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I was looking at their application and noticed that they need my person online log on and password details for my bank account so they can monitor it and pay funds in as nesserary. Is this legal and has any one done it. It sounds like an invitation to give all your money and personal information to a random stranger who could use it against you.

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Sorry, can you explain a bit more, I don't understand what you are saying ?

 

Almost certainly you do NOT give your personal log on and password for your bank account to anyone !!

 

If you were to do this and things went pear shaped, any protection afforded you by law / banks would be withdrawn and you would be responsible for any losses !

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1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I would never give those details to anyone. I was looking at loans and I came across this clear account running credit account. They pay you an initial sum then if you agree monitor your bank account and automatically pay additional funds in when you drop to a certain balance. I will never use a service like this but wanted to know other peoples opinions on what I deem a dodgy practice.

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Ah righto, I did have a look at their site and it was not quite "clear" what they were.

 

I cant offer an opinion other than to say steer well clear :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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