UseMyBank Scary Red Flags

[Dangerous53]

With the recent developments regarding Visa and MC, I know a lot of people are going to be looking for alternate ways to fund their accounts. One they might consider is UseMyBank, so this information should be kept in mind.

I looked into using this method a while ago, and it scared the hell out of me, because you have to give them your bank account LOGIN details so THEY can log into your account and perform the transaction. Now, if someone gets my account details for a casino, what's the worst that can happen? They log in and lose my money, whoopee, I can do that myself in no time flat.

Imagine if someone got hold of your Banking details, whole 'nother story, and it wouldn't end well I imagine. They claim that no information is saved, but we all know how that could end. I didn't even look into the fees because of this. There are also reports of problems using this method, and their CS is lacking. They want to be global, but you can only contact them by phone during business hours, after hours you have to leave a message???????? Reading through some of the FAQ made me laugh as well.

Another thing to consider, and the reason I'm posting this now, is that they are looking for money right about now for "expansion", possibly because of the CC problems. They were featured on

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tonight on CBC, looking to sell 5% of the company for $1M. If they are such a successful payment processor, what do they need the money for? By the way, they didn't get a deal.

Just putting this out there so everyone is informed.

See Related Threads:

• Guts/UseMyBank/Canada?
• Payment Methods - Canada
• Canadians and USEMYBANK
• Usemybank and Canadians

 

[BIGZEDBUD]

I have used them for years and have had no problems. They even gave me a hat and coffee cup.

Concerning "stealing" of account details, anytime you use any method of payment to fund/pay for anything on the internet, you are leaving yourself open to "stealing". No method is 100% sound proof. They are mearly a "portal" to your internet banking.

I watched that last night too. Most likely that was taped last year. I have noticed that "Usemybank" is now poping up in alot of casinos as a fund method. I guess they got the money somewhere else...lol

 

[Jasminebed]

I haven't explored UseMyBank, but if I had to give login details to my account, I would be sure to set up a separate account that I just transfer funds into exclusively for gambling. Might cost you a little more in bank fees, but it would be safer IMO.

 

[marcsudbury]

i used this method for about 6 years now, i just stopped recently because i was spending toomuch, it was too easy. now i use prepaid mastercards, that way i have to g out to buy one when i go broke.

 

[rockycatt]

i have a hobby checking account that i only use for gaming [leave no large sums in it] e w xpress ,poker stars , full tilt gets there's from it after i go to the cashier and tell it to load x amount i haven't had any problems





one time stars processor was derailed and they sent me emails and we settled up about four months later and they had me go to there cashier and start the transaction new again and there were confirms to it
(they dident just go take the 25.00)

its always better to be informed so thank for the post RC

 

[Vegasbum]

I am another who has used this method for years and never had any problems. It is the same method as using your bank card at any store. Instdadebit is my first choice and usemybank is the next