How third party gain access to our personal bank account transaction details

maskabun · 21-01-2013 10:34PM #1

Guys,

I came across a popular iPhone app to track personal finance called Mint. We just feed our credit card number and that's it, the app retrieves all our past transactions and sort out in different exepense categories.

I wonder how could such app gain access to our personal finance I mean is there any judicial law under which Bank could reveal such confidential information to such companies?

Thanks

highlandseoghan · 21-01-2013 10:44PM

It gains access to your accounts because it looks for your online bank login details. So it then gets up all your account info that can be viewed online and seems to arrange it into helping you to view all your info.

25-01-2013 03:11PM

Personally I would be very wary giving such information to an app, especially one that doesn't come from the bank itself.

BuffyBot · 25-01-2013 06:29PM

I wonder how could such app gain access to our personal finance I mean is there any judicial law under which Bank could reveal such confidential information to such companies?

It gains access because the user provides the information to enable it to do so. That's how. The app is but a tool.

It's no different than me giving my online banking details to a friend, and asking them to log-in. The bank isn't revealing anything or breaking any law, because the credentials have been provided by the user.

How third party gain access to our personal bank account transaction details

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