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MSE News: Site to protect against rogue traders launches

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This is the discussion thread for the following MSE News Story:

"Under the scheme from Bondpay, consumers pay money which is kept in trust until work is complete ..."
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Comments

  • Tigsteroonie
    Tigsteroonie Posts: 24,954 Forumite
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    I think this is a good idea, and one that I've been muttering under my breath about for many years (basically an "escrow" account).

    However, presumably you have to select a builder that is happy to use the Bondpay system. I wonder how many will?
    :heartpuls Mrs Marleyboy :heartpuls

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  • mo786uk
    mo786uk Posts: 1,379 Forumite
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    I don't see to many people using it for the smaller jobs.

    Consumers want things quick with less hassle and tradesmen are amongst the least likely to want to faff around with this sort of thing.

    It could come in handy for huge jobs but again I imagine the take up would be low in the grand scheme of things.
  • Save4ArainyDay
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    FSA Registered eh? That is no use - Crown Currency Exchange were FSA Registered and promoted on MSE - we lost £17m. We may one day "get a few pence in the £"

    Sorry I have no faith in this
    The best way to escape a problem is to solve it :j
  • windy12
    windy12 Posts: 2 Newbie
    edited 3 December 2013 at 3:58PM
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    I understand this idea began with (text removed by MSE Forum Team), a guy who knows all about Rogue Traders, he is the biggest one.
    Look up Roofseal or ask ex employes who have been s..t on.
    Or even people like me who laid out money for a scheme he then wound up and now can't be contacted.
    Bondpay, Conman.....
  • edgex
    edgex Posts: 4,178 Forumite
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    er, could we have some more details?

    like the real name of the company, as theres a payroll company called Bond International Software that already uses the name 'Bond Pay' already.




    ETA:

    found them

    http://whois.domaintools.com/bondpay.co.uk
    strange how the website address is registered by an individual, & not the company


    & the business was only registered 25/03/2011
    http://wck2.companieshouse.gov.uk/50d151c25682ed291623de19915928f7/compdetails
    so has yet to file any accounts


    the company theyre using for the actual escrow service?:

    https://www.transpact.com/Secure/BondPay-Register.aspx?regemail=your@address.com

    https://www.fsa.gov.uk/register/psdFirmNamesCurr.do?sid=222221

    Anpa Forward Ltd
    http://wck2.companieshouse.gov.uk/9945f4c4720048a3bebdf6bf93ddd36e/compdetails

    they registered as a company in 2007, & have taken the small business exemption to not file accounts
  • taxsaver
    taxsaver Posts: 620 Forumite
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    I think it's a daft scheme. Most tradespeople cannot do anything but very small jobs and wait for payment until completion. It is unrealistic to expect them to fund all materials and labour on jobs that might take a few weeks. Bigger building firms could do so, but then they are generally more expensive and often less likely to be 'cowboys'.
    If you feel my comments are helpful then I'd love it if you 'Thanked' me! :)
  • Patr100
    Patr100 Posts: 2,602 Forumite
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    I take these various schemes with a huge pinch of salt.
    Like the "FairTrades" builders who stole my camcorder, the police did nothing. Or the "FairTrades" plumber who expected me to go out an buy basic parts because he didn't have them then he'd come back and actually do the job and then wanted to be paid cash to evade tax.
  • Paulgonnabedebtfree
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    I'm wondering if such a scheme is protection against rogue customers too. IME there are a number of customers who have a decent job done for them but just won't pay for it.
  • Crabman
    Crabman Posts: 9,943 Forumite
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    Not really seeing the unique selling point here... why not just stick to a credit card.

    In case of dispute Section 75 is available.

    No referral to an 'independent arbitration service' (who pays for the arbitration anyway?) or needing to pay a 2.5% premium (contrary to Bondpay's claim, many respectable firms don't charge customers extra for paying by credit card).
  • mo786uk
    mo786uk Posts: 1,379 Forumite
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    Most tradesman I have used take cash or cheque. A lot of the one man bands are not really set up for credit cards.
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