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Wero stores your bank transaction history [Update: Confirmed] (static.weropay.eu)

submitted 4 months ago* (last edited 4 months ago) by PhilLab@feddit.org to c/buyfromeu@feddit.org

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Wero seems promising. But I am confused as it appears they have acess to my bank account's balance and transaction history. The privacy policy (Archive.org) states on page 4

Purpose: Displaying your account information (performance of a contract – art. 6.1.b of GDPR)

Categories of data processed: Balance and transaction history of your payment account

Retention period: Duration of the contract (the Wero General Terms & Conditions)

The term "payment account" is not properly defined in the document, but I would infer from the first line on page 4 that it is the connected bank account.

This would be significantly more invasive than PayPal. Would be a dealbreaker for me, as I don't even see a plausible reason for doing this.

Their FAQ states the contrary:

Wero does not have access to your transactions or any other account activity beyond the information we need to complete a Wero payment.

Again, "information we need" is quite vague...

Update: Wero confirmed

See my comment below, Wero's Data Processing Offices confirmed via email that they do access your bank's transaction history, depending on which implementation mode your bank chose.

Quite invasive, IMHO

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[–] PhilLab@feddit.org 1 points 4 months ago* (last edited 4 months ago)

Thank you for diving deeper into this topic. I see how you come to your conclusion - that would be a relief. However, if payment account is the Wero account, why do they need to store the "type of payment account" (they are not stating "type of payment source").

I also found an FAQ answer of a German bank, Postbank

Hat Wero Zugang zu Informationen über mich und meine Bankverbindung?

Wero kann lediglich Ihren Kontostand und Ihre Wero Zahlungen anzeigen [...]

Archive.org link, in German only , translates to

Does Wero have access to information about me and my bank details?

Wero is only able to display your account balance and your Wero payments [...]

Again, it is not 100% certain, but answering about "account balance" when being asked about bank access does sound like my bank account balance. But it could also be the Wero account balance (if there is such a thing?)

Maybe I am hearing the grass growing here. I do wish Wero to be a success, but it does feel more intermingled with the internals of my bank account than I'd like it to be