SOFORT quite explicitly ~scraps~ scrapes the entire available transaction history for „your convenience” (much more is available with access login and password actually). What a satisfaction when they tried to enter Polish market and the Polish finance controlling authorities shut them down before they managed to squeek. The famous German „privacy” it is.
They claim it's to see that the customer is liquid enough, so more for the convenience of the seller.
It's incredible that the banks tolerated this service even though they told their customers to not to give their credentials to a 3rd party. Or not just banks, how about the German Federal Office for Information Security.
I wish the bank would just block accounts who they detect used the service with an error like "We think your credentials have been compromised" (then again the stupid customer will think it's the bank who got breached). Or give them a fine of e.g. 100 Euro for breaching their user agreement. Then again, this would lose them so many pissed-off customers.
The idea of handing over my banking password to any third party is crazy. Mind you, I'd love an API that I could use to easily pull all of my banking details into my local system. There are a few ways to do this currently, but nothing simple, open, and standard.
P.S. As you seem to be a non-native English speaker, the word you wanted to use was "scrapes" not "scraps".
