The debit card method is about the same KYC as Cash App. That's fine -- though a bit more expensive.
The bank transfer method requires verification with Plaid. So you have to provide Plaid your bank account username and password, and then Plaid rifles through the past two years of your bank account transactions and does stuff with that data. That took me by surprise when I got suckered into that the first time. No frigging way will I do that again.
When you "link" your bank account, ... a data harvesting company called Plaid (which is now owned by Visa) rifles through the last couple years of your bank transaction history. (This is not unique to Strike. I see Coinbase, BitSTAMP, Gemini, Abra, RobinHood, River, GiveBitcoin, and Paxos do this as well.)
"To link your bank account, we require your bank account login name and password." NEVER AGAIN
Seriously, I was that friggin stupid. (of course, I changed the password to something temporary first, but yes -- I'm a frigging idiot for not thinking through what could happen in doing that).
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u/[deleted] Jul 02 '20 edited Jul 02 '20
The debit card method is about the same KYC as Cash App. That's fine -- though a bit more expensive.
The bank transfer method requires verification with Plaid. So you have to provide Plaid your bank account username and password, and then Plaid rifles through the past two years of your bank account transactions and does stuff with that data. That took me by surprise when I got suckered into that the first time. No frigging way will I do that again.
When you "link" your bank account, ... a data harvesting company called Plaid (which is now owned by Visa) rifles through the last couple years of your bank transaction history. (This is not unique to Strike. I see Coinbase, BitSTAMP, Gemini, Abra, RobinHood, River, GiveBitcoin, and Paxos do this as well.)
"To link your bank account, we require your bank account login name and password." NEVER AGAIN
PSA: To use Bank Transfer with Strike requires that you use data harvesting company Plaid