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Wesabe - $$ website

Has anyone heard anything about or used the wesabe website?
https://www.wesabe.com/

It looks interesting... I want to try it out... But am wary about the security or potential fraud-scamminess of this site.

Thanks.

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( 2 comments — Leave a comment )
zoefiabear
Oct. 4th, 2007 05:46 pm (UTC)
The Privacy Policy doesn't look very reassuring...
(Anonymous)
Oct. 4th, 2007 09:02 pm (UTC)
Hey - from Wesabe
Hey, I'm one of the founders of Wesabe. You're right to be concerned about security -- for financial web sites, obviously it's very important to get right.

We've done a number of things to try to make the site secure and private while still making it useful.

First, we *never* require you to enter your bank username, password, or account number anywhere on our site. Instead, we give you a small program called the Wesabe Uploader, which keeps your passwords on your own computer, and automatically gets your data from your bank for you. Before uploading your data to Wesabe, the Uploader strips out your account number so that only your transaction information ever makes it to the site. We're the only site that offers this feature, and we think it's far better than asking you to put your bank passwords into some new startup's site, as other companies do.

Second, of course your transaction data is sensitive, too. Because we know we're asking for a lot of trust, we spell out a "Data Bill of Rights" that guarantees you control over your data. The full list is here:

http://www.wesabe.com/page/security

One of the most important rights we guarantee is that you can completely delete your data from our site at any time. If you try Wesabe and decide you don't like it, you can always back out and delete everything without question. Some other companies can't offer this promise since they use third-party services that will keep your data even if you decide to resign.

Finally, we get reviewed pretty much every week in a lot of well-known publications. This month we're in Money magazine and Esquire (which picked us as #65 on their annual "Hot 100" list). We've also recently been in Kiplinger's, MacWorld, Newsweek, The Wall St. Journal, The New York Times, and many more. You can see links to a lot of these articles on http://blog.wesabe.com. Every one of those publications has checked us out, sometimes *very* thoroughly, before writing about us.

I agree with the other comment that our privacy policy needs updating. I'm working on that right now as one of my main projects. That said, I think that our Data Bill of Rights gives you a lot of control over the privacy and security of your data, and was intentionally written to be very broad so that there would be no room for "loopholes" or misunderstandings.

Thanks a lot for checking us out, and I hope this helps. Feel free to drop me a line at marc at wesabe.com if you have any other questions or concerns. You can also call our CEO, Jason Knight, every day from 12-4p Pacific -- a system we set up because we knew that we were asking people for a lot of trust. You can reach him at (800) 511-8544.

Thanks again.

Marc Hedlund, Wesabe
( 2 comments — Leave a comment )

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