Stripe now supports ACH payments

Re:Stripe now supports ACH payments by mapgrep on Tuesday January 12, 2016 @05:18PM (#10890845)

Wait, so if I pay someone with ACH, they get to see how much money is in my bank account? WTF?

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Re:Stripe now supports ACH payments by zrail on Tuesday January 12, 2016 @05:36PM (#10890951)

No. Plaid instant verification uses your bank login info to get the ACH numbers along with current balance, etc. You can't get that just with account and routing number.

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Re:Stripe now supports ACH payments by FireBeyond on Tuesday January 12, 2016 @08:25PM (#10891704)

Yeah, like I mentioned upstream, not sure why any developer should have access to my account balance...

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Re:Stripe now supports ACH payments by mateosu on Wednesday January 13, 2016 @11:56AM (#10895679)

I mean, these are fintech companies we're talking about here. If you're signing up for these services your generally already deciding to trust the company with personal data. Plus, you still have to login to your online banking with Plaid, it's not like developers have unlimited, unauthorized access to you r account balance and transaction information.

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Re:Stripe now supports ACH payments by FireBeyond on Wednesday January 13, 2016 @12:02PM (#10895716)

There's a difference between - "I am paying you with ACH routing and account information" and "The payment platform exposes, to the app, my account balances". A huge difference.

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Re:Stripe now supports ACH payments by rwmurrayVT on Tuesday January 12, 2016 @05:36PM (#10890947)

No. Plaid does it all in the back end and issues the merchant a "Pass"/"Fail" on verification.

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