials with the instant verification process – you may either complete this during a Buy or Deposit, or by navigating to your Settings > Payment Methods in your Coinbase account.”
I’m done. The rewards are minuscule at this point already and I’d considered dropping them but this was the last straw.Thursday, November 24th, 2022 at 05:56 #409721lucjac1
Plaid is made of fail.Thursday, November 24th, 2022 at 05:56 #409729Def_Notta-throwaway
Weird. I never received any text or email concerning this…Thursday, November 24th, 2022 at 05:56 #409728CarolineEllisonFTX
Will be interesting to see if it’s free for instant withdrawal now vs. the old time frame of 3 days for confirmation.
[What happens if Plaid gets hacked?](https://news.ycombinator.com/item?id=28229319) One spot shop for all your finances getting wiped?Thursday, November 24th, 2022 at 05:56 #409727johnnyb0083
Does Kraken require Plaid?Thursday, November 24th, 2022 at 05:56 #409726DrPechanko
Bye bye, don’t let the door hit you in the ass?
Who cares. Plaid is used everywhere. Reconnect your accounts or don’t, coinbase is the #1 exchange in the US, publicly traded so it is under scrutiny to play by the rules as well.Thursday, November 24th, 2022 at 05:56 #409725ipassedthe65
What the hell are rewards? It’s an exchange as in you exchange money for crypto and send it to your walletThursday, November 24th, 2022 at 05:56 #409724Super_flywhiteguy
So long CB guess I’ll try Kraken next.Thursday, November 24th, 2022 at 05:56 #409723Flynn_Kevin
FYI- If you have 2FA like Authy or Google Authenticator on your bank account Plaid won’t work. You can manually link your bank account the old way by entering the routing/account number & confirming 2 deposits.
Looks like I won’t be able to get fund in or out Coinbase until the banks reopen on Monday…. Not that it matters, my monthly DCA went in last week & I’ve got cash in the account.Thursday, November 24th, 2022 at 05:56 #409722PromptAwkward
I think this is positive because they are increasing security and making it more secure. It’s not a big deal to setup plaid. Takes a momentThursday, November 24th, 2022 at 05:56 #409720treetreego
Thanks cointest for putting 7 million lines on my post that has nothing to do with my post.Thursday, November 24th, 2022 at 05:56 #409719DingDongWhoDis
A little dramatic.Thursday, November 24th, 2022 at 05:56 #409718sos755
I don’t trust Plaid. When you use Plaid you give them access to *all* of your banking information and all of your accounts.
As explained in greater detail below, depending on which of Plaid’s service you or the developer uses, Plaid may collect the following:
* Identifiers (for example, name, email address, phone number, and username);
* Location information (for example, timezone setting and device location);
* Financial information (for example, financial account name and number, balance, and transaction history);
* Commercial information (for example, data relating to which of our services you use through developer apps and the dates and times of your use);
* Electronic network activity information (for example, your device hardware model and operating system, and browser data);
* Professional information (for example, information about your employer and payroll information); and
* Inferences that we have derived from the information we’ve collected (for example, we may derive location from IP address or your annual income from your pay stubs).
**Information we collect from your financial accounts.** The information we receive from the financial product and service providers that maintain your financial accounts varies depending on a number of factors, including what and how information is made available by those providers and the specific Plaid services developers use, or in cases where we offer services directly to you, the Plaid services you use. Depending on these factors, the information we collect may include identifiers, commercial information, financial information, and professional information from your financial product and service providers. More specifically, this may include the following types of information:
* Account information, including financial institution name, account name, account type, account ownership, branch number, IBAN, BIC, account number, routing number, and sort code;
* Information about an account balance, including current and available balance;
* Information about credit accounts, including due dates, balances owed, payment amounts and dates, transaction history, credit limit, repayment status, and interest rate;
* Information about loan accounts, including due dates, repayment status, balances, payment amounts and dates, interest rate, guarantor, loan type, payment plan, and terms;
* Information about investment accounts, including transaction information, type of asset, identifying details about the asset, quantity, price, fees, and cost basis;
* Identifiers and information about the account owner(s), including name, email address, phone number, date of birth, and address information;
* Information about account transactions, including amount, date, payee, type, quantity, price, location, involved securities, and a description of the transaction; and
* Professional information, including information about your employer, in limited cases where you’ve connected your payroll accounts or provided us with your pay stub information.
Depending on the Plaid service a developer uses and the manner that the data is made available, the data collected from your financial accounts may include information from all accounts (e.g., checking, savings, and credit card) accessible through a single set of account credentials.Thursday, November 24th, 2022 at 05:56 #409717HANDSOMEHISOKA
It just needs to be relinked, no?Thursday, November 24th, 2022 at 05:56 #409716BeautifulOk4470
They been planning this shit for months… Toxic AF.
Whoring your data out like that lol
I guess trading fees don’t cut itThursday, November 24th, 2022 at 05:56 #409715edless-94
Fuck I hate plaidThursday, November 24th, 2022 at 05:56 #409714poyoso
Yep. Done with Coinbase.
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