I've had a couple people ask me about how legit this offer really is. Since they do ask for SSN and birthdate when signing up. So I did some digging to confirm they are for real. Company has ties to AOL founder, Steve Case. Here are a couple links w/ articles about them.
Article #1 -- Good info about company
Article #2
Article #3
Anyway... there's the scoop folks! And just to leave you hanging... coming soon... armadillo pictures. I told you we are being invaded by Florida creatures. This little guy is creating a nest next to the trash cans. Stay tuned... I'm about to change the name of our blog to Animal Planet.
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3 comments:
This is all very interesting.
However, I really am not comfortable providing them with SSN and birthdate. I keep trying to figure out *why* they would need those 2 pieces of information to transact this kind of business and I just can't come up with one.
Keep us posted on this company, Rachel. Let us know how you like it over the long run.
I'm thinking they use the info to make sure the same person isn't signing up multiple times. But that's just my guess. I'll check the faqs on the website to see if it says why.
Excert from faqs on website to answer common question about ssn & birthdate:
Q. How else does MoneyExchange assure me about its level of security?
A. Our number one priority at Revolution Money is to maintain a high level of security, as we know protecting your financial information is a primary concern when registering with our service.
You might wonder why we ask for certain pieces of information that you may be nervous to share, such as your Social Security Number. We would not ask for any information that was not necessary to enable the security we promise to you. Also, to help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
With identity theft on the rise, we use your Social Security Number to confirm your identity by cross referencing it against other personal data you provide. This way, if someone were to get a hold of your Social Security Number, a MoneyExchange account could not be set up in your name without knowing your other personal information. So, sometimes it may seem as if you have to share more information about yourself, but in the end it actually protects your financial information to an even greater degree.
Finally, we have set limits on adding, sending, and receiving, money to or from your account to help guard against fraud. It’s not that we’re trying to control your spending behavior. We came up with the idea of MoneyExchange because we wanted to make it easier for you to exchange money with others, not to impose limits. But we also have to be concerned about fraud, so we have set up limits on how much money can move between accounts each day to limit the risk that there is any fraudulent behavior. Again, protecting your money is our utmost priority.
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