Payment processors asking for usernames and passwords

United States United States
Kudos: 15
Joined: Jan 10, 2019
Payment processors asking for usernames and passwords
10 Jan 2019
I've been shopping around for a new processor for my "high-risk" business and agents from two different companies stated they wanted my username and password for my account with you and my other two "low-risk" processors, which are both active. This sounds absolutely criminal. Have you ever heard of such a thing?

The excuse the last agent gave was:

"Yes, usernames and passwords. Because none of them provide monthly statements, the underwriters need the logins so they can review the accounts."

I feel like I should report these people to FBI-IC3, because not only will they have "unnecssary" access to my entire banking history, which is not relevant to them. They can then commit financial or other crimes in my name. When I complained to the last agent she replied:

"If you don't want to provide your user info, you can create a user account specifically for us that is reports only. We just need to validate sales/refunds/chargebacks"

[Last edited by moderator: Added detail to title — 11 Jan 2019]