Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Stripe Financial Connections

stripe.com

Post reply on HN
Print view View original

221–230 of 263 posts

Re: Stripe Financial Connections

#221

Post by astrange »

chrisseaton wrote: post #43
vageli wrote: post #41

Earlier quoted context omitted.

> In the US your public bank account number is effectively a password to debit your account! There’s literally no authorisation at all! Don't you also need the routing number? How does this differ in other countries or anywhere that checks are used?

Yes the public account number and routing number. Which are printed on my card, statements, might be read out loud, etc. My bank in the UK would not let you debit my account with just the numbers. I’d need to authorise it. How do you stop people debiting your account with whatever they want?

Part fraud controls (which don't necessarily work), part being able to undo transactions.

Being able to undo mistakes means far more than anything else; it means it's permanently superior to all ""web3"" tech no matter how much fancier they may make that look.

Re: Stripe Financial Connections

#222

Post by astrange »

websap wrote: post #202
astrange wrote: post #198

Earlier quoted context omitted.

Capital One does, but for some reason the connection process breaks if I have an ad blocker enabled even if I whitelist their domain. Chase does at least for credit cards. Betterment has app passwords, which is better than using your full password.

Really happy Betterment implemented this. Hoping they’ll soon have some actions based Auth as well.

Unfortunately I did something wrong with a Betterment connection last week that caused them to lock my account for hacking attempts, until I call them, and their EST support hours are only in times I'm in meetings in PST so far…

but at least I don't use their checking feature, which they're oddly excited about despite it having no advantage over other banks and no possible way it ever could have an advantage.

Re: Stripe Financial Connections

#223

Post by samirsd »

bspear wrote: post #162
edwinarbus wrote: post #55

Earlier quoted context omitted.

Edwin from Stripe here. Stripe does integrate directly with banks. In our beta period, most volume we’ve seen has been over bank APIs. Some banks do not have APIs—we use financial partners to connect with them, and we’re talking with many banks in hopes that they will enable direct API access soon. Our pricing is upfront: https://stripe.com/en-us/financial-connections#pricing . We’ve worked with a large beta group of…

Gotta love this spicy thread

ditto

Re: Stripe Financial Connections

#224

Post by gamblor956 »

lsh123 wrote: post #217
gamblor956 wrote: post #213

Earlier quoted context omitted.

Based on my experience interviewing with Stripe a few years ago, I wouldn't doubt that Stripe is capable of the kind of behavior they are accused of.

+1 A couple years ago Stripe reached out to me saying they like my background and that they want to discuss potential roles. I was working on a payments product at a FAANG company at that moment and was starting to think it’s time to do something else. So I said I am interested. Stripe scheduled an interview with Q… J… (Eng Director at Stripe). After a few generic questions about my past experiences, Stripe’s Q… J… a…

I signed an NDA before my interview so I can't go into details but my experience was a lot like yours.

Re: Stripe Financial Connections

#225

Post by confounded »

astrange wrote: post #222
websap wrote: post #202

Earlier quoted context omitted.

Really happy Betterment implemented this. Hoping they’ll soon have some actions based Auth as well.

Unfortunately I did something wrong with a Betterment connection last week that caused them to lock my account for hacking attempts, until I call them, and their EST support hours are only in times I'm in meetings in PST so far… but at least I don't use their checking feature, which they're oddly excited about despite it having no advantage over other banks and no possible way it ever could have an advantage.

I got blocked as fraudulent and banned before I could even transfer my savings in to Betterment. (No problems with Wealthfront, and now a happyish customer).

Re: Stripe Financial Connections

#226

Post by cliftonc »

Tijdreiziger wrote: post #167
withinboredom wrote: post #165

Earlier quoted context omitted.

I use Bunq here in the NL. I wish all banks would steal their APIs. The abilities I have as a dev are simply amazing. https://doc.bunq.com/

Bunq seems like a… suboptimal bank, though. They cost ~5x more than other NL banks, and by all accounts, their customer support is streets behind. Their API and app-centric approach seem to be the only upshots, and even then, other banks have relatively good apps these days.

