Lloyds ID Aware - ID fraud

bellapinkpink

Hi,

Need some advice. My mother has been subscribing to some some ID fraud insurance but I'm not sure it's worth it... by I may be wrong. If you have a look at the Lloyds tsb site and search ID aware you'll see what she has signed up for.... sorry I would post the link but I'm not allowed being a new user

I've always thought it was a waste of money and it's the banks responsibility, but I'm not sure. I don't want here throwing money down the drains if it's not needed!

Any advice?

longforthesun

Could you confirm what you mean by the banks responsibility?

anamenottaken

bellapinkpink wrote: »

Hi,

My mother has been subscribing to some some ID fraud insurance . .. . If you have a look at the Lloyds tsb site and search ID aware you'll see what she has signed up for....

It's here - http://www.lloydstsb.com/security/idaware.asp

Costs £6.99 to monitor credit reference agencies' records. Nice little earner for the bank.

gemmabe

I would suggest that your mother use the opportunities available to view her credit report regularly for FREE rather than pay LTSB. She can also get cashback for viewing her free credit report :money:

burntcookie

ID Aware is Identity Theft Protection, not just for Lloyds TSB but for your person. If someone was to steal your details and set up a Loan in your name with HSBC fo example, it is you that has to prove you didn't set it up, which can be quite tricky. A team at ID aware will help you prove that it wasn't you.
You also get alerts, via SMS, Email or Letter informing you of any changes to your credit report, this could be a loan being set up. It is better for you find out now that this has happened, rather than 2 years down the line when you apply for a loan of your own and the fraudulent loan has screwed up your credit rating.
You have access to your credit report 24/7, if your credit rating isn't a high as you hoped, there are hints and tips to help you improve it for future credit you apply for.

noh

At £6.99 a month I would say it is far too expensive.

Get a Capital One credit card and get the same service for free.
http://www.capitalone.co.uk/web/identity-theft.jsf

Or do as has already been suggested and get free credit reports periodically.

James

The best form of ID Protection your mum could have is FREE to enroll into.

Have a read of this (click here) from the East of Scotland Fraud Form.

SirClive

James wrote: »

The best form of ID Protection your mum could have is FREE to enroll into.

Have a read of this (click here) from the East of Scotland Fraud Form.

How does this work for online applications for credit. I assume no instant decisions can be made so all applications would be referred?
I know that it makes things safer but am trying to understand any negatives.

Olipro

potentially yes, it would at least guarantee that you must always fill out and return a paper form.

SirClive

Hmm, I suppose that is why it will never be taken up by the banks and credit companies as it forces use of the least cost effective and convenient application process. Unless they can sort out digital fingerprint pads!

Still a great idea for those who don't mind the extra time/effort.

hethmar

The other thing you can do is open a Capital One credit card - you then get the same service free with notifications of any changes to your credit report