Jump to content

CoinOut Is Getting Very Pushy Trying To Get Your Email Passwords


Njsurveyman
 Share

Recommended Posts

CoinOut (which pays a few cents per every receipt you upload) is now limiting folks to only 2 receipts per day unless you connect your email with them requiring you to submit your password to your PRIVATE email! I cannot believe they are getting away with this. It is even a violation of both yahoo and google policies to share your email passwords with anyone, aside from the huge security risk. I did report them to the FTC, so we will see if they take action against them. Meanwhile, Coinout emails are getting more and more aggressive begging users to connect their email with them.  DON'T DO IT!! 

  • Sad 1
Link to comment
Share on other sites

That’s terrible! The absolute gall of them to blatantly do that should be against the law. I’m glad you reported them to the FTC. Maybe contact your state attorney generals office too. I hope CointOut is put out of business for this.

Link to comment
Share on other sites

I looked them up, and they were on Shark Tank three years ago. One of the sharks gave them $250,000.   Apparently the average person makes $3-$5 a month.  I only collected four receipts last week.  They totaled about $50, and so I will pass.  I only spent a total of $23 last week at two grocery stores last week.  I spent $33 at the farmers market.  I don't think it would be worth my while to sign up with them.

I definitely would not give them my email passwords.  

Edited by NFriday
Wanted to add something else.
  • Like 1
Link to comment
Share on other sites

I'm not trying to change anyone's mind here whatsoever but I highly doubt they are collecting email log-ins. What you are doing is logging into your email through a private API. 

Again, not trying to change anyone's mind here but it's the same technology used by banks (Zelle), credit card companies, Venmo, Paypal, CashApp, Stash, etc, etc, etc,.

  • Like 1
Link to comment
Share on other sites

I agree on the technology being used may be somewhat secure, but it is just not a risk worth taking for getting 1-5 cents per receipt. Although they are offering a large bonus of $8 just to connect your email, for me it is not worth the risk since I use my email for very sensitive work stuff too. Also, I use Zelle directly with my bank (not as a separate login), so I think Zelle would be more secure. 

Link to comment
Share on other sites

On 9/16/2021 at 12:08 PM, Njsurveyman said:

so I think Zelle would be more secure.

I believe the Zelle and/or Paypal payment system is what you are linking your CoinOut account to through the API . I don't use CoinOut so I am going by what I read in their TOS. https://www.coinout.com/pages/terms

Quote

You may be required to connect third party accounts, such as your PayPal or Zelle account, in order to receive certain rewards. These requirements may be updated at any time at the sole discretion of Company.

Quote

To claim Rewards, Users must register and/or log into their account on the App. At this time, a User can redeem Rewards within their account and can redeem Rewards for gift cards or cash to a PayPal account or to a Zelle account.

Quote

All Rewards will be redeemed, as directed by the User through the App, to (i) any gift card partner vendor from which the User elects to purchase a gift card; (ii) PayPal; and, (iii) Zelle. We reserve the right to change App functionality and Reward redemption options at any time at the Company’s sole discretion.

I agree though. For only a few dollars it is a pretty big deal to allow third party companies access to your bank/credit account. On the other hand I wish these companies would all start offering Zelle or even CashApp as a payment option. I don't fully trust any of them but year by year I seem to lose a little more trust in Paypal and I think it is time for another option to get paid in cash.

Link to comment
Share on other sites

  • 2 weeks later...

Mnleona, I agree. I will NEVER give a survey company my email password or any bank account info. All any company should need is your paypal email address. If they do not want to use paypal, all they need is your phone number to pay you via Zelle. 

I dropped Coinout completely because they are now requiring people to give them their email passwords to do anything now. I also reported them to the FTC for soliciting email passwords. I suspect they will either go out of business now or be forced to change their policy. They were even holding previous cashouts hostage until an email password was provided. Who does that?? Highly illegal practice.

  • Like 2
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...