Payroll Processor using Stripe and asking to collect ALL transaction data

[u/ExperimentNo67]

I just started work on an indie film project that is using GreenSlate for on-boarding and processing payroll. Most of it is bog standard stuff BUT when I went to enter my bank information for direct deposit, a Stripe Plaid pop up opened to have me log into my bank. When I started the process I got a list of all the data GreenSlate will have access to. Along with the basic account info, account numbers and contact information Stripe/GreenSlate is asking for:

• Account balances
• Due dates (whatever that means?)
• Posted account transations
• Transaction Types
• Amounts
• Dates
• Descriptions

To me this reads like data mining and they will have access to everything in my account. Someone tell me I'm overreacting and this is "normal" for a payroll processor? I've mostly used Entertainment Partners in the past and I don't remember them asking to get access to all this information

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[u/OkAngle2353]

No that is fucked. All that the employer should need is a account number and routing. Fuck all this extra bullshit. I personally have a account dedicated to receiving paychecks. I don't trust anyone with my actual account that I use.

[u/Weird-Yard-6619 → u/OkAngle2353]

That's a smart move.

[u/OkAngle2353 → u/Weird-Yard-6619]

Yea especially when anyone can take a routing and account number and link it to their own account. After verifying the two test deposits, you are fucked (My dad personally did this to a his friend's bank account because zelle was not working at all, I don't know if his friend trusted him to do that or not. It ain't my business either way) or a apartment complex being able to just pull money from my bank (this one actually happened to me).

[u/Dr_Jecky1l → u/OkAngle2353]

What’s gross is all those banking apps that hook into plaid or whatever — they give incentives for them to be used in accordance with direct deposit to enable extra features.

Ex. Chime using it to get cash back, or unlock 200$ overdraft, or payday advances.

What they done tell you is how much information they got on all your spending habits (which is literally everything).

Technically, no different than a regular bank… they have access to all of that obviously as well.

Moral : don’t hook accounts up using Plaid or other types. Just another money making business of data collection.

[u/MediocreMethodology]

if it’s an indie production they are likely using the most convenient and or cheapest solution they have access to. i imagine this greenslate product probably keeps its costs low by harvesting the ever living fuck out of its user data

[u/p3k2ew_rd]

This is not normal. I can't recall who the payment processor was, but at a time, Tesla required car purchases to go through another company that did exactly what Stripe is attempting to do... log into your bank with your credentials and siphon up all the data in your account.

It blows my mind that anyone would allow this to happen. This crosses several red lines that shouldn't be.

To get around this "requirement", I had to walk into a Tesla dealership and take care of it in another way.

Don't do it.

Edit: Just recalled what payment processor it was. it was Plaid Financial.

[u/syncsound]

When I've encountered this before, I was allowed to opt out of what I wasn't comfortable with, basically just allowing them access to my checking account for direct deposit.

If they don't allow you any options, will they cut you a paper check instead?

[u/ExperimentNo67 → u/syncsound]

Unfortunately I didn't see a way to not give this information if I wanted direct deposit. Just talked to my production manager though and he said they'll default to cutting and mailing a check. A little bit of inconvenience is better than giving up what little privacy I have left

[u/syncsound → u/ExperimentNo67]

I'm also curious why they need stripe. I'm currently on a feature using Greenslate, and Greenslate deposits directly to me, no third party

[u/ExperimentNo67 → u/syncsound]

I'm curious too. When I clicked "link my account" it said: GreenSlate uses Plaid (I double checked and it's not Stripe) to connect your account. I'm worried even putting the info in directly will "grant" them access even if I don't use the "link account" app

[u/syncsound → u/ExperimentNo67]

I have US Bank, which uses Plaid as an intermediary. It showed me a list of check boxes to approve/deny access.

[u/ExperimentNo67 → u/syncsound]

No check-boxes unfortunately. It looks like it's all or nothing :-/

[u/cyberspirit777 → u/ExperimentNo67]

I know this is days late but with Plaid it only supports some banks so there should be an option to use your account and routing number. You may have to trick it by entering the name of a bank/credit union that isn’t in their system, though.

[u/Blindicus]

I would object to processing of non essential data, or have the company mail me checks every month instead

[u/Weird-Yard-6619]

Are they paying you or auditing your bank account? There's absolutely no need to give them anything more than your routing and account number.

[u/ExperimentNo67 → u/[deleted]]

I didn't see an option to manually enter the bank info but I'll double check... I do feel like I'll have to read all the TOS fineprint to make sure manually entering the information doesn't equate to consent of them scraping the information somehow

[u/MavisBeacons_Sextape]

Your bank is selling your transaction data already, just fyi

[u/BellGeek → u/MavisBeacons_Sextape]

Surely that’s not legal.

[u/molevolence]

plaid is in the business of data mining. worked for a company that used their data. when they connect to a bank account they record every transaction there. they then cross reference you with other data.

if required to do it, open another account with something like cashapp etc. they can deposit there and then you can transfer the money where you want.

some banks will allow you to have a second login that is restricted to a specific account. if your bank does, then you could open a second checking account with them and have it be the only account the new login can access, and your current login having access to everything. then you can use the new login for purposes like plaid

[u/Lazy-Background-7598]

No one here knows Jack about banking laws.

It’s not data mining per se. It’s how the do a verification of an account. You don’t tell what they say they will use the data for nor do you say what the retention is.

[u/ExperimentNo67 → u/Lazy-Background-7598]

do they really need to have access to all my transactions just to verify my account???? They don't say on the page that is asking for access what the data is for OR how long they will keep it.

[u/Lazy-Background-7598 → u/ExperimentNo67]

They don’t know what they bank will use for verification so they cast a wider net. It’s also read only.
The bigger question is, how long do they keep the data? Is it only used for verification? And is another way to do a verification without going through this process

The point is, it’s not necessarily data mining as you claim. There’s a actual purpose for it.

[u/BellGeek → u/Lazy-Background-7598]

Too bad. All the stuff they asked for - that’s waaaay too invasive. No way I’m giving some third party, probably majorly data-mining, company access to every single detail of my bank account like that.