You can still do a manual deposit by just doing a bank transfer with the correct reference number
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Exactly Eden. They use the Open Banking System.
I spotted it in the signup process. Here is a screen shot of the specific detail.
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Or people have, and they have no concerns?
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But you canāt get your funds back out, which is a bit of a limitation.
I can top up with Apple Pay if I want to.
Your title says on behalf of freetrade. Suggesting they are doing it FOR freetrade.
Not harvesting freetrade usersā information for TrueLayerās gain
You should amend your title
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So itās a good question, and maybe some of the wording has rubbed people the wrong way however Iād suggest people drop that and focus on the best argument being made.
Which is why are all these permissions being requested?
Itās a good question, as it doesnāt seem to be needed to make topups (I just made one and truelayer doesnāt have third party access to my bank anymore)
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Why not? it just goes to your linked bank account that you added when you first signed up
I donāt have a linked bank account Dave, thatās the problem.
You cannot link a bank account without submitting to the demands of TrueLayer.
If I were an unkind person, I may suggest that itās becoming increasingly clear that youāre here only to make trouble/are a troll, or simply assuming the worst without any evidence. While these angry posts are amusing, you could be eating a massive bowl of crow or even sued for alleging such serious things and being incorrect. It is possible that youāre right, but that assumption would require Freetrade, Trading 212 and many other companies to be totally incompetent when choosing a malicious partner whoās not even trying to hide this allegedly dodgy behaviour.
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OK, I canāt remember what I had to do as itās a couple of years since I signed up.
It does seem like those permissions are unnecessary. Pretty sure under GDPR rules you should be able to find out what they are using it for
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Whatever his intentions are, itās still a valid point. They should only request permission for things they intend to use. I think only the last one has any legitimate use - to make sure that the requested payment was delivered, because that can be used to track down any issues if a payment is claimed as not arrived.
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If I were an unkind person I would say you have clearly missed the point or donāt care about sharing the data I mentioned to all and sundry. I came here to start a discussion and to see if others were aware or bothered by it. Itās the question in the first post.
I have the evidence, I have explained it at length and shared the screen grab.
If you donāt have anything constructive may I respectfully suggest you scroll on by.
We should keep it focused on the actual issue not nit picking over wording.
The issue is the excessive permissions being asked and we donāt know why. Which I think is a perfectly legitimate question and concern to have.
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Iām sure lawyers ānitpickā over wording. The post title - before I edited it to sound less extreme and aggressive - is pretty clear about what this person thinks. Allegations are being made. Itās as simple as that.
Just to show an example. Freetrade/truelayer no longer have access as a third party to my account. So Iāve no idea what they use all the permissions forā¦ confirming the account maybe (name etc.) but Iām not sure all those permissions are needed for that
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People worry and sometimes jump to conclusions, attacking them on it and trying to delegitimise the essence of the question isnāt helpful.
Principal of Charty applies, we know whatās being asked despite the poor wording.
Iāve never connected TrueLayer in the Freetrade app but I have a linked bank account, although my account is old.
Anyway when I click Top Up, then Instant Bank Transfer, and then I can scroll to the bottom which says āCanāt find your Bank? Top up by manual transferā.
Do you have that option? Does it then provide an alternative method to link your Bank account?
The other thing you could do is authorise the account, then deauthorise it.
Ideally TrueLayer should provide an option to deselect permissions you are not happy to share, then expect the app requesting the connection to fail or carry on gracefully.
Final thought, I wonder how many people drop off in the sign up process when they encounter thisā¦
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I donāt actually think it is trolling or malicious to raise the question, itās a fair concern to have and up to each person how seriously they want to take their data privacy.
But ultimately all you can do is:
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contact TrueLayer and ask them why they need these permissions
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contact Freetrade and ask them if they know why those perms are required
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find another broker that doesnāt use TrueLayer
My guess, could be totally wrong, is that the permission groupings arenāt granular enough so to access a point of data they do need they have to request a far more broad permissions set.
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FWIW, Iāve only been on FT for about a month and a half. I just checked my bank account, and in the open banking section I have no active or inactive authorisations for anything. Iād expect previously used things to appear as inactive (but this is my first experience of Open Banking), so maybe they never even actually requested these at all.
On that basis, people would rarely - if ever - be challenged for their tone or trollish behaviour. Accepting and being tolerant is fine and good, but this personās post title and content was extremely aggressive and alleged seriously bad behaviour. With the only evidence being a screenshot. Theyāre assuming the worst of those permissions and didnāt come here with a post that said āIād like to have an open discussionā. They came here with their very first post being alleging not only shady data collection with a view to sell it, but on behalf of Freetrade.
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