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…
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
Archive.org link, in German only , translates to
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