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  1. #1
    Join Date
    Mar 2004
    Posts
    40

    Question Is it safe to give away so much information?

    Hi.
    Thinking about registering a account with paysystems, but in the last step of the registration I had to give the following information:

    -Photocopy Picture ID (driver's license or passport)
    -Photocopy void check or bank statement (business or personal account). Make sure the document has your name on it.

    If I send this application, they have the following thing from me.

    1. My signature
    2. My drivers license with my sosial sec. number on it.
    3. My picture
    4. My bank statement

    When someone have this vital information, they could do just about anything. They could claim to be me in several situations, and even make loans with this info.

    Or is this just usual? am I paranoid?
    (Well, I have to be paranoid, because I've just read an article about that in the local newspaper, and the victim couldn't do anything to prevent it happening again and again).

    I just find it unusual for them to request so much information if they're only going to send checks by air mail to me.

    Or am I wrong?

    In advance, thanks

  2. #2
    Yes and how would they track a person down if someone decided to screw then for thousands of dollars.

    Remeber that they are effectivly loaning you the money from a card transaction and thats it actually Credit for you. They will still have expsure to any card transaction long after you've been paid. If things go bad at least they know who to chase.

    G

  3. #3
    Join Date
    Feb 2004
    Location
    Southern California
    Posts
    749

  4. #4
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,379
    You will always want to limit who you send that kind of information to... and always ask WHO will actually be handling it once it arrives and HOW it will be dealt with.

    3rd Party Processors as well as true Merchant Account Processors limit their risk and exposure to fraud by requesting documents to help verify that YOU really -are- YOU.

    This is one of the first lines of defense against losses due to merchant-perpetrated fraud, and the harder you make it to get past it - the more apt crooks will be to go somewhere else.

    So I'm not surprised that they are asking for that information as it is one of the most important ways that they can protect their business.
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  5. #5
    In general be careful who you give this information to, but if paysystems did these "bad" things with your info I think 1/4 of WHT would have been hit by now

    Derrick
    ResellerEdge.com - High Quality Reseller/ Multiple Domain Hosting.

  6. #6
    Join Date
    Mar 2004
    Posts
    40
    Yeah... The more I think about it, the more it makes sense.

    Guess I'll have to trust them

  7. #7
    Join Date
    Jun 2001
    Location
    Partizansk, Russia
    Posts
    74
    Originally posted by IceKickz
    Yeah... The more I think about it, the more it makes sense.

    Guess I'll have to trust them
    Welll... it might be offtopic, but... can somebody there trust Ikobo?

    Is it safe to give my personal information to Ikobo?

    And one more question: mypaysystems - who used them? Do I have to send them my info too?
    Regards,
    SAV

  8. #8
    Join Date
    Jun 2001
    Posts
    1,239
    Originally posted by sav
    Welll... it might be offtopic, but... can somebody there trust Ikobo?

    Is it safe to give my personal information to Ikobo?

    And one more question: mypaysystems - who used them? Do I have to send them my info too?
    Might be better to start a new topic for the ikobo info or do a search for it.
    TradeViceroy

  9. #9
    I sent all my personal information to Paysystems once, and then they promptly lost it all and expected me to send it all again.

    Needless to see I wouldn't have trusted them handling my money if they can't even handle the sign up process without losing my confidential personal information...

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