J
jbcarioca
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I was indeed remiss not to add that detail. At Schwab I can set to reject all OFX, as I do now. Some banks make that easy, usually in something called ‘security center’ or something similar. I still will change the password too.Changing your credentials won't remove Plaid's access to your account if your bank supports OAuth. As I've already said, in that case they never see them in the first place. You would have to go into your settings on your banking site and find the authorization for Plaid and revoke it. That will invalidate their keys for access. How this is done, how easy it is find, and even the terminology they use will vary by bank unfortunately.
I was also remiss not to mention disabling OFX, of which Plaid is a member. Account aggregators almost all use OFX also, which I do not employ.
I should add that enabling Plaid at Tesla enables Tesla to make other charges than the purchase one authorizes in accordance with the ‘Tesla policy’. Protesting a debit can be lengthy (as in the cases where Tesla charged a purchase twice.
To be sure, the same risk happens with the credit card used for Supercharger and Tesla store. in those cases you can protest the charge through your credit card issuer. The card issuer gives immediate credit after the protest, holding the charges in a suspense account until resolution. That is much less onerous than is fighting to get back money from a merchant directly (e.g. Tesla). Almost all automatic debit to credit cards or bank accounts uses OFX. Many, but not all, banks make protesting an aromatic debit possible. Few follow the same process they are forced to use with bank cards, including both credit and debit, as long as the cards are issued under Visa, MasterCard, Discover (MasterCard process) or American Express. That is why autopay for cards presents less cash flow risk than does OFX (e.g. Plaid) with bank deposit accounts.
Most of this applies throughout the EU, and many other countries. The credit card procedures apply identically worldwide for all global brands, including ChinaUnionPay and JCB. The descriptions do vary country by country.
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