Set your own T&Cs on your File.

James · 23 September 2017 at 5:09PM

I believe in making my Credit Files work for me. You can too.

I’ve set my own Terms & Conditions when it comes to applying for financial products and services.(see Link below)

I would like to do the same for my very dear old friend who I have Lasting Power of Attorney for. I wonder how the Credit Reference Agencies will react when I use the system below to protect my bed-ridden friend (the most vulnerable) from ID Theft.

STOP ID Fraud

Will keep you all posted. It will take two to three weeks.

System · 23 September 2017 at 5:49PM

There is a downside to the scheme, however: it could delay genuine credit applications.

No, it is worse than that. They could just decide you're not worth the hassle and not bother which may make things like changing energy supplier or getting car insurance impossible. You'd apply, they'd say they don't offer the option of fingerprint verification and your choice is to either just go with the signature or not use their services.

IAmWales · 23 September 2017 at 6:09PM

That chap in the Guardian is a right oddball.

All he's done is added a CIFAS marker to his credit file. Not particularly unusual, but can certainly create problems when trying to get credit.

Ah, just realised OP is Jamie Jamieson (awesome name, is your son called Jamie Jamiejamiesonsson?), and has had a bee in his bonnet about this for years. There's being careful, and there's being paranoid. This crossed the line long ago.

tenchy · 23 September 2017 at 6:38PM

What a stonking good idea. Following the Guardian article I bet there's already a queue outside Equifax's office.

binaryuniverse · 24 September 2017 at 3:25PM

I can see this slowly being phased in, within the next decade.
We've already got phones with thumb print scanners. If we have ways a website can securely communicate with that hardware, then you can have a link sent by SMS to scan your thumbprint in, and voila! Instant verification.

forgotmyname · 24 September 2017 at 5:20PM

Can you list any companies that have the facilities to check your thumbprint?

Daughter went to an open day for special effects make up artists, they put a gash across her head that looked so real people on the bus kept asking if she was OK as did she need any help.

Im sure they could easily paint you a new thumbprint. Guys that deal with phone security have picked several flaws in the fingerprint scanners so whats special about the system that the OP mentions?

And if they need your bed ridden friends thumbprint to speak to them about the account or your thumbprint. How will they get that over the phone?

Or the scammers just goto the places that do not have thumbprint checks.

Card and cheque fraud went down after the thumbprint scheme. But how many of those transactions were the new fangled chip and pin?

Why did chip and pin win? Because it was better?

meer53 · 24 September 2017 at 5:31PM

So who checks the thumbprint ? It's a ridiculous idea. You can set a password on your credit file, much easier.

JuicyJesus · 24 September 2017 at 5:54PM

Here is how this would likely go down in the bank I used to work for, and in every other bank across the country:

You: Hello I would like this personal loan. You'll need to check my thumbprint somehow, at your risk and cost and completely unlike every other customer you'll ever deal with, because I've put a weird thing on my credit file because I'm very very paranoid but I'm also too cheap to pay for Cifas protective registration like more normal paranoid people.
Them: No, we don't do that and we're not going to. Agree to our terms or you don't get the loan.
You: Oh.

I note that the article doesn't say that the OP has actually managed to successfully apply for credit using this system, or bind anyone to his terms and conditions, or had those terms and conditions actually enforced or indeed confirmed as enforceable, being as it is that a notice of correction is not a legally binding contract in any way, shape or form and the bank is fully entitled to ignore it.

meer53 · 24 September 2017 at 6:42PM

JuicyJesus wrote: »

Here is how this would likely go down in the bank I used to work for, and in every other bank across the country:

You: Hello I would like this personal loan. You'll need to check my thumbprint somehow, at your risk and cost and completely unlike every other customer you'll ever deal with, because I've put a weird thing on my credit file because I'm very very paranoid but I'm also too cheap to pay for Cifas protective registration like more normal paranoid people.
Them: No, we don't do that and we're not going to. Agree to our terms or you don't get the loan.
You: Oh.

I note that the article doesn't say that the OP has actually managed to successfully apply for credit using this system, or bind anyone to his terms and conditions, or had those terms and conditions actually enforced or indeed confirmed as enforceable, being as it is that a notice of correction is not a legally binding contract in any way, shape or form and the bank is fully entitled to ignore it.

Exactly ! ..

meer53 · 24 September 2017 at 6:58PM

Apparently the OP has opened a current account by sending in a paper application form which included their fingerprint ? Can't quite see how this worked ? How many banks have paper applications these days ? And how many would take note of a thumbprint ?

James · 24 September 2017 at 9:14PM

Thanks for all your concerns.

Here's what happened to me. I applied online. I was contacted by the Bank (they'd checked my Credit File) and sent me a paper application to return by post signed and Thumbprinted. (my T&Cs being adhered to).

I've just called First Direct and they do send out paper applications to those who require them.

All that is required by any lender/bank etc is that they check an application has a print on it. There is no need to verify the print UNLESS fraud is found to have been committed.

These are my T&C's. I really hope the finance industry helps me (us) help them and reduce crime.

It's worked for me (and others) for all those years.

If it's not your cup of tea, fair enough.

Set your own T&Cs on your File.

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