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Tuesday, October 26, 2004

Yahoo's PayDirect dies in favour of PayPal

It seems Yahoo's bet in the online banking world has come to an end. I don't know why my mail filter flagged Yahoo's advise mail as spam, so I've just read it their home page.

Here's an excerpt:
We regret to notify you that we are closing the Yahoo! PayDirect from HSBC service, effective November 22, 2004.
You may continue to use your current PayDirect account until November 22, but you will not be able to open any new accounts, nor will you be able to send money to or receive money from a person who is not currently a PayDirect customer. After November 22, 2004, you will not be able to use your account for any new transactions. 'Send money' transactions initiated prior to November 22 will be completed if recipients accept funds within 30 days after send date; thereafter transactions will be canceled. You can still view your account records and withdraw any pending balances until February 15, 2005. After February 15, you can only access your PayDirect account to review past transactions and/or close your account.
The PayDirect service and web site will be completely discontinued on May 15, 2005.

I must say that I have only used their service twice, so it's not a big problem for me, but I wonder what will happen with the personal data they collected about users when they discontinue the service. I suggest every PayDirect user to delete their account using the Yahoo user deletion page so HSBC can't use their data after they discontinue providing the service.

[Escuchando: life vest under your seat - pedro guerra - bolsillos (2:44)]


Anonymous Anonymous said...

that was an eye opener, i didn't appreciate the information in that way beforeeasy money I learned something easy money

5:26 AM


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