I am a very happy Bunq customer for 4+ years, and as a user of other Dutch banks (for a mortgage - ABN amro, in the past UK banks like FD), their overall service levels great - if I chat via the app I have always been helped quickly, flexibility with accounts, cards, automation via the APIs etc is absolutely worth the price hike. These are things I am happy to pay a few extra cups of coffee a month for as they make my life with an extended family much easier to manage day to day.

Re: Stripe Financial Connections

#227

Post by [deleted] »

phoenixy1 wrote: post #73
emrekzd wrote: post #45

Earlier quoted context omitted.

Unlike Plaid, Finicity and Yodlee have direct integrations with some banks. Example: Silicon Valley Bank has direct integration with Finicity. SVB through Plaid breaks quickly (because they require some weird 2fa policy). Let me know if I'm missing something but if Stripe is A) providing reliable connection to common banks Plaid misses and B) saving it's users from all the headaches of integrating with old school ser…

Plaid has direct integrations with many banks too -- Silicon Valley Bank is actually a Plaid partner for ACH processing (see https://www.svb.com/news/company-news/silicon-valley-bank-an... ). Not sure when your bad experience with 2fa was but Plaid's connection to SVB has improved over the past ~6 months as we've begun to work together more closely and should continue to do so. [I work at Plaid]

[deleted]

Re: Stripe Financial Connections

#228

Post by bluecrab »

aaaaaaaaata wrote: post #201
amonroe369 wrote: post #141

Earlier quoted context omitted.

fair criticism. My points remain. Having talked to Plaid's sales team, not bad people. I just don't trust providers that openly talk poorly of competitors and plaids sales team did that and the CEO of the company is doing it in public.

You haven't read many Stripe stories, huh

There aren't that many. Bolt does not count.

Re: Stripe Financial Connections

#229

Post by jjeaff »

lbotos wrote: post #81
thekyle wrote: post #68

Earlier quoted context omitted.

I know that Charles Schwab has some sort of OAuth flow which I used when connecting my account to TurboTax this year.

So, I got very excited about this, but it seems that banks are expecting "bank integrator" aka companies, and not giving access to end users :( If any knows of a bank that has API access in the US do share!

Mercury Bank has nice, friendly APIs. I believe they only do business bank accounts, though.

But I think I remember seeing that some of Capital One's bank account offerings have some customer facing apis.

Re: Stripe Financial Connections

#230

Post by rapnie »

cliftonc wrote: post #226
Tijdreiziger wrote: post #167

Earlier quoted context omitted.

Bunq seems like a… suboptimal bank, though. They cost ~5x more than other NL banks, and by all accounts, their customer support is streets behind. Their API and app-centric approach seem to be the only upshots, and even then, other banks have relatively good apps these days.

I am a very happy Bunq customer for 4+ years, and as a user of other Dutch banks (for a mortgage - ABN amro, in the past UK banks like FD), their overall service levels great - if I chat via the app I have always been helped quickly, flexibility with accounts, cards, automation via the APIs etc is absolutely worth the price hike. These are things I am happy to pay a few extra cups of coffee a month for as they make m…

Good service levels will be a real USP, I expect. In the Netherlands where physical banks are a dying breed (especially those that deal with money. Aforementioned ABN Amro doesn't let you change a 100 Euro bill into 2 fifty bills, for instance). Especially the elderly are lost in the digital world and need guidance. For my parents for instance, every website is like a completely different app they need to learn how to use and with layouts changing all the time this is an enormous struggle to them.

I hate the fact that physical banks (and cash) are disappearing. I don't have complicated needs as to the digital services I consume, same as many other people. Then online banks become indistinguishable from the next, and it is ability to contact real people that sets them apart.

Post reply on HN