231–240 of 333 posts
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Both Bank of America and Wells Fargo do technically have APIs, though they're limited in scope to corporate accounts for treasury purposes. I've applied for access to both and both declined to even a sandbox account.
Think what you want about the EU, but sometimes they have good initiatives. https://www.eu-startups.com/2019/09/open-banking-and-what-it...
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This is why I never wanted to use Mint, although maybe Mint is better about this now. I've also seen online mortgage applications ask for banking and retirement account passwords for the purpose of automated form-filling. It seems very shortsighted to give away your password to save 5 minutes filling out a form. The nightmare scenario is that you give your bank account password to one of these screen scraping service…
Mint used to sync with Chase and Wells Fargo through sketchy scraping, but those banks have since then integrated with Mint over APIs. Mint then disabled syncing until customers reestablished the connection with the new, more secure, method (which I thought was a good move)
I learned about it by working in gambling. I cannot believe that people are OK with just giving their online banking details to a company. It's insane! but people are willing to use it because there is almost no other way of getting the product they want.
Take the legislative risk out of handling those types of transactions, and shit like this will disappear.
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> No offense to Visa, but I don't think of them as the most innovative organization Visa is a $434B company. I guess "innovative" is subjective but their valuation trajectory has looked like a high growth tech co over the past 5 years.
That's kind of a weird thing, like my mental picture of Visa is indeed that they're a bit stodgy and behind the times. But then the other part of me says that I clearly have no clue what I'm talking about, there's basically no chance they could stay relevant this long without being on top of it at some meaningful level. And potential quasi monopoly status doesn't quite capture it. So much of finance has been disrupte…
Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
A few of my friends were talking about Plaid the other day, and I told them I like the company/product, but "many people on HN hate it." They were perplexed and when I explained it was because you guys were nervous about entering your bank password into a third-party (yet reputable) company's interface (that's encrypted), they wrote it off as "being paranoid." Can't say I disagree...
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The IPO is a taxable event. You’re taxed at the IPO price, and your company should withhold shares based on that price. After whatever lockup you have some fraction of shares remaining. When you sell those and if the price is greater than the IPO price then you have capital gains on whatever shares you still hold. You still owe tax from the IPO. My point is the company will withhold shares from you, but you might nee…
The IPO is not a taxable event.
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I was taxed at the time of my grant, and then again on the gain when I sell. Had I put them in a self directed IRA i could have bypassed 6 figures of cap gains tax.
You can’t contribute in-kind to an IRA.
Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
Every time Plaid is mentioned on HN, people want to hate. My take is: don't use it if you're scared ? A few of my friends were talking about Plaid the other day, and I told them I like the company/product, but "many people on HN hate it." They were perplexed and when I explained it was because you guys were nervous about entering your bank password into a third-party (yet reputable) company's interface (that's encryp…
My problem with these services is not that I don't trust them - I know how bad banking IT is, they can't be much worse. What bothers me, is that they teach users that it's okay to enter your credentials into third party sites, a recipe for disaster.
Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
Every time Plaid is mentioned on HN, people want to hate. My take is: don't use it if you're scared ? A few of my friends were talking about Plaid the other day, and I told them I like the company/product, but "many people on HN hate it." They were perplexed and when I explained it was because you guys were nervous about entering your bank password into a third-party (yet reputable) company's interface (that's encryp…
It is probably the one thing you can do today that will at some point cause you lose money from your bank account.
It is not even paranoid. It's a bad idea to leave your bank access codes with someone else.
The less people understand how things work the more likely they are to trust it. This just opens up a new avenue for exploitation.