Wonga are now asking for online banking login details "to verify" applications

matttye

gazman100 wrote: »

But how would that work with keypads? I have to generate a 6 digit number everytime I go on line, and I'm sure I'm not alone in that.

Either way I agree it's alarming, simply knowing when you paid and how much is not good, given their fondness for dipping bank accounts.

That may still allow them to get into the initial session, it just means they won't be able to login in the future without you using the keypad again.

patanne

If what they want people to do isn't illegal then it ought to be. Surely if the bank find out then they can close your account as their T & Cs have been seriously broken. Then the PDL co wouldn't be able to get their money back.

pentia

The process mentioned "other steps" in the approval. Which suggests they might ask for the keypad one-time code after you'd entered the other details? Lloyds is a three-step account, password, random character ask from a keyphrase. If you have all three - and all three are asked for here - you can enter the account and have full access to everything.

patanne

I wonder if the banks, once they become aware of this, will start looking for their loans and locking out the accounts, then people will HAVE to take out loans as they have no access to their own money.

Apples2

How would they get a loan with no account to deposit the money into?

Pawnbrokers for cash.

Good_Goose

Playing devils advocate, this measure would stop virtually all fraudulent applications overnight.

pentia

See... I kind of agree with that... if it was a Lloyds bank API and not a sinister third party US-based, potential NSA forwarding company.

Banks do have APIs for this sort of thing, especially debit cards and credit card transactions. They ask for specific info to prove it's the card holder and not a scammer, but never everything a third party needs to potentially seize your entire banking entity. That's the point of contention here, in my opinion.

If people get into the habit of giving this info away, the phishing potential is critical; a scammer could seize everything.

ging84

Good_Goose wrote: »

Playing devils advocate, this measure would stop virtually all fraudulent applications overnight.

this has to be a phishing scam
if not wonga could well be committing an offence of unauthorised computer access

Paul_the_Painter

Can't be legit, a Lloyds only ask for 3 characters from your memorable word, looks like a phishing scam to me, or Wonga have reached the absolute bottom and started to dig.

worried48

I don't believe this. I have a Wonga account and just logged in and asked for a loan, as far as I could go without it actually processing the application, and all they wanted was my card details as previously.