I've done a fair amount of bank shops, at institutions where I don't have accounts. I haven't opened accounts at banks in order to shop them.

Information, please? The MSP, presumably based on my profile, has asked permission to share my information with the bank. The bank has asked the MSP 'to confirm that we have shoppers who hold personal checking accounts at their bank. Our client would like to compare shopper information with their database to verify the number of registered shoppers who have accounts with them. This is a large, national and ongoing project and should you be an account holder, and should this project move forward, you will potentially be eligible for several monthly shops throughout the year.'

There's a lot of shoulds. Do I want the bank to know, prior to a project, that I'm a shopper?

I can understand that the bank would want to know that indeed potential shoppers are account holders and it disturbs me that somehow the MSP is kowtowing to this request. Personally I distrust this MSP's business judgement after some of their shops over the past year or two so I haven't shopped for them in that period of time. I am ignoring the request, which according to the email is to be interpreted as a denial of permission to share my information.

On a broader, philosophical level, I think it is inappropriate for an MSP to agree to anything more than demographics for the shoppers they authorize to go in. Client needs to define their target--hermaphrodite with 3 eyes and attennae over the age of 120--and MSP should provide if there are any in their data base willing to perform the work for the fee offered.

Mert Wrote:
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>>>>>>> Do I want the bank to
> know, prior to a project, that I'm a shopper?<<<<<<

NO. No NO NO

Why should a bank know and care where your money come from. If you were funding a radical organization they would take your money from you. and not give it back.


Banks are making my matteress look more and more friendly each day

My opinion is no, this is not Kosher. They don't have the right to know your personal banking information. I don't like the fact that these companies know who we are, that's why mystery is the first word in mystery shopping.

I agree with the others. I do not feel this is acceptable. It is one thing for the MSP to ask you what banks you have accounts with. And then, based on your answer, to offer you shops based on where you have accounts. It is another thing entirely for them to share your personal information with their client with the goal of figuring out who has accounts with the client and who does not.

I am shocked that they would even ask and think that people would be okay with this (and I too got the email). Although on the other hand, it should not really surprise me though, given the previous string of shop offers that promise really high fees (yea right - sarcasm here) because they know that their "shop" is going to cause a hit on your beacon (credit score).

MickeyB Wrote:
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> I agree with the others. I do not feel this is
> acceptable. It is one thing for the MSP to ask
> you what banks you have accounts with. And then,
> based on your answer, to offer you shops based on
> where you have accounts. It is another thing
> entirely for them to share your personal
> information with their client with the goal of
> figuring out who has accounts with the client and
> who does not.
>
> I am shocked that they would even ask and think
> that people would be okay with this (and I too got
> the email). Although on the other hand, it should
> not really surprise me though, given the previous
> string of shop offers that promise really high
> fees (yea right - sarcasm here) because they know
> that their "shop" is going to cause a hit on your
> beacon (credit score).


I agree. I opted out. No one needs to know this info at the clent level.

Clients knowing who is shopping? Nope. Not happening here.

I recently refused a high banking bank shop. The mystery shop company actually wanted me to let a client view by bank account by providing a screen shot, to see if I was acceptable and then to actually have remote control of my computer, while I viewed by account. When I refused another shopper in my area readily accepted this shop.

Yes, there are shops that come up from time to time that don't feel right. Most frequently they seem to be wanting access to an online utility account under the guise of the programmers want to check that it is functioning well. Baloney. Programmers would be able to set up dummy accounts to check for function. Spying on someone else's on site presence seems to me what is going on and I'm not sure I care to be a part of that. And while that may not be much of a stretch from a competitor shop, I also tend to be a bit cautious about competitor shops as well.

After reading advice from shopper friends, I didn't do the screen shot spying shop, either. A nice fee was offered initially, and was bonused before it left the board.

As for bank shops where the shopper has an account, that relationship is proven with a deposit/withdrawal slip. I would think the client would have the electronic smarts to determine the shopper's identity, if wanted. Similar would be retail shops where membership cards are used and identifiers are on receipts. These should not be visible to the location, but may be to the client.

But, the MSP seeking permission to share shopper identity with a "potential banking client" feels like shoppers are being used as bait to land an account. It rubs me the wrong way.

I smudge out my account number and transaction amount. I encourage EVERYONE to do this when submitting bank receipts to the MSP.

And any MSP that wants to provide my personal information to the bank and have the bank "approve" me - uh, no thank you. I turned that one down.

Another MSP told me that she had to verify with the bank -- prior to accepting me as a shopper -- that I had my very own bank account at that financial institution. I turned that one down too.

There's just something wrong with MSP and Banks getting together to share MY personal information and make decisions about my employment based on what they see.

Just my two cents.

I closed two bank accounts that I used just to be a cusomer for MS purposes. Each had sent a letter stating that they would no longer be free in 2011 unless I did direct deposit or maintained a high balance.

It looks like all banks are getting rid of unrestricted free checking, even for senoirs. That will mean the MSCs and their bank clients are going to have to reconsider how they design their teller shops, for certain.

I got that same letter Walesmaven. I too will be closing the account. us in the banking world (some of whom used to work for the large bank that this new even larger bank took over) are seeing this as a HUGE opportunity for smaller community banks/credit unions to gain new members/customers.

One of the things that this stemmed from is the change in courtesy pay (payment of overdrafts and then charging large fees like $25 or $30 irregardless of the amount of the overdraft) and the requirement that people have to 'opt-in' to the program as of July 1st. So many people did not opt in and now formally profitable accounts are unprofitable.

It used to be a strategy of banks to get as many checking accounts as possible because although there is no money to be made in overnight trading (which is all the bank can do on demand account - they cannot lock up the money and earn on it) in today's interest rate enviornment, they could really clean up on the 10-20% of customers who would regularly overdraft and pay high fees in this. Now that this is over, all of the many checking accounts are unprofitable to the bank and they will just fee us out.

I do see this being a trend for the larger banks - but believe smaller banks and credit unions will see this as a point of differentation and will continue to offer free checking or even smart checking (high-yield checking accounts that require direct deposit and use of a debit card). Remember that every time you use your debit card, the merchant pays a fee which goes to the bank/credit union (interchange income). This is a small fee that might not matter to larger banks but does to the smaller guys - and this is where I think we will continue to be able to see free checking.

Well I suppose I have droned on about banking enough...