Stop the Banks Passing your Details Around!

pigsmightfly

I apologise if I have posted this in the wrong place or if it has already been posted but was unsure where it should go.

Back the petition against banks sharing your information without your consent.

Click the following link:

http://petitions.pm.gov.uk/bankdatasharing/

The petition says:

We the undersigned petition the Prime Minister to Scrap plans to allow the banks to share bank account details with others, without getting permission from individual account holders first.

You then enter your name, email and address. You will then be sent a link to your email address which you click to verify that it was you that signed the form. Then your signature will be counted

roswell

One question,

Do you put any part of the blame on your debts as being the banks fault ?

jonesMUFCforever

It won't happen!!
Unlike the pay for driving petition banks work in the real world. If banks want to share information then they should be able to. It stops people from getting too much credit in most cases, credit that they cannot afford.

gazza975526570

Maybe if they had been able to fully share this data before you wouldnt have been able to get into the debt your currently in from your sig?

I for one think data sharing like this is a positive step forward.

frugalpam

pigsmightfly wrote:

I apologise if I have posted this in the wrong place or if it has already been posted but was unsure where it should go.

Back the petition against banks sharing your information without your consent.

I don't see how they can be allowed to do that. If they comply with the Data Protection Act, then they should not be sharing your personal information with anyone else. Reminds me to dig into Natwest's TOS and see what's there, or quiz them about this topic.

Pam

roswell

ukpam2000 wrote:

I don't see how they can be allowed to do that. If they comply with the Data Protection Act, then they should not be sharing your personal information with anyone else. Reminds me to dig into Natwest's TOS and see what's there, or quiz them about this topic.

Pam

its called a credit file banks use it to access your sutability for creditworthyness (<<new word i just made). its been happening for years and years and years and you get the idea, the differance is in the past it used to be "Computer says YES" or "Computer says no"

Now it will be " COmputer says they have lots of debt with many companys some that get paid ever month some that dont .. computer suggests NO"

Or

"No problems here computer says YES"

frugalpam

roswell wrote:

its called a credit file banks use it to access your sutability for creditworthyness (<<new word i just made). its been happening for years and years and years and you get the idea, the differance is in the past it used to be "Computer says YES" or "Computer says no"

Now it will be " COmputer says they have lots of debt with many companys some that get paid ever month some that dont .. computer suggests NO"

Or

"No problems here computer says YES"

Yes - I've got a copy of my own credit file. However, my personal bank account details are not listed in there - nor would I expect them to be. I don't see why the banks should share our confidential information between each other.


Pam

gazza975526570

At the moment there are 4 CRA - i believe this is so that they all know (AKA any lender also) would know who owes what and hat credit agreements they have.

The only people who wouldnt want this are:

- people wanting to rack up debts more than what they can afford
- people concerned about their personal data. I suspect anyone falling into the latter regularly reads the Daily Mail

roswell

My bank details are on mine so is my mortgage i suspect you have a credit file from a agency not all of them from everyone.

icefall

I signed it when it was posted here

http://forums.moneysavingexpert.com/showthread.html?t=367221

Worth signing if you have not signed yet.

gazza975526570

Can you advise WHY it is worth signing? what benefit is there in it?