Yodlee payment verification issues

[Ericivins]

I’m trying to send a few payments. PayPal has felt the need to verify these payments through yodlee, but can’t connect to the account information. User name and password are correct. I can send payments via my debit card with no issues, and my bank account is verified by PayPal. I’ve tried using a private window, and clearing everything.

[TWalterCO]

I am ready to delete my account and use Venmo

[Bradley101b]

Venmo collects your account transactions too, but it does allow you to send money.

[Randomlootdrop]

It's still PayPal.

[dnjmail]

I'm also having this issue and it is very frustrating.  My two longstanding working bank accounts are verified but it says I can't use them at the moment.  I tried a workaround of adding a different bank account but that also didn't work.  It gives the "We added your new payment method, but you can’t use it right now. To continue, choose or add another way to pay."  There is no indication when you will be able to use your bank to make payments and its been almost a week since I received the error messages.  If you go to search the knowledge base, there isn't a single match for Yodlee so there is no help there either.  So you're left hanging with no indication of when or whether you'll be able to send money.

[BByers2022]

I tried searching Yodlee too and there was nothing. If a third party is being used to verify account information, which has already been verified by PayPal, then it should be searchable for transparency's sake. Something isn't sitting right when this ish happens and no/minimal help is given with the issues many are facing.

[CHJewel]

PayPal uses Yodleee (owned by Evestnet) to access your banking information. Read about the lawsuits against Yodlee and PLEASE consider protecting your assets. https://www.investmentnews.com/envestnet-data-security-lawsuit-196603
At the very least, make sure your banking passwords are at least 17 characters long & change them now!
More articles in August:
https://www.vice.com/en_ca/article/k7q53n/ftc-envestnet-yodlee-class-action-lawsuit

https://www.barrons.com/articles/envestnet-yodlee-face-lawsuit-over-data-collection-51598637224

[jcgriff]

I don't know about you but I'm sick and tired of these companies surreptitiously collecting my data and then monetizing it without my knowledge or consent.  The fact that they disseminate it in clear text is proof they don't care about protecting it, if they did it would be encrypted at the very least. They say it anonymous but the suit says it's easy for the buyer to figure out who you are, not surprising. And if PayPal really cared about protecting you it wouldn't require you to use this. I manually linked a bank account specifically so I didn't have to accept this kind of monitoring of my financials and then when I went to actually use it afterwards they made me consent to using Yoodlee anyway to use friends and family. They say it's to protect from scams and payment denials but that's bull, Paypal is being paid by these guys I'm sure. I won't do it, I'll have to find another payment method. At the very least I'm done with PayPal for anything but goods and services.

[gjb2000]

PayPal is complicit in this. Here is why I think so: I wanted to add a bank to my PayPal account. After selecting the bank, I get a popup saying: "Log in to your online banking to link your account instantly". Before logging in, I read the small print at the bottom: "We use Yodlee to confirm your bank details and to check your balance and transaction as needed, which can help your PayPal payments go through. For more information, see our Privacy Statement. You can turn off our use of Yodlee by removing permissions for this bank in your Profile."

Guess what! There is no such option in my profile and Customer Service confirmed it. So, PayPal is giving you a false sense of privacy. Conclusion: I will not add a new bank account to my PayPal account.

[Temp20230731a]

I have had a Paypal account since 2001, using the same verified bank account the entire time. A week ago, I was prompted to enter my bank credentials in order to send my son money. I don't have an online bank account, as my Paypal account was verified 20 years ago via routing number and account number. After many calls and online chats with Paypal, I'm essentially stuck with the choice of either giving Yodlee credentials to my bank account (which I don't have) or creating another payment method. This is really disappointing and I will look for Paypal alternatives in the future. It is sad when a business you trust eventually requires you to turn over your precious bank login information to a third party that will sell your banking history for a profit.

[MizMolly]

I always use Western Union to send money to my daughter.